Why do almost all companies finance themselves mostly with equity, but Wall Street’s too-big-to-fail banks finance themselves almost 100 percent with borrowed money (debt), making them very unstable and at high risk of failure even if they only have tiny losses? Because those handful of gigantic banks (only 9 banks in the …
The Stone that Brings Down Goliath? Richmond and Eminent Domain
In a nearly $13 billion settlement with the US Justice Department in November 2013,JPMorganChase admitted that it, along with every other large US bank, had engaged in mortgage fraud as a routine business practice, sowing the seeds of the mortgage meltdown. JPMorgan and other megabanks have now been caught in over …
The Detroit Bail-In Template: Fleecing Pensioners to Save the Banks
The Detroit Bail-In Template: Fleecing Pensioners to Save the Banks Posted on August 5, 2013 by Ellen Brown The Detroit bankruptcy is looking suspiciously like the bail-in template originated by the G20’s Financial Stability Board in 2011, which exploded on the scene in Cyprus in 2013 and is now becoming the model globally. In Cyprus, …
Book Review: Bailout, By Neil Barofsky
Like millions of Americans worried over their shrinking retirement funds, I relied on www.sigtarp.gov to find the truth about where our tax dollars were going and to whom. Author Neil Barofsky headed SIGTARP as Special Inspector General over TARP which Congress authorized and funded to keep track and oversee the original TARP …
New State Bank Bills Address Credit and Housing Crises
New State Bank Bills Address Credit and Housing Crises Ellen Brown http://WebofDebt.com/articles February 26, 2012 Seventeen states have now introduced bills for state-owned banks, and others are in the works. Hawaii’s innovative state bank bill addresses the foreclosure mess. County-owned banks are being proposed that would tackle the housing crisis …
New Action Video – 99% Choir Forecloses on Bank of America!
Check out Backbone Campaign’s latest creative collaboration with the the Other 98%, and our allies at Washington Community Action Network and the Seattle Labor Chorus: It was a meaningful and fun way to get into the Holiday spirit of justice and dignity for all. Join me in the New Year’s …
The Way to Occupy a Bank is to Own One
The Way to Occupy a Bank is to Own One Ellen Brown http://WebofDebt.com/articles December 15, 2011 The campaign to “move your money” has gotten a groundswell of support. Having greater impact would be to “move our money” — move our local government revenues out of Wall Street banks into our …
QE4: Forgive Student Debt
We fully support this proposal by lawyer Ellen Brown, our esteemed Advisory Board member . We would add that GDP must also be corrected so that at last, “Education” is no longer categorized under “Consumption” , but acknowledged as the basic investment all societies make in their future, and included …
Why Banks Aren’t Lending: The Silent Liquidity Squeeze
Why Banks Aren’t Lending: The Silent Liquidity Squeeze Ellen Brown July 15, 2011 http://WebofDebt.com/articles Why aren’t banks lending to local businesses? The Fed’s decision to pay interest on $1.6 trillion in “excess” reserves is a chief suspect. Where did all the jobs go? Small and medium-sized businesses are the major …
How the Bailout Killed Local Lending — And How Some States Hope to Bring It Back
How the Bailout Killed Local Lending — And How Some States Hope to Bring It Back Ellen Brown June 27, 2011 http://WebofDebt.com/articles “Wall Street banks have cut back on small business lending… [by] more than double the cutback in overall lending.… [Small business] options just keep disappearing.” -Elizabeth Warren, Chair …
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