Banks

“Perhaps it’s time for acceptance: Yes, the banks have used our weakness against us, and they have won.” — This story, ostensibly about the insane proliferation of bank branches around New York City, turns out to be about quite a bit more.

Citigroup CEO Vikram Pandit suddenly resigned this morning, which is a very big shock to the people who follow this kind of thing. But how does this affect you, the Citi consumer account holder? You still have to pay your credit card bills, sorry.

Bloomberg News finally emerged victorious from an absolutely absurd legal battle with, essentially, bank lobbyists, and has published the summary of its review of documents from America’ Big Secret Bank Bailout. It reveals just how much money they all borrowed when they were…

“The interchange fees that banks now charge stores for debit transactions are economically and functionally identical to the check interchange fees prohibited by the Fed almost a century ago.”
 — Retail banking is a business almost entirely built on fees — and business is real good I…

Let’s Just Call it a Protest Movement

What did you do this weekend? Were you among the couple of thousand people protesting Bank of…

Banks, from the Outside

The Banks are in the news constantly these days, and not in a way that is pleasing to The Banks. I suppose this has…

Citi: Yes We Can (Not Be A Penny Stock)!

I jumped the gun a little bit on August 27, when I very nearly believed for real that…