How 17th century American Puritans did taxes, banks, and paying for college. (It involves mutton.)
“The choice before Greece is: insolvency or political unrest. To delay the inevitable financial disaster, Greece has put its financial system on hiatus.”
What’s going to happen next? The banks will be fined, of course. So far, no individual bank employees have been indicted, in part because (to quote the NYT) “the banks long ago dismissed most of the employees suspected of wrongdoing.”
It’s a lot to ask a normal teenage kid to not spend $30,000 that mysteriously appeared in his bank account.
Everyone’s least favorite bank (just me?) has reached a settlement with the Department of Justice, as the Wall Street Journal reports. It is the biggest effing settlement the U.S. has ever made with a single corporation, and is equal to three years of the bank’s profits.
In addition to handing out programs, I scheduled the other ushers and occasionally ran the sound booth. Perks included choice hours and the ability to wear colors. The highlight of this job was meeting Aretha Franklin backstage. She called me Stewart and asked me to bring her a hamburger.
The Atlantic’s cover story for January and February is this really terrific piece that looks at the immense lack of transparency that banks have when it comes to how, why, and where banks are investing money, and how a recent slew of criminal activity banks have engaged in in the past couple of years (remember LIBOR? Or HSBC helping drug dealers launder money?) have caused not only the general public to lose their trust in banks, but elite investors who have the power to move markets as well.