In the early years of this blog I wrote about Bernard Madoff and his Ponzi scheme a few times, since it was the major financial news at the time. Now that Madoff has been sent to jail for at least 150 years, and many other financiers have been arrested for doing smaller versions of the […]

Back in 2011 I wrote a post asking Why Are You Still Using Big Banks?. In that post I was talking about all these new fees that banks were getting ready to charge for checking and savings accounts, as well as jacking up fees on credit cards. Mark Gstohl via Compfight What I meant to […]

I guess it had to happen eventually. Citigroup finally announced a quarterly profit after many quarters of massive losses. They reported a profit of $4.4 billion in the first quarter of this year, compared to a $670 million loss at the same time last year. Supposedly they’ve turned the corner because of trading of bonds […]

Most of us remember that it seemed like the financial world came crumbling down the day Lehman Brothers announced that they were going into bankruptcy. I have to admit that, even though there were overall signs that something wasn’t right, this was the defining moment when I knew this country was in trouble. Ever since […]

Man, when it’s time to pile on… On Thursday the Attorney General of New York, Andrew Cuomo, who might be running for governor of the state later in the year, charged former CEO Ken Lewis with fraud as it regards Bank of America’s purchase of Merrill Lynch at a time when the banking industry was […]

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