April 2012
51 posts
“Watching a big bank try to be all cool and down with the social kids can be rather like watching your father try to rap. The Twitter feed is embarrassing enough, but the sponsored posts are much worse.”
—Reuters blogger Felix Salmon: “When credit cards go social” (via reuters)
“The Fed remains opaque compared with other parts of the government. For example, a spokeswoman declined to comment for this article on the effect of increased transparency, citing a policy against public comment in the week preceding a meeting of the policy-making committee.”
—Aiming for Clarity, Fed Still Falls Short in Some Eyes
“Before it officially started work July 21, the bureau had focused its attention on mortgages and payment cards, the two major forms of consumer credit. The only clue to its interest in checking accounts was the name of the team it fielded in Washington’s 2011 summer softball league: The Overdrafts.”
—Best Bloomberg quote we’ve seen today.
“
If a government wants money, it can sell bonds or raise taxes. It can also just start pointing to stuff and saying: This is now ours.
That’s what Argentina did this week with YPF, a domestic oil company that’s owned by a Spanish firm called Repsol.
This week, Argentina’s government basically said to Repsol: “That oil company you own in our country? We’re going to take it away from you.”
” —Argentina Points To An Oil Company And Says: This Is Now Ours
“….if I were in charge I would probably reorganize the movement around a single, achievable goal: a financial boycott of the six “ too big to fail ” Wall Street firms: Bank of America, Citigroup, JPMorgan Chase, Goldman Sachs, Morgan Stanley, Wells Fargo. We would encourage people who had deposits in these firms to withdraw them, and put them in smaller, not “too big to fail” banks.”
—Michael Lewis on Occupy Wall Street
