I called several banks in Washington. I called a local credit union, a tiny bank in the San Juan islands. Everybody said basically the same thing. Even if selling marijuana is legal under state law, it’s still illegal under federal law. And banks and credit unions worry that this could get them in trouble.

So people who want to go into the marijuana business — who want to legally grow, distribute, sell marijuana in the state — are going to have to operate, basically, like drug dealers. They’re going to have to run a cash business.

All businesses are cyclical, which makes it hard to hire effectively. Do you hire lots of people when times are booming, only to find yourself overstaffed when times are less great? Or do you underhire in the booms, depriving yourself of growth? Places like Goldman solve that problem the capitalist way: they simply staff to the cycle. When profits are going up, they hire; when profits are going down, they fire.
newyorker
newyorker:

Shouts & Murmurs: A Few More Bank Security Questions

Dear Ameri-Bank customers,
In light of recent fraudulent activity in the Ameri-Bank system, we are taking additional security precautions. That is why, before logging into your account, we ask that you select from the following security questions:
…
What is your youngest daughter’s wingspan? Who is your eldest son’s favorite dad?
If you could be any animal, what is that animal’s middle name? What is your porno name? (Middle name + Street you grew up on) What is your circus name? (Name of your most German relative + Wacky noise) What is your pet’s porno name? (Regular pet name + “St. Cloud”)

- SNL writer Colin Jost lists a new set of bank security questions: http://nyr.kr/I5qwjq

newyorker:

Shouts & Murmurs: A Few More Bank Security Questions

Dear Ameri-Bank customers,

In light of recent fraudulent activity in the Ameri-Bank system, we are taking additional security precautions. That is why, before logging into your account, we ask that you select from the following security questions:

What is your youngest daughter’s wingspan?

Who is your eldest son’s favorite dad?

If you could be any animal, what is that animal’s middle name?

What is your porno name? (Middle name + Street you grew up on)

What is your circus name? (Name of your most German relative + Wacky noise)

What is your pet’s porno name? (Regular pet name + “St. Cloud”)

- SNL writer Colin Jost lists a new set of bank security questions: http://nyr.kr/I5qwjq

….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