Category: Banks

Cyber Theft: Think Your Bank is Secure? Think Again!

-By Warner Todd Huston We all, individuals and businesses alike, have this basic assumption that when we put our money in a bank it is safe. But is it? Apparently not so much as the experience of small business TRC indicates when hackers reached into the company’s California-based bank account and drained it of nearly... Read more »

Suing Customers: Why Can't Bank of America Act Like Humans?

-By Warner Todd Huston It is well noted that we live in an overly litigious society. But one small company in Las Vegas isn’t just knuckling under the thumb of a big corporation and the hammer-fist of another big lawsuit. Instead, the small business is taking the revolutionary view that big business should treat its... Read more »

NY Times Gives Obama a Pass on Outrageous Claim That Romney's a 'Felon'

-By Warner Todd Huston Once again The New York Times lends its “paper of record” as a vehicle for Obama’s reelection campaign by leaving out important parts of a story, parts that mitigate in favor of GOP candidate Mitt Romney. Specifically, the Times is repeating the Obama claim that Romney committed some sort of fraud... Read more »

New York Times Slams Romney on Foreign Finances, Ignores Democrats'

-By Warner Todd Huston The New York Times is aghast that Mitt Romney won’t succumb to demands from Democrats and the Old Media that he release enough of his financial records to suit them. In particular, the Times worries over Mitt’s Swiss bank account and foreign investments. But while the paper beats Romney up for... Read more »

Politico Forgets to Mention Democrats Caused Student Loan Interest Rate Hike Problem

-By Warner Todd Huston In its update on the coming student loan interest rate hike deal in Congress, Politico dances its blame-the-GOP tap dance once again saying that the coming rate hike is all just “politics.” But somehow Politico forgets to note that this interest rate problem is of the Democrats’ own making in the... Read more »

Manzullo: Fed's New Capital Requirement will Hurt Small Banks' Ability to Lend, Create Jobs

From Rep. Don Manzullo (R., 16th District)… [WASHINGTON] – Congressman Don Manzullo (R-IL) today said the Fed’s new proposed rules to require all banks to more than double the amount of money they must hold in reserve will harm small banks’ ability to lend money to small employers that create the majority of jobs in... Read more »

J.P. Morgan Chase $2 Billion Loss Raises Fears of Government Actions

-By Warner Todd Huston Last week the news of the $2 billion trading loss suffered by J.P.Morgan Chase hit the country like another nasty slap in the face to a nation already facing an economic downturn that is the worst one in a lifetime. The $2 billion bandied about by the media is not likely... Read more »

Ill. Reps Dold and Manzullo on Reauthorization of the Export-Import Bank

-By Warner Todd Huston Two Illinois Republicans addressed the reauthorization of the Export-Import Bank a few days ago. The legislation passed the House 330-93. Both Congressman Robert Dold (10th District) and Don Manzullo (16th District) released videos of their floor speeches. Congressman Dold issued the following statement after the House Passed the Reauthorization of the... Read more »

Michaud and Dold Urge House Leadership to Reauthorize Export-Import Bank

From the office of Rep. Robert Dold (Ill., 10th District)… Inaction Threatens Competitiveness of U.S. Businesses WASHINGTON, DC – Today, Representatives Mike Michaud (D-ME), Chairman of the House Trade Working Group, and Robert Dold (R-IL), member of the House Financial Services Committee, were joined by 38 of their congressional colleagues in sending a letter to... Read more »

Palatine Library Event: Andrew Palomo Speaks on America's Financial Crisis

-By Warner Todd Huston Andrew Palomo, an fantastic up and coming light from the northwestern suburbs is apparing at the Palatine Library to speak on the financial crisis facing America and what you can do to help mitigate its worst affects both for yourself and your children. The event is sponsored by Awaken America. Palomo... Read more »