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via The Economist Not since 1933 had an American president taken the oath of office in an economic climate as grim as it was when Barack Obama put his left hand on the Bible in January 2009. The banking system was near collapse, two big car manufacturers were sliding towards bankruptcy; and employment, the housing … Continue reading
via Paige Lavender, The Huffington Post Mitt Romney said the protesters rallying against Bank of America in Charlotte this week are too young “to really understand how the economy works.” “Unfortunately, a lot of young folks haven’t had the opportunity to really understand how the economy works, and what it takes to put people to … Continue reading
via Ryan Grim and Zach Carter, The Huffington Post A Senate bill banning the trading of corporate stocks by members of Congress based on nonpublic political information will see a vote next week, according to Democratic sources working on the bill. “It’ll be on the floor next week, either hotlined or an actual vote,” one … Continue reading
via Erin Sherbert, The Snitch What some healthy and spry Occupy Movements across the nation couldn’t quite accomplish, San Francisco geriatrics have! KCBS reports that a small group of senior citizens between the ages of 69 and 82 successfully shut down a Bank of America in Bernal Heights on Thursday with nothing more than walkers … Continue reading
via The Huffington Post Big banks are on track to spend a record amount lobbying lawmakers this year. The five banks that spend the most on lobbying have boosted their lobbying outlays by 12 percent in the first three quarters of 2011, compared to the same period last year, according to an analysis by the … Continue reading
via Tom Braithwaite, Financial Times Bank of America became the latest US bank to scrap plans for a debit card fee, acting after worries that customers of the second-largest US bank by deposits would move their accounts. BofA said its u-turn was a “response to customer feedback and the changing competitive marketplace”. Analysts had worried … Continue reading
Bank of America announced Thursday it will charge its debit card users a $5 monthly fee beginning in early 2012, provoking fury from a senior Democrat. The bank, the largest in the nation by assets, blamed its decision on the so-called Durbin Amendment, a provision of the Dodd-Frank financial reform law put into place by … Continue reading
The Brandt Standard 