Tag: big banks

Banks like Wells Fargo use poverty-level wages and job insecurity to force employees to do unethical things they couldn’t otherwise get them to do.

This scam supposedly began in 2011 and for the last five years, roughly 1.5 million deposit accounts and 65,000 credit-card accounts were created.

Until the feds charge reckless bankers individually, they'll shake down shareholders to bail them out for misdeeds.

For banksters like Goldman Sachs, federal criminal settlements are just a cost of doing business.

There’s only one way to protect the global economy from the dangers of too-big-to-fail banks: Break them up.

“As Greenwald said, Hillary’s the very model of the type of politician that the five Republicans on the U.S. Supreme Court were trying to empower. The suckers whose votes she gets are fooled merely by her labeling herself a ‘Democrat’ and slinging the type of bumper-sticker phrases that draw Democratic suckers instead of Republican ones.”

“Despite the evidence, many people still see these banks and the people who run them as respectable corporate citizens. In the words of that unnamed Goldman Sachs executive: If they only knew.”

If Bernie Sanders wants to stick it to the Big Banks, having the SSA start its own credit card department would be one way to go.

The bottom line: Regulation won’t end the Street’s abuses. The Street has too much firepower. And because it continues to be a major source of campaign funding, no set of regulations will be tough enough.

When reasonable Republicans and Democrats begin to converge on policy, we are more likely to get sensible change.