Banking

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A decade after the financial crisis, economic scars remain, inequality thrives, and crooks roam free

As we keep hearing on this 10th anniversary of the financial crisis that destroyed so many dreams and livelihoods, the economy is now “robust,” “booming,” “soaring.”We have, indeed, come a long way from the acute pain of that crisis. But the implication that everything is hunky-dory contained in those descriptions is far off the mark. The damage done by […]

September 14th

James Howard Kunstler: Partying on the Titanic (til Bitcoin crashes the grid)

  Shoeshine boys in airports ‘round the world must be whispering about Bitcoin as the crypto-currency coils upward to tickle the $10,000 line. Ethereum’s roaring up, too, along with most other cryptos, from Byteball Bytes to Tattoocoin (Limited Edition). Whatever else you think about it, this action is sending a message, perhaps several. By James Howard Kunstler One […]

November 28th

JP Morgan commits to $200 Billion to finance clean energy

Multinational banking giant JPMorgan Chase has announced it is committing to sourcing 100% of its energy needs from renewable energy by 2020 and a promise to facilitate $200 billion in clean financing through 2025. By Joshua S Hill  For those of us who have been covering global warming science and clean technology for a while now […]

July 31st

Goldman Sachs gives low-ball estimate of Delta Tunnels costs

Westlands Water District, dubbed the “Darth Vader” of California water politics by Tribes, fishermen,  conservationists and environmentalists, has been in the news a lot lately. On Monday, Goldman Sachs gave the water district a presentation on financing for Jerry Brown’s water-stealing Delta Tunnels/WaterFix project, and, unsurprisingly, told them what they wanted to hear. By Dan Bacher  Westlands […]

July 21st

James Howard Kunstler: Don with the Wind

For all his blunders and stumbles in his first half-year as President (cough cough), Donald Trump seems to have more lives than Schrödinger’s Cat. Or maybe it just seems that way. Or maybe he isn’t really there at all (like the news these days). Maybe Trump only represents one comic probability in an infinite number […]

Divest! Banks and institutions dumping dirty fossil fuel money

Institutions are reacting to public outrage over fossil fuel investments. Through divestment from fossil fuels, profits that wreak havoc on our planet are being diverted to alternative energy and other investments that can provide a sustainable tomorrow for the world’s citizens. by Carolyn Fortuna  Divestment decisions last month at Harvard University heartened student activists and reinforced a […]

May 26th

Divest! US Bank agrees to dump pipeline financing!

One of America’s leading banks, U.S. Bank, announced in April that it would formally exclude all gas and oil pipelines from its project financing. In a revision to the company’s Environmental Responsibility Policy, U.S. Bank stated that it no longer “provide project financing for the construction of oil or natural gas pipelines.” Further, U.S. Bank explained that […]

May 16th

Don’t expect Panama Papers prosecutions any time soon

By Meteor Blades An unnamed senior federal law enforcement official told NBC News Sunday that prosecutors and agents are “champing at the bit” to go after criminals by using the leaked Panama Papers that reveal tax evasion and money-laundering by highly prominent people in several nations. But it won’t be easy. There are legal barriers to simply sifting through those 11.5 […]

April 11th

Panama Papers fallout – from US to Iceland (bankster PM quits!)

By Meteor Blades The prime minister of Iceland resigned Tuesday as the weekend exposé of off-shore tax haven shenanigans from the Panama Papers claimed its first major casualty. The year-long investigation carried out by 370 journalists of the International Consortium of Investigative Journalists (a project of the Center for Public Integrity) was sparked by a massive document leak from the files of the Mossack Fonseca law firm. Their work […]

April 6th