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Fed’s Kashkari to Jamie Dimon: It’s ‘nothing personal’ — big banks need to double their safety nets
Minneapolis Federal Reserve President Neel Kashkari told CNBC on Friday banks need “about twice as much” rainy-day capital to effectively address “too big to fail,” which put U.S. taxpayers on the hook to bail out Wall Street firms during the...Cash Withdrawal
Come the fall, the city government could sever ties with a bank that’s helping to fund the Dakota Access Pipeline. Santa Fe in 2013 approved a four-year contract with Wells Fargo, agreeing to pay the bank about $449,000 over the period for fiscal agent services. But...Eight Years After an Epic Banking Crash, America’s Biggest Threat Is Still Its Banks
Source: Federal Deposit Insurance Corporation In 1934 the U.S. had 14,146 commercial banks holding insured deposits. By 1985, that number had barely budged, standing at 14,417. Then came the Bill Clinton administration in the 1990s and its reckless and unprecedented...Kashkari’s Plan to End TBTF Comes at High Price
NEW YORK — Minneapolis Federal Reserve Bank President Neel Kashkari outlined a dramatic proposal that he says will all but eliminate the risk of another financial crisis, albeit at a cost that is nearly quadruple that of the current post-crisis regulatory framework....Wells Fargo executives forfeit millions and CEO to forgo salary amid inquiry
Announcement comes three weeks after Wells Fargo agreed to pay $185m in penalties after an audit found the bank used aggressive, illegal sales tactics Wells Fargo executives will forfeit millions of dollars in the wake of revelations that the bank’s sales...
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Episode: Everyone deserves a public bank
Join those who’ve endorsed a Public Bank for New Mexico
“I had the good fortune to work on this initiative before Bernie kidnapped all my time. This is one of those no-brainer initiatives that only the 1% could oppose. It has the potential to save the state millions of dollars by vastly reducing the cost of its bonds to improve infrastructure funding. in a public bank, our state funds can be used to build our local economy and our local infrastructure.”
– Paul Gibson
Retake Our Democracy