Category Archives: Banks

Bank says no? Ditch the bank – borrow from the crowd

What you might not know is that there are technology solutions for banking every bit as powerful as social media such as Facebook that can step into the gap, making it possible, this very minute, for you to borrow or … Continue reading

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Too Much Finance?

Over the last three decades the US financial sector has grown six times faster than nominal GDP. This paper argues that there comes a point when the financial sector has a negative effect on growth – that is, when credit … Continue reading

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How I Stopped Worrying and Learned to Love the OWS Protests

Much more than a movement against big banks, they’re a rejection of what our society has become. I have a confession to make. At first, I misunderstood Occupy Wall Street. My initial impression was that it would not be taken … Continue reading

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What Occupy Wall Street got right

The Occupy Wall Street movement has generated a slew of questions from those outside the occupying ranks: Who are these people? What do they really want? Which city will be next? How will our public officials respond? And as the … Continue reading

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The Banker and the Protesters: A Meeting of Minds on Germany’s ‘Occupy’ Movement

The “Occupy” movement has garnered support from all parts of the world, including Germany, where protestors have set up camp in front of the European Central Bank in Frankfurt. A dialogue with Axel Fialka and Alexander Sack from the Movement, … Continue reading

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Greece, Lehman, and the politics of Too Big To Fail

The looming second banking crisis raises the question whether banks have learned anything from the Lehman debacle only three years ago. They have indeed learned a lesson, but you may not like it. So we face another Lehman moment. The … Continue reading

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Goldman Sachs foray into Higher Education – A Predatory Pursuit of Students and Revenues

Just as the subprime mortgage bubble was giving way to a bust that would help trigger a devastating financial crisis, Goldman Sachs, a firm that had been at the center of Wall Street’s rampant mortgage speculation, found its way to … Continue reading

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A Step-by-Step Guide to Leaving Your Big Predatory Bank

A major goal of the Occupy Wall Street protest that’s been happening in New York City for nearly a month is to teach the banks that ruined America a lesson. Bank Transfer Day may be the solution everyone is looking … Continue reading

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Banking Has Become an Oligopoly Instead of a Competitive Business – And That’s Really Bad News for Us 99%

High banking fees are just the tip of the iceberg. Here’s what went wrong with the banking industry and what we can do about it. Banking is not really a competitive industry. In reality, it’s more like an oligopoly — … Continue reading

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This Time Is Different: Eight Centuries of Financial Folly

Throughout history, rich and poor countries alike have been lending, borrowing, crashing–and recovering–their way through an extraordinary range of financial crises. Each time, the experts have chimed, “this time is different“–claiming that the old rules of valuation no longer apply … Continue reading

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