When Karyn Howard’s father passed away in 2008, she was convinced that it would be one of the hardest things she’d ever have to deal with. Little did she know that a call from Bank of America a few days later was about to make the ordeal much, much worse.
The systematic process of harassing people for debts they don't owe is something the banking industry is becoming known for. It keeps happening because collection departments are able to intimidate people into paying debts of deceased loved ones -- despite the fact that by law, they don't have to pay.
APRIL 2013 - The dramatic recent events in Cyprus have highlighted the fundamental weakness in the European banking system and the extreme fragility of fractional reserve banking. Cypriot banks invested heavily in Greek sovereign debt, and last summer's Greek debt restructuring resulted in losses equivalent to more than 25 percent of Cyprus' GDP. These banks then took their bad investments to the government, demanding a bailout from an already beleaguered Cypriot treasury. The government of Cyprus then turned to the European Union (EU) for a bailout.
Despite threats of big fines by state banking regulators, the owner of a Shadyside (Pittsburgh, Pa) ice cream shop who opened his own version of a community bank last summer isn't abandoning his mission.
"We are taking on the challenge of transforming the retail banking industry," his website states.
"PA dept of banks threatening us ... we keep growing," he tweeted in late December.
Instead of deposits he is offering "never-ending gift cards." (More hilarious examples of how this ice cream shop/bank owner is getting around regulations in the article).
Good discussion of the difference between inflation, deflation and stagflation, often confused. July 07 2011 Press TV -- In this edition of On the Edge, Max Keiser interviews Steve Keen, economist and author of the book Debunking Economics.
He says that debts have spiraled out of control and the reason is shadow banking system. The program touches on the correlation between the US-EU debt crisis and the worsening Greek economy.
The latest round of documents published by Wikileaks offers a rare glimpse into the world of surveillance products. The collection—which Wikileaks calls the Spy Files—includes confidential brochures and slide presentations that companies use to market intrusive surveillance tools to governments and law enforcement agencies... The group says that these files are only the first set of a larger collection and that more will be published in the future.
As much as we love thinking of ourselves as the rebellious kids fighting against an oppressive society run by unreasonable old men, the truth is that most things that are illegal are illegal for a reason. Society just doesn't enjoy your public urination as much as you do.
But sometimes, the grownups get it wrong. Hilariously wrong, in fact.