A Thought: African-American banks and moving your money

Anyone who has been reading this blog for awhile knows that my biggest problem with Obama administration and the Federal  Reserve was the Wall Street bailout which was pretty much limited to helping the major money center banks and firms like AIG.  Many of these institutions were at the center of the financial crisis we encountered.  The unpopular policies pursued by our government resulted in the taxpayer being put on the hook for poor management... Read More

The "ARM" and leg that's not being talked about

Over the past couple of weeks there have been a few headlines about housing prices and home sales increasing along with an overall economic recovery.   The so-called economic recovery is fragile and bifurcated in the sense that Wall Street is having a party while the regular folks worry about having jobs and covering the mortgage.   The headlines are deceptive and as bad as things are, they’re set to become much worst. ... Read More

A Financial Coup d'etat

We live in historic times where one must pay very close attention to what’s going on around us. There’s a  “reality show” that’s playing out right before our eyes, but American people are asleep with their attention very easily diverted.  The thing that’s most disappointing is the lack of real news and new analysis on the substantive issues of our day.  While the banking oligarchs literally usurp our financial... Read More

Banks Canceling Credit Cards Without Notice

Interesting article from the Wall Street Journal. The backlash on this will be more frugality and less credit use.  That’s not a bad thing, but given that the banks have effectively gotten our money with the TARP and the Federal Reserve’s quantitative easing, this is somewhat disturbing.  Cardholders Get Rude Surprise at the Register http://online.wsj.com/article/SB10001424052970203612504574343111012053966.html By MARY PILON In March,... Read More

The Oligarchs Vs. the People

The Oligarchs vs. the People An Oligarchy, by common definition, is a government which a small group of people control for their own corrupt and selfish purposes. That definition can also be extended to the concentration of economic power. Here in America, there’s little distinction between economic and political power. -Me Sometimes to advance one’s interests, it’s necessary to get people to think in ways that are inimical to their... Read More

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