Glitch stokes panic on Twitter
Paul Joseph Watson
March 19, 2013
Millions of Chase Bank customers were affected by an unfortunately timed glitch which resulted in their checking and savings accounts showing a zero balance for several hours yesterday, prompting many to take to Twitter and express panic that their money had been stolen.
Reaction to the glitch was undoubtedly made more intense by the fact that the top global news story yesterday [...]
March 19, 2013
This use of the term “haircut” to describe government theft of private banking accounts has got to stop. It’s not a haircut, it’s outright thievery. When a person breaks into your home with a gun and steals your jewelry or cash, do we call that a “haircut?” Of course not. It’s a criminal act, not a trip to the salon.
I’m referring to the government bank raids in [...]
I RECENTLY asked a group of colleagues — and myself — to identify the single most important development to emerge from America’s financial crisis. Most of us had a common answer: The age of the bank run has returned.
Since the end of World War II, economists have generally thought that runs on banks were dead, at least as a phenomenon in advanced nations. In the United States, for example, bank [...]
by frustrated1, Dailykos
It isn’t very often that a bank as bad as Bank of America really makes you happy, but they really made my day today. I got home and found something in the mail from them. I assumed it was another credit offer, or maybe even a “sorry for threatening to charge you $5 per month to use your debit card” letter. Instead, I found a “we sold your mortgage” letter. [...]
1. State and local government jobs. The level of unemployment in this sector continues to rise. Budget imbalances in a number of states have already caused mass layoffs as tax receipts have dropped sharply.
2. Construction. Nationwide construction unemployment was 17% in August, up from 16.5% in the same month last year. Over the course of the summer, government statistics have shown sharp drops in the construction of new homes and [...]