Demowp

Tag: Banking

  • Three Presidents Who Made Thanksgiving a National Holiday And What They Were Thankful For

    Three U.S. presidents were instrumental in establishing Thanksgiving as a regular national event. On October 3, 1789, George Washington declared the first federal Thanksgiving holiday. In 1863, Abraham Lincoln made it an annual federal holiday. And in 1941, Franklin Roosevelt signed a bill setting the date at the fourth Thursday of every November. All three presidents […]

  • More Banks to Fail? Not in North Dakota

    U.S. banks are again in the crosshairs. Standard and Poor’s has downgraded five new middle-tier banks and put three others on negative outlook. This follows sweeping downgrades earlier in August by Moody’s, which cut credit ratings on 10 banks and placed four of the 15 largest U.S. banks on review for possible downgrade. As with the banks going into […]

  • War By Other Means: Short Selling JPMorgan

    When the FDIC put Silicon Valley Bank (SVB) and Signature Bank into receivership in March, a study reported on the Social Science Research Network found that nearly 200 mid-sized U.S. banks were similarly vulnerable to bank runs. First Republic Bank went into receivership in May, but the feared contagion of runs did not otherwise occur. […]

  • Peace Dollars: Putting Our Economic House In Order

    Peace Dollars: Putting Our Economic House In Order

    The total federal deficit at $31+ trillion? Maybe it’s time for some creative thinking — a totally unique strategy that benefits all Americans, not just capitalist predators. Special use currency is not unprecedented. Abraham Lincoln used “greenbacks” — the paper currency shown above, backed by nothing more than confidence in the government — to finance the Civil War. He […]

  • Squeezed by the Shorts: Time to Ban Short Selling?

    Short sellers have made a killing in the recent banking crisis, scalping $14.3 billion from bank stock owners just in March of this year. Short sellers “borrow” stock they don’t own and immediately sell it, driving the price down. Then they buy it back at the lower price, return the stock, and pocket the difference. […]

  • A Certain Form of Thieving

    A Certain Form of Thieving

    It looks like 2008 all over again. Economic and financial mismanagement feature in scorching, consuming brilliance. The culpable, bungling banksters, have returned with their customary, venal incompetence. In the customary script, they habitually seek the role of the public purse to socialise their losses. Along the way, they will avoid richly deserved prison sentences, lie […]

  • Playing with Financial Fire

    Capitalism, Marx said, is unceasingly prone to crisis. His observation applies as much to financial capital as to industrial capital, as the recent collapse of Silicon Valley Bank and Signature Bank of New York attest. In their pursuit of profits, banks make loans that borrowers cannot repay or back the loans with assets that lose […]

  • Reckless Capitalist Banks Rescued by Government Socialism – Again!

    Once again, government socialism – ultimately backed by taxpayers – is saving reckless midsized banks and their depositors. Silicon Valley Bank (S.V.B) and Signature Bank in New York greedily mismanaged their risk levels and had to be closed down. The Federal Deposit Insurance Corporation (FDIC), in return, to avoid a bank panic and a run […]

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