http://www.businessinsider.com/mt-bank-ceo-robert-wilmers-letter-2012-4?nr_email_referer=1&utm_source=Triggermail&utm_medium=email&utm_term=Clusterstock%20Select&utm_campaign=Clusterstock%20Select%20Mondays%202012-04-09 CEO Of Major Bank Writes Epic Anti-Wall Street Manifesto Were you annoyed by the "whining" in Jamie Dimon's annual letter to shareholders? Go download and read the shareholder letter from M&T bank CEO Robert Wilmers. Breakingviews calls it the "must-read missive of the season." Why? Because rather than whine about government regulation, Wilmers takes it to the banks themselves, and blasts the industry for destroying its own reputation. The basic gist is that at one point banks were respected industries that facilitated economic progress. In the quest for growth and trading revenue at any cost, the industry became parasitical, ultimately causing the crisis. Here are some key parts. On the decline of the bankers' reputation: As relatively good … [Read more...]
Banks or Credit Unions: Five bank transfer tips for consumers in lieu of legislation
A legislative bill in Congress may allow credit unions to engage in more small business lending, and any consideration of a financial institution change will be a different experience. A few tips are below for a brief comparison analysis of bank to crest union. As a former financial services executive, a diverse professional experience did include exposure to both commercial banks and credit unions. The diverse exposure to both industries does provide insight to the internal differences of technology and organizational structure when transferring a banking relationship. Consumers are exposed to many opinions about the best choice of institution to house a banking relationship, and opinion is irrelevant(i.e. my opinion) when information is a better tool to insure "a change will do you good. Therefore, the following five tips should be explored in a comparison analysis of your current bank and a potential new bank or credit union. 1) Direct Deposit Access and/or Funds Availability: … [Read more...]
Bad news on job recovery front
http://www.businessinsider.com/hussman-theres-no-jobs-recovery-just-older-workers-desperate-to-grab-any-menial-job-they-can-2012-4 HUSSMAN: There's No Jobs Recovery, Just Older Workers 'Desperate' To Grab Any Menial Job They Can In his latest weekly commentary, fund manager John Hussman takes on a few ideas. First he says that Friday's jobs report wasn't a surprise, and that April will be worse. Then he talks about the liquidity-fueled bubble, and a market addicted to more Fed sugar. Then he takes on the idea that there's been some fundamental improvement in the economy since the market bottom. What looks like job growth, he says, really just reeks of desperation. Last week, we observed "Real income declined month-over-month in the latest report, which is very much at odds with the job creation figures unless that job creation reflects extraordinarily low-paying jobs. Real disposable income growth has now dropped to just 0.3% year-over-year, which is lower than the rate that is … [Read more...]
The Charlotte Post – Study: More kids in poverty
http://www.thecharlottepost.com/index.php?src=news&srctype=detail&category=News&refno=4509 The Charlotte Post - Study: More kids in poverty GOLDSBORO – More than 500,000 North Carolina children are living in poverty, and more than half of them are living in extreme poverty, according to the Children’s Defense Fund, as their parents struggle to overcome job loss and debt. Patricia Colon, the president of the North Carolina Head Start Association, explains that generational poverty can be difficult to overcome. “You hear people say ‘Everybody can make it. All you have to do is pull yourself up by your bootstraps.’ What if you don’t have any bootstraps? What if you don’t have any boots? What if your grandma never had any boots? Nobody in your family has ever had that ability to do it.” Colon also is the director for Children and Family for Wages, Inc. in Goldsboro. Her community action agency is one of dozens in the state helping families with resources and … [Read more...]
IN OTHER WORDS: Norquist goes after Saslaw – Washington Times
http://m.washingtontimes.com/news/2012/apr/8/in-other-words-norquist-goes-after-saslaw/?utm_source=RSS_Feed&utm_medium=RSS IN OTHER WORDS: Norquist goes after Saslaw The indestructible force met the immovable object last week: Grover Norquist, the anti-tax advocate who presides over Americans for Tax Reform, dared to take on Virginia Senate Minority Leader Richard L. Saslaw, Fairfax Democrat. Mr. Norquist was set off by Mr. Saslaw’s comments about his pledge — that all-important taxpayer-protection pledge Mr. Norquist promotes that has been signed by so many Republicans and some Democrats vowing to oppose and vote against any efforts to raise taxes. “I don’t think any thinking person would sign that,” Mr. Saslaw said in an interview with PBS affiliate WVPT-TV in Harrisonburg, Va. “The no-tax pledge in the House has prevented us from doing anything with roads, and pretty soon it’s going to weigh on our ability to attract businesses to the commonwealth.” To which … [Read more...]
Protected: American and European Central Banks walk the line
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Pope holds Easter candle at basilica vigil – Yahoo! News
http://www.google.com/gwt/x?noimg=1&u=http%3a%2f%2fnews.yahoo.com%2fpope-holds-easter-candle-basilica-vigil-200034985.html Pope holds Easter candle at basilica vigil - Yahoo! NewsPage shown from here. Go to page 1 Zoom out VATICAN CITY (AP) — Pope Benedict XVI, carrying a tall, lit candle, ushered in Christianity's most joyous celebration with an Easter vigil service Saturday night, but voiced fears that mankind is groping in darkness, unable to distinguish good from evil. Easter for Christians commemorates Christ's triumph over death with his resurrection following his crucifixion. "Life is stronger than death. Good is stronger than evil. Love is stronger than hate. Truth is stronger than lies," Benedict, wearing white robes in a symbol of new life, told the faithful in a packed St. Peter's Basilica. Still, Benedict worried in his homily: "The darkness that poses a real threat to mankind, after all, is the fact that he can see and investigate tangible material things, but … [Read more...]
