The Daily Banter headline grab (from the Independent): The Bank of England today appeared to rule out an early cut in interest rates to boost the flagging economy despite slashing its growth forecasts for this year to zero. In its quarterly inflation report, the Bank admitted ...read more
The Bank of England's executive director has raised the prospect of official intervention against free banking in an effort to clamp down on mis-selling of financial products. Andrew Bailey also highlighted the debate about the speed at which banks are being required to hold ...read more
When you hear the word 'bank' you automatically think 'capitalism'. After all, banks have capital and fund all sorts of ventures that make the economy work. Synonymous with capitalism is the theory of competition - markets are free and competitive leading to transparency and ...read more
A great report from The Real News on black activists joining the struggle against foreclosures with the Occupy Wall St movement: ...read more
Molly Katchpole, 22 years old, took on Bank of America over its ridiculous debit card fee and won. Just goes to show what happens when people decide to stand up to power. From the Guardian: I called on Bank of America to back off the new debit card fee, knowing that if Bank of ...read more
Andrew Sullivan believes Obama may be able to use the anti Wall St protests that have now gone global to his advantage: The question hanging in the air will be the president's response to the movement. So far, he's been as vague as the movement itself. But if Obama can ...read more
(Bank of England) Britain woke up to the following news today: Sir Mervyn King expressed fears that Britain is in the grip of the world's worst ever financial crisis after the Bank of England announced it was injecting £75bn into the ailing economy. The Bank's governor said the ...read more
It seems to me one of the major problems we've got is credit drying up. So we bail out the banks, yet they still don't extend credit. They seem to think expensive trash cans for CEOs are a bigger priority. Perhaps we need banking - in some way - to become a federal concern. That ...read more
