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Study estimates lost revenue due to Reg E

A former Fed economist turned academic has estimated the banking industry’s lost revenue due to Reg E at between $3.8 to $5.3 billion annually. Recall that the Electronic Funds Transfer Act required that banks provide a mechanism by which customers could opt in to overdraft services, which pre... (original story)

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belly button rape and other things

(original story)

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Last nail in Sean Dunne’s Irish coffin as non-NAMA banks take control of hotels

The Dunner does a runner. Sean Dunne pictured with wife Gayle are off to America leaving a trail of financial destruction in the rear-view mirror as NAMA and non-NAMA banks take control of his former assets. In a surprising move – “surprising” in light of recent upbeat optimism – a consorti... (original story)

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Bank Of Korea Keeps Rates Steady At 3.25%

The members of the Bank of Korea monetary policy board on Friday kept interest rates unchanged at the current level of 3.25 percent for the seventh straight month, in line with expectations. The central bank had unexpectedly hiked interest rates by 25 basis points at its June meeting. Before that, i... (original story)

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RBS Charges 2190% for Unauthorised Overdraft

The Sunday Times is reporting that RBS, or as I think it should be called, the Royal Bank of  UK taxpayers, is charging this rate for an unauthorised overdraft. So the message is don’t go overdrawn if you bank with this wunch of bankers.  But as a taxpayer, surely it is not a bad thing if a ... (original story)

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A Real Stress Test: Could Any Major Bank or Developed Nation Survive?

By Bill Bonner 01/20/12 Los Angeles, California – Last week, Spain and Italy were able to offload 22 billion euros worth of debt. This quieted investors’ fears. Newspapers reported that calm and confidence had returned to the markets. Lenders and borrowers breathed more easily. Bankers put thei... (original story)

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an example of excellent, ballsy, Irish journalism

via Boingboing.net (original story)

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Iran - Part 1

… because I’m sure there’ll be another part. You should be aware of the drone Iran shot down. Western media is continuously throwing stones at the country, with provocative stories attempting to conjure up a ‘fly in the ointment’ wave of public opinion amongst Western ... (original story)

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Economic Armageddon Ahead...Just Read

Economic Time Bomb!! Tick...Tick...Tick What most people are afraid to talk about or simply have no clue about: http://www.economicnoise.com/2012/01/11/the-black-hole-of-government/ http://www.declineoftheempire.com/2012/01/ignorance-is-bliss.html http://silverdoctors.blogspot.com/2012/01/jim-will... (original story)

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Spanish banker gets Euros 56 million pension

Its misery for people in Spain these days. Well, most Spaniards, not the likes of Francisco Luzón, a senior executive at Santander bank. Luzón, it emerged this week, has left the country’s largest bank with a pension of Euros 56 million. His retirement nest egg is quite a bit larger than th... (original story)

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