An Open Letter to Dr. Walter E. MasseyChairman, Bank of AmericaPresident, emeritus, Morehouse CollegeFromWilliam K. BlackAssociate Professor of Economics and LawUniversity of Missouri – Kansas CityFebruary 6, 2010Re: Hans-Olaf Henkel, Bank of America’s Senior Advisor in GermanyDear Dr. Massey,I am writing in my individual capacity. It came to my attention ...
Articles tagged with: “Bank Of America”
Civil fraud charges filed against Bank of America
New York Attorney General Andrew M. Cuomo filed fraud charges Thursday against Bank of America and two of its former top executives, alleging that they lied not only to investors but also to government officials who were orchestrating a massive bailout of the bank in the final months of 2008. ...
Group demands banks give up bonuses to fill state budget gap
Hundreds of sign-toting members of Iowa Citizens for Community Improvement (CCI) stormed the lobbies of two downtown Des Moines banks Tuesday afternoon, temporarily halting business activities to demand the banks give up their employee bonuses to help pare down Iowa’s projected $1 billion budget shortfall.While customers and bank employees looked ...
Why Obama Must Take On Wall Street
It has been more than a year since all hell broke loose on Wall Street and, remarkably, almost nothing has been done to prevent all hell from breaking loose again.In fact, close your eyes and you could be back in the wilds of 2007. Bankers are still making wild bets, ...
As we sit here today, Wall Street continues to exploit a policy of government-sponsored giveaways and secrecy to pay themselves billions. Record-setting bonuses due to banks like Goldman Sachs as early next week. Yet instead of acting as our cop, Secretary Tim Geithner has become central to what may be ...
Foreclosure wave feared as mortgage aid lags behind goal
WASHINGTON - Just over 31,000 homeowners have received permanent loan modifications since March under the Obama administration’s mortgage relief plan, spotlighting some of the program’s failures.Among big lenders, Bank of America Corp. had the worst results. The nation’s largest lender had completed 98 modifications for the 160,000 borrowers who had ...
Before President Bush left office, Representative Marcy Kaptur visited then-Treasury Secretary Henry Paulson Jr. and presented him with a list of all of the people in her district whose properties had been foreclosed. Although each page included four columns of names, the full list still stretched all the way down ...
One year later, gov't can't track TARP
CHARLOTTE, NC (WBTV) - One year ago, America's biggest banks were failing. And the government was more than willing to bail them out.We now know it as TARP.But at the time it was called the "Healthy Banks Program."Wheel barrows full of cash - billions of taxpayer dollars - were spent ...
Report: 237 millionaires in Congress
Talk about bad timing.As Washington reels from the news of 10.2 percent unemployment, the Center for Responsive Politics is out with a new report describing the wealth of members of Congress.Among the highlights: Two-hundred-and-thirty-seven members of Congress are millionaires. That’s 44 percent of the body – compared to about 1 ...
Keep consumers safe by bringing back Glass-Steagall Act
A year ago the U.S. Treasury was pumping billions of borrowed dollars into banks judged to be "too big to fail." This cannot be allowed to happen again.This page has already suggested one solution. It is a radical one: Make the big banks small enough to fail. Break them up.Nearly ...
As the battle over financial reform takes shape, it's become clear there are essentially three camps. The first, represented by the American Bankers Association, which convened in Chicago for its annual conference in October, is the do-nothing camp. Oh sure, ABA's Ed Yingling will say he favors reform and offer ...
On Tuesday morning, in Chicago, the unions came to town. It was the final day of the rolling protest dubbed The Showdown in Chicago, a confrontation with the American Bankers Association, whose members had gathered for their annual meeting. With a crowd estimated at 5,000, it was without a doubt ...
Protests at US bankers' convention
America's bankers may not agree on much. But on one issue, they are entirely united. They refuse to become humble whipping boys, taking the blame from an angry nation for the global financial crisis.More than 1,500 senior executives from banks across the nation congregated in Chicago this week for what ...
Day two of the Showdown in Chicago, a three-day-long protest against big banks, began a bit dismally for The Nation. An email from American Bankers Association spokesman John Hall informed us that our press credentials had been revoked. The reason? Because we'd arrived early to cover a protest outside the ...
Economy Yielding ‘Very Angry’ People, Bankers Told
Oct. 26 -- A top American Bankers Association official defended the group’s members against demonstrators massing in Chicago to protest the industry’s opposition to proposed regulations in response to the financial crisis.“A lot of people lost their jobs, and they are very frustrated and they’re very angry,” Bob Schmermund, executive ...
At rescued banks, perks keep rolling
NEW YORK -- Even as the nation's biggest financial firms were struggling and the federal government was spending hundreds of billions of dollars to save many of them, the companies as a group were boosting the perks and benefits they pay their chief executives. The firms, accounting for more $350 ...
Two Things You Can Do This Month to Break Your Abusive Relationship with Capitalism
Capitalism is fundamentally undemocratic and un-American. Yep, Michael Moore said it -- out loud and in a movie!When you go see Capitalism: A Love Story you will be told that the reason you have those feelings of being abused, misled and ignored by corporate America (and most of our elected ...
Wall Street On Track To Award Record Pay
Major U.S. banks and securities firms are on pace to pay their employees about $140 billion this year -- a record high that shows compensation is rebounding despite regulatory scrutiny of Wall Street's pay culture.Workers at 23 top investment banks, hedge funds, asset managers and stock and commodities exchanges can ...
Congresswoman Marcy Kaptur steals the show in Michael Moore’s new movie Capitalism: A Love Story as the sharp-tongued critic of last year’s financial bailout. Sitting in her Washington office, the cheerful 63-year-old representative from Ohio has the manner of a benevolent fairy godmother, but her message is harsh and to ...
For Those of You on Your Way to Church This Morning ...a note from Michael Moore
Friends, I'd like to have a word with those of you who call yourselves Christians (Muslims, Jews, Buddhists, Bill Maherists, etc. can read along, too, as much of what I have to say, I'm sure, can be applied to your own spiritual/ethical values). In my new film I speak for ...
Friends, Thank you, all of you, who packed the theaters across North America last night to see my new film. The movie houses were rockin'! The national movie exit poll company announced this morning that the audiences in America gave "Capitalism: A Love Story" a rare "A" rating! Wow, thank ...
'Capitalism' Opens Today at a Theater Near You! ...an invitation from Michael Moore
Friends, For two months, we've sat and watched the rabid right achieve the unimaginable: Derail universal health care and send the Democrats in Congress running for cover. Many have asked, "How did this happen? How could a small minority of angry people control the public agenda? Where is the majority's ...
Q&A: Why Michael Moore Hates Capitalism
By Bill Saporito / TIME Since his debut in 1979's Roger and Me, documentary filmmaker/agitator Michael Moore has aimed his blunderbuss of a lens against large American corporations and the institutions that he believes have flat-out screwed the working class. In his latest film, Capitalism, Moore ridicules the business philosophy ...
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Mike's Blog
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March 23rd, 2013
This evening is going be a big moment in turning our country around on the issue of gun violence. That's why I desperately want you ...
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March 21st, 2013
I am hosting a nationwide series of house parties this Saturday night where tens of thousands of people will gather together in living rooms to ...
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March 15th, 2013
The response to my Newtown letter this week has been overwhelming. It is so very clear to everyone that the majority of Americans have had ...
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March 13th, 2013
America, You Must Not Look Away (How to Finish Off the NRA)
The year was 1955. Emmett Till was a young African American boy from Chicago visiting relatives in Mississippi. One day Emmett was seen "flirting" with ...
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February 26th, 2013
My Final Word on Buzzfeed and Emad Burnat's Detention at LAX
Thanks to everyone for bearing with me as I spend so much time on what happened to Emad Burnat. It's important to me because he's ...
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February 26th, 2013
Michael Moore Responds to Buzzfeed Story on '5 Broken Cameras' Co-Director Emad Burnat
On Tuesday, February 19th, Emad Burnat, the Palestianian co-director of the Oscar-nominated documentary '5 Broken Cameras,' was detained with his wife and son at Los ...
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February 20th, 2013
Last night was the Motion Picture Academy-sponsored dinner in Beverly Hills honoring the directors and producers of this year's five nominated films for Best Documentary. ...
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September 11th, 2010
If the 'Mosque' Isn't Built, This Is No Longer America
OpenMike 9/11/10 Michael Moore's daily blog I am opposed to the building of the "mosque" two blocks from Ground Zero. I want it built on ...
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December 14th, 2010
Why I'm Posting Bail Money for Julian Assange
Yesterday, in the Westminster Magistrates Court in London, the lawyers for WikiLeaks co-founder Julian Assange presented to the judge a document from me stating that ...
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May 12th, 2011
Some Final Thoughts on the Death of Osama bin Laden
"The Nazis killed tens of MILLIONS. They got a trial. Why? Because we're not like them. We're Americans. We roll different." – Michael Moore in ...
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November 22nd, 2011
Where Does Occupy Wall Street Go From Here?
This past weekend I participated in a four-hour meeting of Occupy Wall Street activists whose job it is to come up with the vision and ...
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September 22nd, 2011
A STATEMENT FROM MICHAEL MOORE ON THE EXECUTION OF TROY DAVIS
I encourage everyone I know to never travel to Georgia, never buy anything made in Georgia, to never do business in Georgia. I will ask ...
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December 16th, 2010
Dear Swedish Government: Hi there -- or as you all say, Hallå! You know, all of us here in the U.S. love your country. Your ...
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November 2nd, 2010
This letter contains (almost) no criticisms of how the Democrats have brought this day of reckoning upon themselves. That -- and where to go from ...
