Author Archives: John Winslow

March on Wall Street — A Permanent Contribution

“Only the movement of money will cause banks to act more responsibly,” Rev. Patrick O’Connor and Mike Gecan of Industrial Area Foundation contend in a well-received New York Daily News op-ed piece (October 16, 2011). That’s why they say to withdraw … Continue reading

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Emasculation of the Credit Raters

To the New York Times: Christine Lagarde, managing director of the International Monetary Fund, urges that major credit rating companies say nothing bad about the credit worthiness of sovereign nations [NYT, July 14, 2011]. She echoes President Obama’s plea that … Continue reading

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Fatal Risk

To FINANCIAL TIMES Letters Sir, FATAL RISK: A Cautionary Tale of AIG’s Corporate Suicide by Roddy Boyd, is a “sober work … researched extremely thoroughly,” FT, April 21, 2011, reports. AIG’s suicide “is one of monumental complexity.”  The mechanics of the … Continue reading

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Colombian Friends Will Cause Havoc

JPMorgan Chase rigged the New York Stock Exchange, acquiring funds to acquire other banks, to balloon itself into Too Titanic to Let Sink, The Acquisitors, Chapter Four. JPMC then bought Madoff funds for itself and its customers. Through those banks it acquired, … Continue reading

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Opportunity Lost

JPMorgan Chase must grow bigger. It’s only our second largest bank now, assets: $2 trillion. But with more growth “We can give so much more, quicker, better, faster. Like Wal-Mart,” Jaime Dimond, JPMorgan Chase’s CEO, told The New York Times, Sunday Magazine, … Continue reading

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Break Back to Size

“We caused a lot of carnage…. Poor business judgments we made have affected Main Street,” Bank of America CEO, Brian Moynihan, told The Washington Post, December 5, 2010. But why would the nation’s largest bank make terrible mistakes spreading across the … Continue reading

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Break up

Today’s Financial Times, p. 2, discusses the nightmare of trying to create an international regime for “winding down” banks too big to take bankruptcy without causing havoc. Why not break them into separate banks so that any one of them … Continue reading

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What’s the big deal?

So the aquisitors got too big by taking over other coporations. How could that have caused the bailouts?

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mortgage calamities

Big banks flooded the nation with home morgages certain to fail. Today we learn they even botched foreclosing on the mortgages. Who knows now if their home purchase is valid? Amalgamated banks huddle together to hide blame for that recklessness. … Continue reading

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