Jun 29, 2010 -- Bank of America (BAC), Wells Fargo (WFC) and JPMorgan Chase (JPM) may lose $1.38 billion in annual revenue from the proposed cap on credit card swipe fees being considered by the U.S. Congress, Moody's Investors Service said in a report, according to Bloomberg.
Shares of all three were down. WFC was last down 1.85%, BAC down 1.31% and JPM down 1.53%.Duration : 0:0:38
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FUNNY! This clip is focused on Rep. Michael Capuano who rips into America's biggest bankers for all the risky investment vehicles they created and lost huge sums of money on. No mention if Mr. Capuano was involved in the de-regulation that led to the creation of those financial instruments. Do you know? Details please!
Executives from the financial institutions who received funds from the $700 billion banking bailout faced their critics on the House Financial Services Committee on Wednesday February 11, 2009 in Washington. The chief executives at the hearing are: Kenneth D. Lewis of Bank of America, Robert P. Kelly of Bank of New York Mellon, Vikram Pandit of Citigroup, Lloyd C. Blankfein of Goldman Sachs, Jamie Dimon of JPMorgan Chase, John J. Mack of Morgan Stanley, Ronald E. Logue of State Street, and John G. Stumpf of Wells Fargo.Duration : 0:5:31
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As a member of the House Financial Services Committee, this is what I said on the floor of the House in 1999 as I voted against the major bank deregulation bill: This legislation, in its current form, will do more harm than good. It will lead to fewer banks and financial service providers; increased charges and fees for individual consumers and small businesses; diminished credit for rural America; and taxpayer exposure to potential loses should a financial conglomerate fail. It will lead to more mega-mergers; a small number of corporations dominating the financial service industry; and further concentration of economic power in our country.
Frankly, it didnt take a PhD in finance to reach that conclusion. If you give unlimited license to Wall Street speculators, no one should be surprised when the result is greed on steroids.
As a result of that reckless behavior by Wall Street, millions of Americans today have lost their jobs, health care and homes. Our country continues to struggle through a disastrous recession. Disgust at Wall Street is profound. Americans demand real changes in how Wall Street functions. Congress must deliver.Duration : 0:4:45
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Are you tired of your Bank constantly finding ways to rob you of your hard earned money? We are too! I'm sure most of you can relate to at least one of the situations laid out in this video. This video was quite a challenge and a pain in the bassoon to edit. so please leave a comment about a similar situation you've had. Or leave a video response telling us of your own banking nightmare!
After being screwed over by Banks and other greedy, money hungry companies we decided to make a skit in tribute to them. NOTE: We do not encourage the killing of bank managers.
Music from: Incompetch.com and Danosongs.com
Sound FX: found using findsounds.com
Camera used: Canon HG20
Program: Vegas pro8
Tags:
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