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In 1933 the U.S. Congress brought this form of casino banking to an end with the passage of the Glass-Steagall Act. It banned the combination of Wall Street trading houses with deposit-taking banks and created federal deposit insurance for co...
In terms of assets, Bank of America is the second largest federally-insured bank in the U.S. with $2.4 trillion in assets. (That’s just the federally-insured commercial bank unit of Bank of America. The bank holding company h...
The Fed knew that a Government Accountability Office (GAO) audit would want to combine all borrowing under one corporate parent name, in order to see who got the lion’s share of the money. The Fed knew this because that’s exactly what the GA...
For our view on the 401(k) plan, see401(k) Plan Has Been a Disaster for Black Workers (And a Wealth Transfer to Wall Street for Everyone Else). When you hear President Donald Trump brag about how well the stock market is doing this year, what he should b...
By Pam Martens and Russ Martens: September 29, 2020 ~ As the attention of Americans is focused on surviving the pandemic and the pivotal presidential
Billionaires on the decline Overall, the number of US-dollar billionaires in China shrank to 753, down 142 from the previous year. China has also lost 432 or just over a third of its billionaires since a peak of 1,185 in 2021, Hurun said. ...
Billionaires on the decline Overall, the number of US-dollar billionaires in China shrank to 753, down 142 from the previous year. China has also lost 432 or just over a third of its billionaires since a peak of 1,185 in 2021, Hurun said. ...