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  1. ars technica (1)
  2. banks (7)
  3. capitalism (1)
  4. Chris Dilley (1)
  5. crime (1)
  6. davos (1)
  7. economiccrisis (1)
  8. economics (2)
  9. Jesse Eisinger (1)
  10. Lawrence Goodwyn (1)
  11. narco war (1)
  12. spam (1)
  13. wtf (1)

  1. “So when taxpayers hear a bank chief, like Jamie Dimon, complaining, it’s worth keeping in mind that his 10-figure paycheck is largely coming courtesy of us.”

    dealbook.nytimes.com
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  2. “But where those efforts have had only short-term success, work against the banking bottleneck may well prove more fruitful. If dealing with the handful of banks were made impossible—for example, if Western banks refused to settle certain kinds of credit card transactions with banks known to be spam-friendly, an approach already used in the US to block access to online gambling sites—it would severely diminish the ability for the spam vendors to get paid, sucking the cash out of the spam business. And given the time and complexity of setting up new merchant agreements, this might be one area where the good guys can move faster than the spammers.”

    arstechnica.com
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  3. “What sort of banking system works best: free banking, mutuals, nationalized banks, what? Given the power of bankers to ensure the continuation of the system of socialized losses and privatized gains, we’ll not find out.”

    stumblingandmumbling.typepad.com
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  4. “At the height of the 2008 banking crisis, Antonio Maria Costa, then head of the United Nations office on drugs and crime, said he had evidence to suggest the proceeds from drugs and crime were "the only liquid investment capital" available to banks on the brink of collapse. "Inter-bank loans were funded by money that originated from the drugs trade," he said. "There were signs that some banks were rescued that way.”

    www.guardian.co.uk
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  5. “The bankers, who asked not to be quoted by name, agreed that the financial system was now more stable — one reason they may have become more outspoken.”

    dealbook.nytimes.com
    missrogue

  6. “It is not technocratic economists who will win the day and pull us out of our cul-de-sac, but angry Irishmen and Spaniards who challenge, on moral terms, the right of German bankers to impose vast deadweight costs on current activity because they lent greedily into what might easily have been recognized as a property and credit bubble.”

    www.interfluidity.com
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  7. “The evidence is compelling that a great many people within the financial community acknowledge no limits because they have a seriously atrophied loyalty to American society as a whole”

    www.alternet.org
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