Stumbling Toward Enlightenment

Gatherings from the Internet

03/05/2013
by barenose
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6 Insidious Ways You’re Getting Ripped Off, and How to Fight Back

In the wake of the financial crisis, there was a momentof hope that predatory businesses would no longer be able to pick at our bones like vultures. Instead, we’ve seen Dodd-Frank weakened and stalled, and the newly created Consumer Financial Protection Bureau stymied at every turn. In the latest round, Republicans are thwarting the confirmation of Richard Cordray to lead the Bureau. Meanwhile, we continue to get fleeced. Here are a few egregious scams to watch out for, along with ways to protect yourself. Continue reading

31/07/2009
by barenose
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Bankers Reaped Lavish Bonuses During Bailouts

At some banks last year, revenue fell to levels not seen in more than five years, but pay did not. At Citigroup, revenue was the lowest since 2002. But the amount the bank spent on compensation was higher than in any other year between 2003 and 2006. At Bank of America, revenue last year was at the same level as in 2006, and the bank kept the amount it paid to employees in line with 2006. Profit at the bank last year, however, was one-fifth of the level in 2006. Continue reading

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