Here’s all the great stuff you missed on the Finance Addict this week. And also check out our GIF of the Week after the jump!
- Banks to face the RICO Act for robosigning credit cards? While the RICO Act’s usually exercised against organized crime rings, it may be used against banks who’ve supported credit card robosigning.
- Germany plays hopscotch over the rubicon. Angela Merkel of Germany is blithely hopscotching over a point of no return.
- Shareholder rights again under attack. What will the landscape look like if Carlyle Group wins its battle to erode shareholder rights?
- Are we going to own AIG forever? Here’s the thing: AIG is not so sure that we’ll ever get our $51 billion back.
- We don’t need no education. Another view of how the banks, the politicians and the press work together to keep in place a status quo favorable to banking interests.
- Sometimes the “long-term” never comes. It’s easy to forget the extraordinary, unprecedented amount of assistance being lent to the economy by the central banks.
- They *do* exist. A regulator who’s resistant to corporate lobbying? Hallelujah!
- Who really pays for the things we love? Many will watch the Superbowl and use our iPhones to share the experience. But if we’re honest we’ll take our wings with a side of guilt.
I’ve already mentioned Bill Moyers’ recent interview with John Reed. If you haven’t watched it yet I highly recommend it. (Although at times I do wish that Moyers would be a bit more hard-hitting.)
Reed was the CEO of Citibank until it was purchased by Sandy Weill’s Travelers Group, which created the Too Biggest to Fail of them all — Citigroup. But this merger was actually not allowed at all by the Glass-Steagall act in force at the time. Continue Reading