Commentary Charlie Munger, believed by some to be the real “brains” behind Berkshire-Hathaway, the multinational investment leviathon helmed by Warren Buffet, recently told The Financial Times, “We have a lot of troubled office buildings, a lot of troubled shopping centres, a lot of troubled other properties. There’s a lot of agony out there” in real…
Commercial Real Estate Could Trigger the Next Big Bank Shock
May 4, 2023
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Kentucky Joins Growing Movement to Blacklist ESG Banks
January 4, 2023
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Kentucky has joined a growing list of conservative states that have begun to boycott banks they charge are discriminating against the fossil fuel industry. In compliance with a Kentucky law passed in March, State Treasurer Allison Ball yesterday released a list of banks that “are engaged in energy company boycotts.” This list included Wall Street…
Private Eyes–How Government Makes Your Bank Spy on You
November 4, 2022
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When you open a bank account, do you surrender all rights to your privacy and personal data? Today, the answer is yes. The Bank Secrecy Act of 1970 (BSA) and subsequent amendments mandated that your bank must inform the federal government about any customer’s transactions that they consider suspicious, however broadly defined that may be,…
How Government Makes Your Bank Spy on You
November 4, 2022
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american banksBank Secrecy ActbanksBusiness & MarketsCompaniesconstitutional rightsFeatured Topicspersonal financeUS
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When you open a bank account, do you surrender all rights to your privacy and personal data? Today, the answer is yes. The Bank Secrecy Act of 1970 (BSA) and subsequent amendments mandated that your bank must inform the federal government about any customer’s transactions that they consider suspicious, however broadly defined that may be,…
American Banks Lost Record $370 Billion in Deposits in Second Quarter: FDIC
American banks lost a record $370 billion in deposits in the second quarter, the first decline since 2018, according to the Federal Deposit Insurance Corporation in its quarterly summary. FDIC insured commercial banks and savings institutions had a net income of $64.4 billion in the quarter, down 8.5 percent year over year, primarily due to…
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