Elizabeth Warren on Banking Committee

Ken AshfordCongress, Corporate GreedLeave a Comment

Wall Street doesn't like Elizabeth Warren, a strong advocate of Wall Street reform.  They hoped she wouldn't be elected Senator from Massachusetts, but she was.  And now, it appears that their worst nightmare is about to happen: she's going to be in a position of real power over them. The Huffington Post's Ryan Grim is reporting that sources have told him that … Read More

Walmart So Cares About Children

Ken AshfordCorporate GreedLeave a Comment

On the subject of striking Walmart workers: Numerous activities over the past year or longer “have caused disruptions to Walmart’s business, resulted in misinformation being shared publicly about our company, and created an uncomfortable environment and undue stress on Walmart’s customers, including families with children,” Walmart outside counsel Steven Wheeless said in a letter sent on Friday to Deborah Gaydos, assistant general counsel … Read More

Nice Work If You Can Get It

Ken AshfordCorporate GreedLeave a Comment

Citigroup CEO Vikram Pandit abruptly resigned today, leaving the helm of the bank that he guided through the financial crisis of 2008. Other banks have recovered since 2008.  Not so with Citigroup.  Overall, Citi lost 88 percent of its value under Pandit So he's stepping down.  Johnny, what do we have for the bank CEO who ruined shareholders' holdings in Citi? If no … Read More

Stephen King Goes Cujo On The 1 Percenters

Ken AshfordClass Warfare, Corporate Greed, Economy & Jobs & Deficit, Occupy Wall StreetLeave a Comment

Well, he's a pretty rich guy himself.  Still, he has some thoughts on other rich people and taxes and he minces no words.  An excerpt: I’ve known rich people, and why not, since I’m one of them? The majority would rather douse their dicks with lighter fluid, strike a match, and dance around singing “Disco Inferno” than pay one more cent in … Read More

Major Airlines: Don’t Go There

Ken AshfordCorporate Greed, Economy & Jobs & DeficitLeave a Comment

Spirit Airlines, and as of yesterday, Allegiant Airlines, have found yet another way to charge customers. They are making them pay to store luggage in the overhead bins.  How much? Ten to thirty dollars, depending. Not a good sign.  So far, this new "innovation" is limited to these small, regional, airlines.  But if the big boys deide this is a good … Read More

The Obama Campaign Awakens

Ken AshfordCorporate Greed, Election 20121 Comment

With the recess appointment of Richard Cordray to the Consumer Financial Protection Bureau (after the GOP minority in the Senate essentially filibustered the appointment), it's clear that the Obama campaign is awake and feisty. Mitt Romney responded to the appointment with hyperbole: President Obama’s Consumer Financial Protection Bureau is perhaps the most powerful and unaccountable bureaucracy in the history of our … Read More

Verizon Caves

Ken AshfordCorporate GreedLeave a Comment

I was going to write about Verizon's decision to charge a $2 "convenience fee" to its customers who make payments over the phone or online with their credit cards. I was going to rant what a scam it was.  After all, it's convenient to Verizon when people pay that way.  They get the money quicker (than by check). I was going … Read More

CFPB Nominee Filibustered

Ken AshfordCongress, Corporate Greed, Obama Opposition, RepublicansLeave a Comment

I don't know how the Republicans think they can possibly benefit from things like this: Earlier today, 53 percent of the Senate voted to move forward with Richard Cordray’s nomination to lead the new Consumer Financial Protection Bureau — depriving him of thesupermajority he needs in order to be confirmed. One of the senators joining this filibuster, Sen. Mike Lee … Read More

A Judge Uses Common Sense

Ken AshfordCorporate Greed, CrimeLeave a Comment

The New York Times is reporting that federal judge Jed Rakoff has thrown out a proposed settlement between Citigroup and the SEC. The SEC had agreed to $285 million in exchange for no admission of wrongdoing in a complaint about Citigroup defrauding investors in a 2007 residential mortgage backed security. Citigroup had told the investors a third party was picking what assets … Read More

More Lies At Patterico

Ken AshfordConstitution, Corporate Greed, History, Right Wing Punditry/Idiocy4 Comments

Aaron Worthing again, making things up as he goes along, writes: And the founders clearly always contemplated corporations and similar business organizations having an outsized say in the political process. Whaaaa?!?  This is demonstrably untrue. First, let’s state the obvious. In the Constitution, it says “We the people…”, not “We the corporations…”. The founding fathers never addressed corporations in the … Read More

Baum Law Firm Closes

Ken AshfordClass Warfare, Corporate Greed, Courts/Law1 Comment

Never heard of the law firm of Steven J. Baum? Well, that law firm, located near Buffalo, represents banks and mortgage servicers when they attempt to foreclose on homeowners and evict them from their homes.  It is the biggest law firm of its type in the State of New York. The firm has been denounced by consumers and consumer advocates for participating … Read More

BofA Caves

Ken AshfordCorporate Greed1 Comment

CNN tells about Bank of America's decision: "In response to customer concerns and the changing competitive marketplace, Bank of America no longer intends to implement a debit usage fee," the company said in a statement. "We have listened to our customers very closely over the last few weeks and recognize their concern with our proposed debit usage fee,” said David … Read More