Here's a look at what's news in banking and finance this morning:
- Days after picketing and breaking windows at a Wells Fargo bank, Occupy Oakland protestors deposited $20,000 in ... Wells Fargo. The San Jose Mercury News has the details.
- Bank of America has dropped plans for a program that would allow debit card customers to decide to proceed with a transaction that would put their account in the red and pay a $35 fee, the Boston Globe reports. Without specifically opting in, the transaction would be denied.
- Goldman Sachs and Morgan Stanley are considering accounting changes that could dramatically impact their financial statements, the Wall Street Journal reports.
- Foreclosure activity was the highest in seven months, the AP reports.
- Sweden's treatment of banks should be a model for the world, Bloomberg says.
Take a look at that last story from Bloomberg and tell us what you think. Are stricter standards and tighter regulation the answer for banks?
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1 comments:
Uhhhhh...Duh?????
Yes.
It is written that money is the root of all evil. Thats not really true. The love of money is the true cause. Greed and selfishness permeate our society and the banking system is no different. Decisions are made to temporarily increase the wealth of the corporation (or the individual if you are Mitt Romney) instead of whats best for the long-term success of society as a whole. Regulation helps to strike a balance to help save man from his own greed and selfishness, which we are all subject to, Republican, Democrat, Independent, Christian, Muslim, Jew....all.
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