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Venezuela threatens to take banking sector into state hands

14 hours ago ago from Emerging Voice

After the Venezuelan government announced an audit of three private banks “behind closed doors”,  Hugo Chávez announced that he would merge the three institutions to create a new State bank called Bicentenario. This, reported AFP, brings the total number of organizations audited by the executive branch in the past two weeks, as a result of alleged irregularities in their accounts, to seven. After the nationalization of Banco de ...

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Swiss central bank maintains low-interest policy

23 hours ago ago from Your Swiss Private Bankers | Offshore Swiss Bank Accounts

The Swiss National Bank keeps interest rates steady amid signs of a recovery in the Swiss economy, while maintaining an expansionary monetary policy. But the central bank's top officials, outgoing chairman Jean-Pierre Roth and his imminent successor Philipp Hildebrand, maintain a cautious outlook at an end-of-year press conference, warning of uncertainties in the year ahead and of the continued need for changes to the business as usual ...

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Massive Failures

19 hours ago ago from Common Sense with Paul Jacob - Brought to You by Citizens in Charge Foundation

How many times, in the last year, have I heard praise for FDR’s banking reforms, even down to the specifics of federal deposit insurance? The funny thing is, this factoid is false. Roosevelt opposed deposit insurance. Everyone did who at that time knew the history of the states that had experimented with this form of subsidy. Only logrolling pushed deposit insurance into law as a known special favor to small banks in rural areas — not to ...

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IN VOTE TODAY MIKE CASTLE GIVES BIG WET KISS TO WALL STREET, IGNORES DELAWARE MAIN STREET

2 hours ago ago from Democratic Talk Radio Blog

For Immediate Release December 11, 2009 Contact: Eric Schultz 202-485-3129 http://www.dscc.org IN VOTE TODAY MIKE CASTLE GIVES BIG WET KISS TO WALL STREET, IGNORES DELAWARE MAIN STREET Mike Castle Shows True Colors: A Shill for Wall Street, Corporate Interests Castle Voted For $700 Billion For Banks, Has Taken $412,000 From Special Interests, Now Opposes Any Attempts At Regulation Today, Congressman Mike ...

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UK bankers criticize new bonus tax

2 hours ago ago from the Economy Collapse

Alistair Darling, Britain's finance minister, has announced a new tax on bankers' bonuses, imposing a 50 per cent levy on payments of more than $40,000. The new tax will be paid by the banks, not by individuals, in a move to discourage excessive payouts. Some experts say the government's plan for a one-off tax on bank bonuses may make London a significantly less attractive plan for foreign banks to do business. Al Jazeera's Tim Friend reports ...

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