Uptick rule...obsolete?

Yesterday I was watching Federal Reserve Chairman, Ben Bernanke testify before Congress. One of the committeemen brought up the uptick rule to him, and whether we should bring it back. He gave one of those cryptic answers where one wondered whether we should or shouldn't have it.

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(As reported from Bloomberg, on the 25th of February, 2009.)

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Weekly Audit: The Worst is Yet to Come

 

by Zach Carter, Media Consortium MediaWire Blogger 

 

Last week's passage of the economic stimulus bill marked the first major win for progressives on economic policy under President Barack Obama, but the hardest economic battles have yet to come. The fight against entrenched corporate interests and a global order that ignores the needy will likely be as long and arduous as the recession itself.  

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Breaking: Gov't discussing nationalization w/Citi tonight


It's being heavily reported late this evening in the online edition of the Wall Street Journal that, "U.S. Eyes Large Stake in Citi."


U.S. Eyes Large Stake in Citi
Taxpayers Could Own Up to 40% of Bank's Common Stock, Diluting Value of Shares
By DAVID ENRICH and MONICA LANGLEY

Citigroup Inc. is in talks with federal officials that could result in the U.S. government substantially expanding its ownership of the struggling bank, according to people familiar with the situation.

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Just say "No"!

"The White House on Friday insisted it's not trying to take over two ailing financial institutions, even as stocks tumbled again. On Wall Street, talk of nationalization of Citigroup Inc., and Bank of America Corp., prompted investors to continue to balk, worried that the government would have to take control and wipe out shareholders in the process.

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Progressive Democrat Newsletter Issue 202

I am continuing to discuss Bank of America. Have to say that now I have been hit by a frivolous fee from BoA on a credit card that I am paying off the balance on. Only bank I know that STILL charges you even when you pay off the full balance. I have stopped using my BoA credit cards and am using my Discover Card and USAA card. As far as I can tell they are better than Bank of America or Citibank, another lousy bank according to Co-op America's Responsible shopper site. I also received an email from a reader who also had a bad customer service experience with Bank of America. This is not surprising because Bank of America is the bank that receives the most complaints from customers, according to the Office of Comptroller of the Currency. To remind you, here is the list of complaints:

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