Tag Archives: bank cartels

Stacy Summary:  Banks resembling mafia organizations in the headlines today as the banks are forced to take an oath of omerta to Geithner and the Australian bank cartels shakedown the people.

• Banks told to stay silent on stress test results

• Australian ‘bank cartels’ slammed for pocketing rate cuts

• BT slashes contractors’ pay by 30%

• Credit default spreads show speculative run on banks underway, with help of cheap Fed/Treasury funds

• IEA reports oil demand will be down 2.4 m barrels a day this year

• UK shop prices soar as pound tumbles

• Fed to begin pumping foreign currency into U.S. banks (h/t Shawn)

• The Economist:  “Who’s at risk as deepening economic distress foments social unrest” [PDF]

• Estonia’s new virtual Bank of Happiness where good deeds are traded