The panic that grips you in those moments when you need to open a new checking account, but really needed a double shot of espresso are over. Yes, my moneyed mates, greetings and welcomes to the Financial District's somewhat recently opened Capital One 360 Cafe.
Within the gleaming walls, one can perform banking transactions and caffiene transactions with well trained bank staff-baristas. You can plan ahead and reserve a workspace at which you will enjoy free WiFi thanks to corporate America's largess. And for a limited time on those gleaming walls, you can enjoy artist Nick Mancilla's commentary on the transience of wealth while you bask in the endless future of your own, unfurling before you like a expensive, woven, cheerful, infinite Stars and Stripes. Read more »
Federal regulators cut a deal with 10 major banks to “speed up housing relief,” major news outlets reported earlier this week – but to exactly no one’s surprise, the amount promised to struggling homeowners is a pittance compared with the overwhelming losses sustained during the foreclosure crisis. Read more »
Wall Street's massive taxpayer funded bailout, initiated by the Bush administration and carried forward under President Obama, never really ended — it just shifted from federal to local sources of funding. Even while local and state governments have been forced to cut back on crucial services, wealthy banks and investment firms are being padded with enormous cash flows sucked directly from the already strained budgets of cities, counties, and public agencies.Read more »
Do you think a groundbreaking report – showing that 84 percent of foreclosures in San Francisco over the last three years involved faulty paperwork, some of it amounting to fraud – would finally mean swift justice for victims of those crimes?
The City of Berkeley is considering dropping its contract with Wells Fargo and moving the city's money to a credit union or a smaller community bank. That makes perfect sense -- the Move Your Money Project has been urging individuals to do that, and there's no reason why cities (which are huge customers of banking services) can't do the same.
In fact, San Francisco ought to be next on the list.Read more »