Posts Tagged ‘bank



25
Aug
11

buffett gives up on obama! oh, wait…..

NY Post: Following reports that President Obama phoned Warren Buffett from vacation in Martha’s Vineyard to discuss the economy, The “Oracle of Omaha” is hosting a fund-raiser for Obama’s re-election, billed as an “economic forum”.

Tickets for the event at New York’s Four Seasons restaurant on Sept. 30 start at $10,000 a head, with VIP tickets a budget-boosting $35,800.

Meanwhile:

Reuters: Warren Buffett will invest $5 billion in Bank of America, stepping in to shore up the company in the same way he helped prop up Goldman Sachs and General Electric during the financial crisis.

Bank of America shares rose 15 percent to $8.03 in early trading, erasing a large part of the stock’s August losses.

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The President and First Lady’s fundraising schedule for New York next month:

September 20

Dinner with the President – Hosted by Roger Altman, Andi and Tom Bernstein, Michael Granoff, Jane Hartley and Ralph Schlosstein, Charles Myers, Pilar Crespi and Stephen Robert

Gala Dinner with the President and First Lady – with a special performance by Alicia Keys

Lunch with First Lady Michelle Obama and Congresswoman Debbie Wasserman Schultz

September 30

Economic Forum Dinner with Warren Buffett and moderator Austan Goolsbee

19
Aug
11

“i’m from bank of america and we’ll help you out”

Business Insider: After all the speculation that Rick Perry’s threats against Fed Chairman Ben Bernanke would hurt his relationship with Wall Street, at least one banker is pledging his company’s support.

WGIR New Hampshire Radio’s Paul Westcott captures this clip of an unknown individual telling the Texas governor at a “Politics & Eggs” event in New Hampshire: “I’m from Bank of America and we’ll help you out.”

UPDATE: ZeroHedge identifies the Bank of America official as James Mahoney the Director of Public Policy for the bank. Mahoney is a member of the board of directors of The New England Council, one of the events sponsors.

It’s worth noting again that Perry threatened Fed Chairman Ben Bernanke, and said any attempt by the Fed to print more money would be “almost…treasonous.”

UPDATE 2: Mahoney is not registered as a lobbyist, and a BofA spokesman tells POLITICO he works on policy …. Spokesman Lawrence Di Rita: “Bank of America does not endorse Presidential candidates. The reference was about following up on the substance of the speech about job creation and economic growth. Discussing policy issues that affect our company and our customers is something we do with policymakers of both parties routinely at the local, state, and Federal levels.”

ZeroHedge: Should we be surprised, frightened, disgusted or simply say “we knew it” …. At least we know now who is funding what, and whose interests potential future president Perry will be paid to defend.

Thank you Fred

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17
Mar
11

growth

WSJ: Factory operators doing business in the Philadelphia Fed’s district saw already-strong growth heat up further in March to the best pace in nearly three decades, as inflation pressures remained persistent.

The Federal Reserve Bank of Philadelphia reported Thursday that its index of general business activity for manufacturers moved up to 43.4, the best reading since January 1984, from 35.9 the month before. Economists had been expecting a modest slowing in the rate of expansion, and had predicted the index would come in at a still very respectable 30.0…

Regional factory surveys, such as the Philadelphia Fed’s, have been turning in strong performances over recent months that have been largely confirmed in national manufacturing reports. Earlier this week, the New York Fed reported an expansion of growth in its barometer of factory output. The manufacturing sector has consistently been a bright spot over the course of the recovery, leading the rest of the economy out of recession….

More here

Thank you Fred 😉

12
Mar
11

fighting back

The marquee at the Orpheum Theatre (Madison, Wisconsin) mocks Wisconsin Gov. Scott Walker showing him starring in the Arnold Schwarzengger film Total Recall

The Nation: The blowback from Wisconsin governor Scott Walker’s union-busting crusade has only just begun — and it may soon hit the governor where it really hurts: in the deep pockets of his biggest donors. Workers have begun organizing a “Move Your Money Campaign” against M&I Bank, whose employees are among his chief financial backers.

M&I Bank is the largest bank in Wisconsin, and was the recipient of $1.7 billion in TARP bailout money from the federal government. The bundled contributions from M&I executives were Walker’s second-largest source of campaign funds … executives at M&I Bank gave $46,308 to Walker’s campaign. And now, a group of local unions in Wisconsin have threatened to pull their money from M&I Bank unless it denounces Scott Walker’s attack on workers’ rights.

…On Thursday morning, several hundred protesters surrounded an M&I Bank across the street from the Wisconsin State Capitol shouting “You Got Bailed Out, We Got Sold Out.”  International Association of Fire Fighters Local 311 President Joe Conway Jr. told me two union members marched in and pulled a combined $192,000 dollars out of the bank. “Hopefully this sends a message to the bank,” says Conway. “We wanted to illustrate how serious our threat is by having just two of our members pull their money out. “ The union said it plans to escalate actions and will soon begin handing out flyers at protests asking people to move their money.

A senior union researcher estimates that unions have at least $1 billion invested in M&I Bank, mostly through pension funds. Discussions are going on at the highest levels of the labor movement about how exactly to leverage this financial clout in the political debate in Wisconsin. Since the Bank of Montreal is in process of purchasing M&I Bank, US unions have reached out to the Canadian Labour Congress to urge their involvement in a disinvestment campaign.

Full article here

Thank you Marlene 😉

27
Apr
10

message board

Palestinian schoolgirls walk past a billboard in which Palestinians are encouraged to send messages addressed to US President Barack Obama asking for liberation and the end of Israeli occupation, on April 27, 2010 in the West Bank city of Hebron.




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