Citigroup credited a client’s account with $81tn when it meant to send only $280, an error that could hinder the bank’s attempt to persuade regulators that it has fixed long-standing operational issues. Yes, that is 81 trillion U.S. Dollars, which about says it all. The good news for Citi is that–this time–they managed to get […]

The Fed just let Morgan Stanley and Goldman Sachs off the hook after both failed the required stress tests under Dodd-Frank. The stress test is supposed to predict whether banks and so-called banks like Morgan Stanley and Goldman Sachs can weather a financial crisis. This is not an instance of if you remember in 2008, […]

Via Digby comes a couple short films talking about what is money.   They are part of an effort by a group/site called We The Economy that has 20 short films aimed:  to drive awareness and establish a better understanding of the U.S. economy. Told through animation, comedy, musical, non-fiction, and scripted films, WE THE ECONOMY […]

An comment worth noting on an  interesting post Where Are You in the Economic Strata? by Barry Ritholtz is the following (hat tip Mike K.): In my opinion, aspirational voting is the consequence of a rationaldedication to ethics based upon false assumptions of what is ethical.As I see it, there are two forms of income. The first […]