National Banks of America?

The concept of nationalizing any major industry, especially banks and energy companies, has always had a strong negative connotation in America. The political culture has always associated “nationalization” with “socialism,” and socialism, like “communism,” is an economic concept that… Read the rest

Citibank ignores a contract

The Internet is abuzz with the recent revelation that Citibank, Countrywide and other major mortgage and home equity lenders have arbitrarily frozen or reduced funds available in their home equity lines of credit.

Citibank, for one, claims that they… Read the rest