I have a very low opinion of credit card companies that aren't named "American Express."

A Brookline man is taking on banking behemoth Bank of America, saying that the bank tried to dupe him into paying his late mother’s credit card bill.

From Bloomberg

“The worst cannot be ruled out,” Strauss-Kahn said in Kuala Lumpur, where he was attending a gathering of central bankers from Southeast Asia. “There’s a lot of downside risk.”

From Greg Mankiw

From The Wall Street Journal

Defaults on a popular form of mortgage that gave home buyers a choice of how much to pay each month are rising and could rival those on subprime loans, potentially causing more trouble for investors and banks.

Saw this as a note from Howard Simons on RealMoney.

Peter Schiff has been taking a lot of heat the past few days for his performance, as we noted a few days ago.  The Wall Street Journal has picked up on the story.

President Obama took a shot at the amount of bonuses bankers paid themselves for bringing the global economy to the brink of collapse.  EconomPic graphically illustrates who much Wall Street has paid itself over the years.

Every once in a while, I'll meet up with a dogmatic Marxist on the Internet who has spent his entire education (they are always students) studying Marx for 15 hours a day, every day, who will tell you that capitalists are evil because they exploit workers and all that.  For anyone who is interested, this is an old piece by Brad DeLong on the fallacies of Marx's labour theory of value.

I think references today to The Great Depression are misplaced.  Two recent articles note the differences between today and the 1930s. 

First, from The Telegraph