UnivestDirect has an intriguing new way to move money from your checking account directly into someone else’s bank account for free.
The online division of Univest National Bank and Trust Co., which has 32 branches in the Philadelphia area, calls this service a Person-to-Person Funds Transfer Payment.

P2P, as its been dubbed, allows you to electronically send [...]

The unidentified creators of “The TRUTH Behind the Total Collapse of the U.S. Economy” think so.
We don’t think anyone can argue that the Federal Reserve helped to inflate the real estate bubble of the early 2000s because former Fed Chairman Alan Greenspan pushed interest so ridiculously low.
But was that a colossal screw up or a [...]

City National Bancshares CEO Leonard Abess Jr gives $60M of his own money to 399+ of his staff.
After selling a majority stake in Miami-based City National Bancshares last November, all he did was take $60 million of the proceeds — $60 million out of his own pocket — and hand it to his tellers, bookkeepers, [...]

I’ve been doing some digging on the Internet b/c I’ve been wondering where all this bailout money has gone. This is a little tricky because the Federal Reserve is a PRIVATE CORPORATION and therefore is NOT required by law to disclose their accounting.
Fortunately, this astute analysis by James Conrad sheds some light on what the [...]

Just kidding.
Some suspicious developments though…
Official 6 Page Long TARP Application
The ENTIRE 6 PAGE TARP APPLICATION is out. LOL, I’m stunned how short it is—I had to fill out more info just to get a loan on my car!
TARP Loophole
Out on the markets, it looks like the corporate weasels are out in full force and [...]

Conspiracy theorists are worried that the central banks of the world are trying to unite the currencies of Canada, USA, and Mexico to form the Amero.
These people propose that the secret rulers of the world (aka Illuminati), the very same families who own majority stakes of the Federal Reserve and the European Central Bank, [...]

The whole world and their mothers have heard by now that JPMorgan Chase & Co has acquired the WaMu consumer banking empire for the firesale price of $1.9bn.
With this deal, JPMorgan storms into the consumer banking business overnight by acquiring WaMu’s $905bn in deposits and 5,400 national branches.
What You Need to Know
As [...]

You must have seen it in the news by now. Washington Mutual is up for grabs to the highest bidder. Who will it be? Whatever happens, I sure hope that Americans tax payers won’t be footing the bill for this sale… n

Who Will Buy WaMu?

Citigroup

JPMorgan Chase

Wells Fargo

Banco Santander

Bank of America

FDIC / US Treasury / Taxpayers

HSBC

WaMu [...]

Bankaholic reader Doug M. emailed me to tip me off on a white-hot 4.60% APY 18-month CD at Downey Savings.
After doing some research on this bank, there are some reasons that this bank may be in trouble.

Banks that offer unusually high deposit rates are desperate for cash.
Downey Financial (NYSE:DSL) stock is tanking. Smart [...]