Banks and Credit Unions are getting all green over the last two years, and it risks becoming a fad. I was surprised to see VanCity, whom I respect using what appears to be shadow accounting to accomodate a claim of carbon neutrality. I have to call VanCity out on this one. Using a ‘Social Audit’ they have calculated their degree of carbon usage. No problem there. In order to become carbon neutral, they have purchased ‘offsets from five alternative energy projects’. Huh? Vancity – Carbon Offsets Vancity carbon neutral offsets After all of this prep work, the time came for … Continue reading Carbon neutrality for Banks and Credit Unions is a hard question

It made no sense, and now the reality is coming through. Its impossible for a set of mortgages to be worth zero. This article also hints that the original ‘almost zero’ valuation was an out for the US Government to not appear to bailing Bear Stearns out. FT.com / Home UK / UK – How JPMorgan was forced into climbdown But with large investors such as Joseph Lewis, the UK-born billionaire who stood to lose hundreds of millions of dollars on his 9 per cent stake in Bear, vowing to do anything possible to engineer a higher bid, the momentum … Continue reading It made no sense, and JPMorgan ups the offer

With the stroke of a pen, the UK Labour Government takes us back to 3rd world thinking. Alternative offers from Virgin Money, and a management group were turned down in facour of a government takeover. A sad day for business. Northern Rock is Nationalised Alistair Darling will today introduce emergency legislation to nationalise Northern Rock after abandoning a five-month search for a private buyer for the stricken bank. Continue reading UK nationalises Northern Rock

This is a fascinating statistic, especially when we see that the income levels of the participants are 50% higher than the average. Net Banks Gain One in Five Internet Households – 02.01.2008 – Bank Technology News Article The survey of 1,032 Internet households found the average age of an direct-banking user is 47.8, with an average income of $99,200 a year – compared to the average online banking user who is 52.1 and earns $60,300 annually Continue reading Direct Banks exhibit 20% market penetration

Pertuity strikes me as something different than the others we have seen, and their ‘anchor’ product, Dare to Compare is quite revolutionary, with potential to help people a lot especially as they build out the financial actions, that result. It would also fit nicely within or alongside something like Wesabe data for example. Our anchor product for our initial launch is Dare to Compare; a peer to peer financial comparison widget. You can try it out on our website via a quick and free registration. Users can compare themselves (around income, savings and debt) to (i) their peers in their … Continue reading Pertuity | another way to look at your finances

This term paper is written by Tessa Johnson, dated July 20th, 2027.  [Ed note:  2027 is now the official date for the future] GonzoBanker – Article This term paper outlines a historical review of the banking industry and examines the underlying causes behind the turbulent past 20 years that led up to the Financial and Wealth Services Industry Act of 2024. This act has essentially eliminated “banking” as a distinct industry in the United States. Looking back at banking 20 years ago, it is clear that this industry became entrapped in “legacy” issues that resulted in slow action, poor risk … Continue reading “Understanding the Decline and Demise of the Banking Industry”

As fast as we think things are changing, not so.  Blogs have been around for 10 years, even though they only gained mass prominence from 2003 onwards.  Blogs inroduced the concepts of simple mass web site opinion creation (posts) and conversation (comments).  [Note, the concept always existed in NNTP discussion boards, but they were not mass] Since then those blogging concepts have been evolved, combined with email and IM concepts, and the result is Social Networks.  Clearly the desire always existed, but the confluence of the right tools provided the recipe mix. NewsTrust – About this Story – Happy Blogiversary … Continue reading Change is not so fast | understanding the future