Reversal of fortune

November 1, 2011 12:52:04 PM PDT
So who says consumers have no power? Angry backlash - that's what will get things done. No other conclusion to the hasty withdrawal of big banks - including Bank of America, which led the charge - from levying $5 monthly debit card fees for customers who don't keep a big minimum balance.

Some of the banks even said they're refunding past charges.

Not that's power to the people!

We'll have the latest on the big bank retreat, tonight at 11.

Also at 11, oh what a thin, gray line some otherwise liberal politicians are walking these days - the politicians who represent Lower Manhattan where the Occupy Wall Street protesters are encamped.

Today they wrote to Mayor Bloomberg, asking him to enforce the noise and sanitation laws at the encampment - Zuccotti Park.

But there was a big caveat in the letter from Assembly Speaker Sheldon Silver, Senator Daniel Squadron, Congressman Jerry Nadler, and Council member Margaret Chin - "We want to once again express our full support for the protestors' First Amendment rights to speak and to assemble? We sympathize with the movement's message and we feel it is important that their voices be heard."

Talk about the thin line, right?

I'm just sayin'.

We're also out in the 'burbs, where huge chunks of population remain without power tonight - hundreds of thousands of people.

And our investigative reporter Jim Hoffer has the heartbreaking and infuriating story of an Army Master Sergeant whose medals and commendations were stolen when he retired, and the Pentagon shipped his belongings from Germany to his home on Long Island.


With no recourse.

We're also following the stunning developments of MF Global - the failed securities brokerage headed by Jon Corzine, the former New Jersey Governor, former U.S. Senator and former head of the investment giant Goldman Sachs.

Federal officials now say an executive with the company admits using clients' money to fund the brokerage as its financial troubles grew. That's a huge no-no.

This story is not good for Mr. Corzine.

We'll also have any breaking news of the night, plus Meteorologist Lee Goldberg's AccuWeather forecast, and Rob Powers with the night's sports. I hope you can join Sade Baderinwa and me, tonight at 11.


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