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Tag Archives: banks
Jon Stewart: “Our Government is the World’s Dumbest Loanshark”
The Daily Show: America’s Next TARP Model: TARP was a $700 billion bailout/loan guarantee. There was apparently another $7.7 trillion loan program. Banks borrowed money from the government at 0.01% interest. Then they used the money to buy U.S. Treasuries … Continue reading
Homeowners Foreclose on Bank of America
Beautiful.
Bank runs would never happen here
Bank runs only happen in old black and white movies. And South Korea: Last Friday we reported that the soon to be quite pervasive spectacle of running to the bank only to find there is no money available, had spread … Continue reading
Two Approaches to Broken Banks: Iceland vs. Ireland
If your country’s banking system is about to fail should you rescue it or let it collapse? Iceland’s banking system fell into a crisis before most. The government let it fall. Now some people are saying that was the best … Continue reading
Imminent Death of Green Bank Predicted
The Bank Draft – Analyst: Green “must raise additional capital immediately to survive”: Green Bankshares on Wednesday reported a third-quarter net loss available to common shareholders of $36.4 million, prompting a plunge in the company’s share price and downgrades from … Continue reading
Dept of Housing and Urban Development May Fine First Tennessee Bank
The Bank Draft – Official floats possibility of civil penalty for First Tennessee: Late last month, a regional inspector general for the Department of Housing and Urban Development, released a report detailing the government’s findings. The report said the IG’s … Continue reading
Bank of America Halts Foreclosures in all 50 States
“As we expected when we reported that the Delaware AG got into the foreclosure fray (Delaware not being a judicial state), it was only a matter of time before foreclosures would be halted in all 50 states. Sure enough, Diana … Continue reading
Word of the Day: Texas Ratio (Banking)
From Chris Brunner of LewRockwell.com via Wikipedia: Developed by Gerard Cassidy, the Texas ratio is a measure of a bank’s credit troubles. Basically, the higher the ratio, the worse the situation is for that particular bank. Banks with a ratio … Continue reading
Federal Reserve Suddenly Shows $420 Billion in Surprise Loans
Mark Denninger wonders how the Federal Reserve loaned $420 billion in a single week at the end of March. One possibility comes from Seeking Alpha: Bank Lending and the Banking System Remain Weak: The commercial banking figures for the banking … Continue reading
Bush administration, Federal Reserve lied about banks’ health in 2008
ABC News – Government Watchdog Says Treasury and Fed Knew Bailed-Out Banks Were Not Healthy: The Treasury Department and the Federal Reserve lied to the American public last fall when they said that the first nine banks to receive government … Continue reading
“Some days I really wish I could go back to being completely clueless about the economy”
From a financial board I read. “Some days I really wish I could go back to being completely clueless about the economy. Now I know enough to be scared but not enough to actually know what to do.” I know … Continue reading
Where do you put money if you’re concerned about bank failures?
Over on this post Placebo has a question: I’ve noticed you’ve posted quite a bit on banks failing. So where are you parking your money in light of this widespread problem? I know gold is one place … Thanks! Right … Continue reading
FDIC may borrow money from banks to rescue banks
Who will bailout the bailer-outers? New York Times – F.D.I.C. May Borrow Funds From Banks: Tired of the government bailing out banks? Get ready for this: officials may soon ask banks to bail out the government. Senior regulators say they … Continue reading
45% of banks wouldn’t have been profitable without overdraft fees
USA Today – Banks’ ‘courtesy’ loans at soaring rates irk consumers: Senate Banking Committee Chairman Chris Dodd, D-Conn., said if the Fed doesn’t curb overdraft abuses, he’ll “pursue legislative action.” Rep. Carolyn Maloney, D-N.Y., has sponsored legislation requiring banks to … Continue reading
Too bigger to fail
Washington Post – Banks ‘Too Big to Fail’ Have Grown Even Bigger: The crisis may be turning out very well for many of the behemoths that dominate U.S. finance. A series of federally arranged mergers safely landed troubled banks on … Continue reading
FDIC quarterly report: problem banks rise, funds fall
Financial Times – US ‘problem’ bank list hits 15-year high: The number of US banks at risk of failure is at a 15-year-high while the fund protecting depositors is at its lowest level since 1993, according to figures that highlight … Continue reading
Trouble in European banks
Some Eastern European countries are experiencing severe problems, with Latvia being one of the worst. That’s creating risk in Western European banks, which loaned heavily to emerging markets. The chart above shows risk for banks due to loans to other … Continue reading
Federal Reserve’s list of problem banks
Calculated Risk has it. Click on the State header to sort by state. There are five in Tennessee. For each bank there’s a link to the document the bank received specifying correction actions for inadequate reserves or high concentrations of … Continue reading
Bankrate.com 5 star bank ratings
You can check Bankrate.com’s bank ratings here. Five star banks are listed here. Five star Tennessee banks below.
Treasury Dept. extends money market protection to September 18, 2009
I mentioned the other day that the protection for money market accounts would expire April 30. It turns out the Treasury Department has extended the protection: The U.S. Treasury Department today announced an extension of its temporary Money Market Funds … Continue reading
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