Tag Archives: banks

Matt Taibbi on the Wall Street Bond Scam No One Heard About

Rolling Stone – The Scam Wall Street Learned From the Mafia How America’s biggest banks took part in a nationwide bid-rigging conspiracy – until they were caught on tape Given the complexities of bond investments, it’s impossible to know exactly … Continue reading

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Moody’s Cuts Credit Ratings of 15 of the World’s Biggest Banks

Reuters – Moody’s cuts ratings of 15 banks: “The biggest surprise is the three-notch downgrade of Credit Suisse, which no one was looking for,” said Mark Grant, managing director at Southwest Securities Inc. “In fact, it was Morgan Stanley that … Continue reading

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“You’re not stabilizing the market. You’re creating more chaos.”

“You’re not stabilizing the market. You’re creating more chaos.” It’s only taken six years to learn, but the lesson may finally be sinking in: Public policy designed to keep bad borrowers in homes they don’t want to pay for has … Continue reading

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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

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Homeowners Foreclose on Bank of America

Beautiful. U.S. Patent and Trademark Office publishes patent for neonatal jaundice. this web site jaundice in newborns Gastroenterology Week December 27, 2004 2004 DEC 27 – (NewsRx.com & NewsRx.net) — WellSpring Pharmaceutical Corporation announced that the U.S. Patent and Trademark … Continue reading

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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

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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

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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

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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

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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

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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

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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

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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

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“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

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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

Posted in Best Of, Economics | Tagged , , , | 10 Comments