A couple of minor technical problems called “business” and “life” have now intruded on my increasingly bogged down publication schedule that, in the interest...
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Posts Tagged ‘ FDIC ’
US banking industry posts highest quarterly profit since 2007 – Los Angeles Times
KEPR 19US banking industry posts highest quarterly profit since 2007Los Angeles TimesBy Jim Puzzanghera WASHINGTON -- The US banking industry posted a $35.3-billion profit in the first quarter of the year, its best performance since 2007, the Federal D...
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FDIC Sues JPMorgan, Citigroup, BofA Securities, Deutsche Bank – Bloomberg
FDIC Sues JPMorgan, Citigroup, BofA Securities, Deutsche BankBloombergThe Federal Deposit Insurance Corp. sued JPMorgan Chase & Co. (JPM), Citigroup Inc. (C), Bank of America Securities and Deutsche Bank AG. (DBK) The FDIC sued in New York federal ...
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Regulators close small bank in Alabama, makes 24 US bank failures so far in 2012 – Washington Post
Regulators close small bank in Alabama, makes 24 US bank failures so far in 2012Washington PostWASHINGTON — Federal regulators have seized a small bank in Alabama, bringing to 24 the number of US banks that have failed so far this year. The Federal D...
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Community Banks – Some Will Fail, So Buy With Care – TheStreet.com
Community Banks - Some Will Fail, So Buy With CareTheStreet.comBy Richard Suttmeier 04/30/12 - 11:32 AM EDT NEW YORK (TheStreet) -- Bank failures have slowed so far in 2012, but the process is not over as five banks were shuddered by the FDIC last Frid...
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FDIC shuts down 5 banks in 4 states, makes 22 US bank failures so far in 2012 – Washington Post
Problem Bank ListFDIC shuts down 5 banks in 4 states, makes 22 US bank failures so far in 2012Washington PostWASHINGTON — Federal regulators have closed two banks in Maryland and one each in Minnesota, South Carolina and California, bringing to 22 th...
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How Housing Affordability Can Falter Even as House Prices Decline
The assumption that lower home prices improves the affordability of houses ignores two critical inputs: interest rates and income.
That the U.S. housing market is still in a post-bubble slump is no secret, as revealed by this chart courtesy of stre...
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Britain plans to make banks split off investment business…
UK Daily Mail link (British govt's Osbourne called this the "Most radical reform of banking in decades...", yet the NYTimes didn't think the 'news was fit to print' until a day later, and then page 2 of the business section below the fold) LOL
When Gr...
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Out of Answers, Federal Reserve Can Only Offer Empty Rhetoric
The Federal Open Market Committee (FOMC) is scheduled to issue a statement at 2:15 pm. today (Tuesday), but don't expect anything other than more empty rhetoric.
Indeed, with few options remaining, the Fed is expected to produce little more than a statement designed to reassure the markets following today's...
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Jim Rogers: "The Fed is Lying to Us"
Despite statements to the contrary, the U.S. Federal Reserve has continued to pump money into the economy, says investing legend Jim Rogers.
The resulting low interest rates and creeping inflation, he says, are destroying the wealth of millions.
" Bernanke said last August he was keeping...
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Bailout Bandits: The Biggest Borrowers From the U.S. Federal Reserve
The Eurozone debt crisis has replaced the U.S. financial crisis as the disaster du jour. But make no mistake: U.S. taxpayers will be paying the tab for the U.S. crisis for years.
That's evidently not true of the banking sector, however, whose massive financial-crisis windfall is just now coming...
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How Much Cash Should You Hold?
As you might imagine, I receive a lot of questions from readers around the world and right now the question I'm being asked most frequently is, "How much cash should I be holding?"
There's no right answer, but given the extraordinary times we're living in, I think the more...
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Obama Taps Inflation Hawk Hoenig for the FDIC
Suprised That Obama Tapped Inflation Hawk Hoenig for the FDIC? Don't Be
By Daniel Indiviglio
Oct 21 2011, 12:29 PM ET
Although he's best known for his Fed dissents, he'll be tough on the big banks
Last year, those of us who cover the Federal Reser...
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Big Banks and Wall Street – America’s Financial Vietnam
Three years ago the most-powerful instutitions in America were the nation’s largest banks and brokerages, Wall Street for short.
While millions of people were losing their homes, their jobs and their savings, the nation’s elite extracted a $700...
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Did big banks leave TARP too soon?
Did big banks leave TARP too soon?
By Jennifer Liberto
@CNNMoney September 30, 2011: 5:35 AM ET
Former FDIC Chair Sheila Bair pushed for the big banks to be held to tougher capital standards before they exited TARP.
WASHINGTON (CNNMoney) -- Regulato...
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Is it too early to panic?
Do I finish my coffee and then attend the deposition, or do I grab the BOB and head for "undisclosed location"?
(On a related topic, when does the temporary extension of FDIC account coverage expire? December?)
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The U.S. Government Could Take 14% of Your Wealth… Overnight
Imagine losing 14% of your wealth overnight - doing absolutely nothing at all.
You didn't invest in the wrong stock. Buy the wrong piece of real estate. Or gamble on the wrong outcome.
You just went to sleep...
And now your $300,000 bank account is worth...
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Beware, Taxpayers: The Days of U.S. Bank Bailouts Might Not Be Over
The U.S. government has spent more than $12 trillion to prop up large financial institutions since the 2008 financial meltdown, but more taxpayer money could still be used for U.S. bank bailouts.
A Standard & Poor's report Tuesday said that despite the government's efforts at financial...
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Don’t be Fooled: U.S. Banks Aren’t as Strong as They Look
U.S. banks are seeing positive trends in several measures of their health.
That's the good news.
Unfortunately, U.S. banks continue to struggle with some much-more-deeply entrenched problems. Those problems pose a major threat to banking-system health.
And they could even cause the U.S. economy to stumble.
FDIC Loses $25 Billion in One Year
FDIC Loses $25 Billion in One Year
"Despite increased assets, the overwhelming majority of which are receivables from resolutions the organization has taken on (“resolutions” is the term the FDIC uses on financials to refer to the failed banks it ...
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FDIC- Everybody Play Daisy Chain
As a consequence of the pretend approach described in my CRE “Primer” post, I would ultimately expect the FDIC to be the vehicle that will be saddled with hundreds of billions in impaired CRE. The longer they wait to resolve this issue, the worse the condition, the worse the recoveries, and the more slum like...
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Russ Winter’s Actionable- Failure, the Final Frontier
I need to correct and update my recent post on the FDIC. In the last three weeks, the FDIC has ended its pretend-and-extend approach and is now more rapidly closing down banks, and bigger ones to boot. The total tab for the FDIC in April was $9.4 billion, which is a far cry from...
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Russ Winter’s Actionable- FDIC Hope and Pray
The FDIC funding is again a sight to behold. They have already tapped the banking system for $45 billion for an advance payment of 2010-2012 dues. At year end, they were $20.9 billion in the hole, but with this replenishment “recapitalized” to $24 billion in which to insure a banking system with $13.1 trillion...
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Radio Free Wall Street 2/24/10
Russ Winter and Lee Adler unspin the ConCon data, the Lying Economic Indicators, the Case Chiller, new house sales, and the revival of a dangerous Treasury borrowing program. Also we debate homebuilder economics, and Russ talks about the problem with inventories, and the FDIC.
Not a subscriber? Click here to hear a free...
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Screw You, New York Times
As you know well by now if you have been to either of our message boards more than a couple times, I am a stickler for respecting copyright and posting only snippets of stories from third party sources, with clear attributions and links. That’s why I was so incensed when I got the note...
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Still Waiting For Evidence of Recovery
By Heritage Ray FDIC leases almost 151,000 square feet in Schaumburg (Now here’s a growth business) The Federal Deposit Insurance Corp. has signed a short-term office lease for almost 151,000 square feet (more than half the building) in Schaumburg, Illinois to handle receiverships and asset sales for its growing roster of failed Midwestern banks.
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Falling into a Trap
Bianco Research put together a matrix of the Gumnut’s “falling into a trap” market intervention and shows the sheer scale, danger and risk for the Gumnut. Fits into the posts I rendered over the last week.
The Federal Reserve is printing money to buy Treasuries, mortgages and agencies (over $500 billion at last...
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Excerpt from Warren Buffet’s shareholder letter
Funders that have access to any sort of government guarantee banks with FDIC-insured deposits, large entities with commercial paper now backed by the Federal Reserve, and others who are using imaginative methods (or lobbying skills) to come under the governments umbrella have money costs that are...
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Hidden Chinks in Treasury Market- Professional Edition
When the Fed, Treasury, and FDIC issued a statement yesterday on the Citigroup bailout, I didn’t know whether to laugh, cry, or… The potential enormity of this bailout raises the question of whether the Fed will continue to be able to recirculate the world’s existing cash, or will need to monetize. We don’t have...
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