Archive for January, 2009
Friday, January 16th, 2009
A second small bank has gone down today -- via CNN:
According to the FDIC, Bank of Clark County had total assets of $446.5 million and total deposits of $366.5 million. Uninsured deposits totaled $39.3 million.
Bank of Clark County will reopen on Tuesday as branches of Umpqua Bank.
The FDIC estimates the ...
Posted in FDIC FAILED BANKS | No Comments »
Friday, January 16th, 2009
The FDIC has shut down the first bank of the year. One wonders what took so long... low staff due to vacations, perhaps? National Bank of Commerce, a two-branch bank out of Berkeley, IL, had $430.9M in assets and $402.1M in deposits. The AP reports the deposits and branches will ...
Posted in FDIC FAILED BANKS | No Comments »
Friday, January 16th, 2009
Wall Street is a criminal enterprise based on a confidence scam, so it should come as no surprise that the swindle continues unabated. Bank of America and Citigroup, two of the biggest swindlers on the Street reported repugnant fourth-quarter results, but had a lot of clean up help from the ...
Posted in Bank Bailout Count, BREAKING NEWS! | 1 Comment »
Friday, January 16th, 2009
What did Bank of America do with your money? They spent it, silly.
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Posted in Bank Bailout Count, BREAKING NEWS! | No Comments »
Friday, January 16th, 2009
When JP Morgan led the cabal that created the creature from Jekyll Island, today's financial environment must have been exactly what he had in mind. Were he alive today, he would call this crisis nirvana.
In 1907, Morgan and his banker pals squeezed the credit markets and caused the stock ...
Posted in BREAKING NEWS! | 1 Comment »
Thursday, January 15th, 2009
January 14, 2009
Dr. Ron Paul on TARP Funds and Financial Services Hearing. Ron Paul says he and Barney Frank will introduce legislation in February to make the Fed accountable. Let's see how that goes.
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Posted in Bank Bailout Count, BREAKING NEWS! | No Comments »
Thursday, January 15th, 2009
Coming soon to a town square near you. Does there remain any doubt that the preparations for martial law are for real? As soon as Americans realize they've been shafted by TARP and there's no legal recourse, they will move to the streets with pitchforks in hand. It's a tried ...
Posted in BREAKING NEWS! | No Comments »
Tuesday, January 13th, 2009
We constantly hear the phrase " too big to fail." We ask: why not?
Here Peter Schiff points out that propping up failed companies essentially punishes successful ones and is inflationary to boot. Can anyone say backasswards?
What really chills me is hearing him say that the coming severe depression is being ...
Posted in Bank Bailout Count, BREAKING NEWS! | No Comments »
Monday, January 12th, 2009
In the video, Peter Schiff sounds like a true trader and he gives a good explanation for why so many people get it wrong in the stock market. But even more than that, he explains the coming blow-up of the bond market, i.e. the blowback from efforts to prevent ...
Posted in BREAKING NEWS! | No Comments »
Saturday, January 10th, 2009
When the Citigroup execs refuse their bonuses, you just know they have finished plundering the company. As the credit bubble swelled, refusing a bonus would have been considered setting a bad example at least and treason to American creditism at worst. Now, execs refuse those bad bonuses with pride in ...
Posted in Ailing, Bank Bailout Count, BREAKING NEWS! | No Comments »
