Obama Slaps GM CEO — But Why Didn’t He Do it to Bankers?
Tuesday, March 31st, 2009Good question, but unfortunately no decent answer from the administration. <>
Archive for March, 2009
Good question, but unfortunately no decent answer from the administration. <>
Omni National Bank, Atlanta, Georgia
Friday, March 27th, 2009The 21st "official" bank implosion of 2009 was centered on Georgia, yet again (Georgia must be on the FDIC's mind, for sure), as Omni National Bank stepped up to the plate and was knocked down. Bloomberg has details on the bank's implosion: Omni National, with $980 million in assets, was shut by ...
Ron Paul: Debt Is to Blame
Thursday, March 26th, 2009Ron Paul correctly says we can blame debt for this horribly flawed system. Pay attention to the reference of the depression in 1921, which no one remembers because it only lasted a year. The recovery happened so quickly because the government stayed out of the market. Things sure have changed. Instead ...
The Goldman Conduit
Wednesday, March 25th, 2009Geithner's plan is now out of the bag, and you've no doubt heard what's in it: nothing new. It's simply a rehashed version of Paulson's old bad bank plan dressed up in drag with a lot of lipstick. Admittedly, it's a con. Paulson's plan actually repackages the infamous Master Shafter ...
Penision Implosion
Wednesday, March 25th, 2009First the housing market took a dive. Then the stock market imploded. Now the blast of the bursting credit bubble is taking jobs and employee pensions. I have mixed feelings about the pensions. Many pension plans, especially municipal ones, are very generous, but many also compensate for the low salary while ...
Cash is Crack, Get Gold
Monday, March 23rd, 2009What will be the straw that breaks the dollar's back? The answer to that question is rarely known without the benefit of hindsight, after which it is usually as obvious as it is useless. Currency collapses have historically been severe overnight events precipitated by intense inflationary pressure over time. The latter ...
U.S. Central Federal Credit Union
Saturday, March 21st, 2009The National Credit Union Administration Board today placed U.S. Central Federal Credit Union, Lenexa, Kansas, into conservatorship to stabilize the corporate credit union system and resolve balance sheet issues. The seizure was done under the Corporate Stabilization Plan. U.S. Central Federal Credit Union in Lenexa, Kan., and Western Corporate Federal Credit Union ...
Western Corporate Federal Credit Union
Saturday, March 21st, 2009Western Corporate Federal Credit Union, in San Dimas, CA, was one of two credit unions placed into conservatorship by the National Credit Union Administration Board today. The seizure was done under the Corporate Stabilization Plan to help stabilize the corporate credit union system and resolve balance sheet issues. U.S. Central Federal Credit Union in Lenexa, Kan., ...
Colorado National Bank, Colorado Springs, CO
Friday, March 20th, 2009After a week off the FDIC caught its breath and is active again, closing three more troubled banks after the close of buisness today. Colorado National Bank, CO, became the 19th bank closed by the FDIC in 2009. Federal regulators this afernoon seized Colorado National Bank, CO, the first local bank failure ...
TeamBank, N.A., Paola, KS
Friday, March 20th, 2009After a week off, the FDIC caught its breath and is active again, closing three more troubled banks after the close of buisness today. Federal regulators this afternoon seized TeamBank, N.A., Paola, KS, making the troubled lender the 20th local bank failure of 2009. Great Southern Bank, a subsidiary of Great Southern Bancorp, ...
