The beginning of the end, as the Senate's investigation suggests, came in 1999, when WaMu snapped up a subprime lender named Long Beach Mortgage Company.
Ron Paul Can Be President - Austrian Economics Rising - The Next Supervolcano - Health Dangers Lurk in Everyday Products
Homeless people who built a community of campground tents just a few blocks from downtown Camden got a reprieve Thursday, allowing them to remain, at least for now, at the self-governing settlement in one of the nation's poorest cities.
The CEO of embattled Abercrombie & Fitch, one of the worst-performing brands of the recession, in no small part due to his management decisions, is actually getting paid $4 million just to stop using the company plane as a personal plaything.
Forty-four states and the District of Columbia recorded jobless rate increases from a year earlier, 5 states had decreases, and 1 state had no change.
The index hit an all-time low of -54 in the week of Dec. 1, 2008, and then again in the week of Jan. 25, 2009, and has not been in positive territory since March 2007.
Two weeks ago, the Irvine Housing Blog stated in Bank of America to Increase Foreclosure Rate by 600% in 2010 that Bank of America's OREO department said that the bank would increase its foreclosure activity from 7500 per month to 45,000 per month.
Arizona's unemployment rate is almost at the federal level of 9.7 percent. But while the federal rate has remained the same for three months, Arizona's has risen for the past four months. It was 9.5 percent in February.
I have to disagree with Barry Ritholtz on this issue. In my opinion the editors of Newsweek are idiots, and this cover is pure propaganda.
Former mayor Richard Riordan has been roiling the civic waters by arguing that the surest -- and perhaps the only -- way out of Los Angeles' fiscal crisis is a declaration of municipal bankruptcy, which he believes ought to come sooner rather than...
The Fortune 500 largest U.S. companies slashed a record 821,000 jobs last year, even as their collective profit soared more than three-fold to $391 billion, according to the business magazine, which issued the annual ranking on Thursday.
In the week ending April 10, the advance figure for seasonally adjusted initial claims was 484,000, an increase of 24,000 from the previous week's unrevised figure of 460,000.
The policies of the current U.S. administration have created "political risk" to investing in the United States, billionaire real estate investor Sam Zell said. Appearing on a panel at the Urban Land Institute's real estate summit in Boston, Zell sai
What's the significance for banks and our economy? First, there will be fewer credit options for the 90% of small businesses and consumers who revolve their credit card balances at least once a year.
Since small firms produce half the private sector GDP, it is hard to envision a sustained recovery without their participation. Once the gains from inventory rebuilding are exhausted, it is hard to see what will fuel growth.
So-called "struggling" homeowners who, despite being delinquent on their mortgage and in fact not having paid in over a year, are spending upwards of $1,500 monthly in places like Best Buy, hairdressers and tony clothing stores.
The Sociopathic Dance of Politics by Butler Shaffer / Seven More States Join the Gun Fight / Arts and Crafts for Survival / No Takers at the Foreclosure Auction / Spy vs. Spy - Intrigue between the CIA and Israel
The second came from JPMorgan Chase (NYSE: JPM) CEO Jamie Dimon's annual letter to shareholders, which says a skill he strives for is the "Ability to face facts."
When will the de-leveraging bust resume? When we stop worrying about it. This afternoon, we realized that deep down, our feelings had changed: we had stopped worrying about a resumption of the bear market.
Commercial Real Estate delinquency rates for loans held >30 days rose to 5.69% (as REITs continue to hit record highs)
The Department of Homeland Security has just reported that during 2009, they issued 1,130,818 new Green Cards to foreign nationals, allowing them to work legally in this country.
“The March reading is very low and headed in the wrong direction,” said Bill Dunkelberg, NFIB chief economist. “Something isn’t sitting well with small business owners.
Americans, I have some bad news for you: You have the worst quality of life in the developed world – by a wide margin. If you had any idea of how people really lived in Western Europe, Australia, New Zealand, Canada and many parts of Asia, you’d
The reformers have essentially lined up between two solutions. One is to break up big American financial institutions deemed “too big to fail,” whose possible collapse is a “systemic” risk to the entire system. The other approach is to maintain the
Gross tax withholdings have collapsed in 2010 compared to the even disastrous 2009. Through the 14th week of the calendar year (not fiscal), cumulative tax withholdings in 2010 are $477.9 billion, $13.5 billion less than the $491.4 billion in 2009.
In short, my impression is that investors are deluding themselves about the solvency of the banking system. People learned in the 1930's that when you don't require the reported value of assets to have a clear and tangible link to the value...
Jack Gregson uses simple (and complex) charts to explain 'The True State of the Economy 2010' (VIDEO)
Last week the federal government’s Financial Crisis Inquiry Commission held hearings as part of their continuing investigation into the causes of the acute economic meltdown which occurred in late summer 2008. This bipartisan commission, partly insp
There is no mention of the trillions of dollars on the Federal Reserve’s balance sheet. The ongoing costs of the Federal rescue of Fannie and Freddie — indeed, the complete takeover of $5 trillion in mortgages by Uncle Sam — is glossed over.
The growth in local government debt has exploded since the 1970s. We went from $295 billion in 1968 to $2.3 trillion today. But as Greece is demonstrating, there is such a thing as having too much debt and at a certain point the markets no longer..