The plot is already familiar: the Friday night, FDIC prepack, in this case, with Birmingham, Alabama-based Regions bank assuming all $974 million of deposits and $34 million of assets. The bank focused on real estate lending and had a "faith bas
The entire enterprise of Government, in the bloated and intrusive form we know it as, is destined to fail. The failure of any and every coercive monopoly Government is assured by its own dynamics.
Ron Paul tells it like it is! video
The insurance fund’s top regulator said it may have to borrow money from the Treasury to make good on that promise to consumers.
The weakened US dollar has fallen out of favor with organized crime groups to pay for drug shipments or to settle scores, a Canadian government report said.
I am pleased to inform you that the Liberty Dollar defenders et al filed their Answer to the AUSA Thomas Ascik Complaint on Wednesday, August 13.
"We're not just going to see mid-sized banks go under in the next few months, we're going to see a whopper, we're going to see a big one, one of the big investment banks or big banks," said Rogoff, who is an economics professor
Since the credit crisis erupted a year ago, the Bush administration has presided over one of the broadest expansions of the government into private lending in U.S. history, risking public money to prop up financial firms both large and small.
The news headlines have been packed with economic Gloom and Doom, in recent weeks. Things seem to be spinning out of control--with collapsing credit markets, massive bailouts, emergency cash infusions, and taxpayer "stimulus" checks
The United States of America has now become the world's first full-service kleptocracy, a form of government described earlier in this space as a government of, by, and for the robbers.
The Federal Reserve is the central Bank of the US that was created by Congress in 1913. Since then all other banks lost the authority to print and issue their own currency. However, they still can create money literally out of thin air
First Priority Bank, Bradenton, Florida, was closed today by the Commissioner of the Florida Office of Financial Regulation, and the Federal Deposit Insurance Corporation (FDIC) was named receiver. It was immediately sold to
Sober observers understand it to be the most corrupt legislative assembly in human history. To those characterizations of the United States Senate we must now add another, perhaps the final one: Gravedigger of the republic.
WASHINGTON (AP) - The businessman arrived at the Treasury Department carrying a suitcase stuffed with about $5.2 million. The bills were decomposing, nearly unrecognizable, and he asked to swap them for a cashier's check. He said the money came f
Followers of the Austrian school of economics have warned that unless Congress moved to end the implicit government guarantee of Fannie Mae and Freddie Mac, and disengage the US Government from the housing market, America would face a crisis in hous
...and convene a meeting on Monday on the economy and the financial system. The discussion will include former Federal Reserve Chairman Paul Volcker, former U.S. Treasury Secretary Robert Rubin and billionaire investor Warren Buffett, chairman of Ber
"While these increases have not for the most part been passed on at the retail level, it is inevitable that they will be at some point. Car dealers and other retailers cannot continue to absorb rising costs at the wholesale level and not pass th
Covered bonds will be used to render profitable assets off soon-to-be-bankrupt corporates, leaving pensioners and other creditors with the stripped carcass in the liquidation. Am I too cynical?
"The blogs were a bit out of control," said the chairman of the Federal Deposit Insurance Corp. "We're going to continue to stay on top of it. The misinformation that came out over the weekend fed a lot of depositors' fears.
28 branches of 1st National Bank of Nevada and First Heritage Bank, operating in Nevada, Arizona and California, were closed Friday by federal regulators. The banks, owned by Scottsdale-based First National Bank Holding Co., were scheduled to reopen
U.S. regulators took over two banks on Friday and sold them to Mutual of Omaha Bank, the sixth and seventh bank failures this year as financial institutions struggle with a housing bust and credit crunch.
By the way, I am not just talking about WaMu here. Any bank whose share price is in the single digits is at extreme risk. Any bank whose share price is under $5 is at risk of imploding overnight.
[Saturday?! You can't even get them to work on Friday!] The U.S. Senate plans to consider the housing taxpayer bailout designed to shore up the wallets of wealthy investors in the mismanaged government Fannie Mae and Freddie Mac and
Silly me. Instead, Shelia Bair wants to shut off the only source of information as to how unsound the banking system and FDIC is.
The United States faced increasing inflationary pressures in recent weeks amid slowing economic growth, the Federal Reserve said on Wednesday, as it described conditions in some areas as "grim," "morose" or "bleak."
Of the $6.84 Trillion in bank deposits, the total cash on hand at banks is a mere $273.7 Billion. Where is the rest of the loot?
I also find it hard to believe our foreign creditors will continue to hold U.S. Treasury bonds if the U.S. Treasury takes on all of the mortgage losses of Fannie Mae and Freddie Mac. I think they'll dump our bonds and that will literally be the e
Is this a hint of the banks and brokers the Fed and SEC want to protect at all costs? Or is this some kind of setup play, an open invitation to short the others before the same stunt is pulled again.
The best defense against misinformation is the truth. To paraphrase Jack Nicholson, the market can’t handle not having the truth. Lack of information leads to lack of confidence. ....
Then kick him hard square in the ass! Try it, you'll like it. Rumored to be Paulson's second favorite closet game after Raoul.