Banks in Minnesota, Michigan and Colorado were shut by regulators, bringing this year’s toll of U.S. failures to 98 amid the worst financial crisis in more than seven decades.
A court-appointed examiner investigating Lehman Brothers Holdings Inc.'s bankruptcy has been exploring whether the Federal Reserve improperly cut in front of other creditors owed money in the $613 billion bankruptcy case, records show.
The Federal Reserve is likely to keep interest rates low which in turn weakens the dollar—but don’t expect any government officials to officially endorse a low currency.
Just in case you thought Tim Geithner was telling the truth about desiring a strong dollar, here is an opinion by Jim Rickards on why the US is getting increasingly wrapped up in its stock market bubble, middle class and imports be damned, and why th
Nobel prize winning economist Joseph Stiglitz says that Goldman Sachs may have engaged in frontrunning. Ask a Goldman spokesman, and he or she will undoubtedly say that is a conspiracy theory.
The Federal Reserve Bank of New York announced today that Jeffrey B. Kindler and James S. Tisch have been elected to the New York Fed’s board as Class B directors, filling the remaining two vacancies on the board. Kindler, chairman and chief executiv
Billing records filed with the court show the examiner is investigating an issue that has angered many of Lehman's creditors: how the Federal Reserve and the New York Fed -- which lent Lehman $46 billion in cash and securities before its bankruptcy f
.Paulson and Federal Reserve ChairmanBen S. Bernanke also told Morgan Stanley Chief Executive Officer John Mackhe should be willing to sell his firm to JPMorgan Chase & Co. for $1 a share, according to excerpts from Sorkin’s new book, “Too Big to Fai
But if someone "else" (like THE TAXPAYER) will eat (almost all, in this case, essentially 95% of) the loss, then your incentives shift - in a big way.
First we have to understand that the banking system, the FDIC and the Treasury Department are essentially insolvent. If Japan and China decide to stop buying Treasury Bonds, the U.S. economy would immediately collapse. Japan is already moving in that
Consummate Chairman, We would like to direct Your attention to this letter written some months ago by that one person who comes closest to being called Your "supervisor." Indeed, we are well aware that You, Mighty Majesty, are not accountable to a
I know it's a difficult thing to stop lying when you're in Washington DC where the easiest way to determine if someone is being untruthful is simply to observe if their lips are moving, but this is going too far:
The Main video titled Glodman Sucks" Sachs - Fascism at its finest! features Matt Taibbi, reporter and contributing editor for Rolling Stone. He has investigated, reported on and exposed much on Goldman Sachs
Conflict of interest or what! More confirmation of how the ruling class manipulates at all costs with not even the slightest bit of ethics.
Sept. 30 (Bloomberg) -- Morgan Stanley Chief Executive Officer John Mack, who struggled to return the bank to profitability amid the financial crisis, said a single regulator should oversee financial institutions worldwide.
This is a short montage of a lecture by Joseph Peden of the The Ludwig von Mises Institute
. . The government said the fund that protects consumer bank deposits has fallen into the red and will remain there into 2012, a pointed symbol of how the aftershocks of the financial crisis will reverberate for years as banks continue to fail at a h
t was just a matter of time....A global regulator would ensure that U.S. banks aren’t subject to tighter regulations a push for regulation during the financial crisis has weakened as the administration of President Barack Obama pursues other tasks, h
Five months ago, the Gold Anti-Trust Action Committee (GATA), filed a second Freedom of Information Act (FOIA) request with the Federal Reserve System for documents from 1990 to date having to do with gold swaps, gold swapped, or proposed gold swaps.
I have since verified the authenticity of the document in a conversation with the Gerald R. Ford Library archivist Mark Fischer. Although the document appears to have a declassification date stamped on it of 6-28-05, Fischer tells me that the documen
Let's pray there is no run on the bank soon.In an unprecedented disclosure, the FDIC has highlighted that it expects the DIF reserve ratio to be negative as of September 30. As there are a whopping 48 hours before that deadline, one can safely assume
Tim Geithner will have some explaining to do to his banker backers why Congress is not too happy with the ongoing Wall Street bailout known as TARP.
One place to start is the Federal Housing Administration, the nation's insurer of nearly $750 billion in outstanding mortgages. The agency acknowledged this month that a new but still undisclosed HUD audit has found that FHA's cash reserve fund is ra
Following up on the quick mention now that I have a story to cite from Amherst:
The Federal Reserve is discussing the possibility of using "reverse repo" transactions with money market funds that would be aimed at draining liquidity from the financial system. The transaction would involve swapping the toxic assets on the Fed's
This gets a bit technical, but the Federal Reserve is flashing that there could be serious, I am talking major league serious, interest rate hikes down the road.
During the testimony by Tom Woods on Friday, in favor of H.R. 1207, Congressman Barney Frank stepped up to the plate with some hostile questioning
Zero Hedge has recently presented several declassified documents from the pre-1971 "Nixon Shock" days, that endorse the case for gold as a major historical factor in US monetary and foreign policy, as demonstrated by State Department and CIA disclosu
From CNBC's "Breaking News" banner: FDIC to Ask Banks to Pre-Pay Premiums to Inject Cash Into Deposit Insurance Fund (story developing) "Ask"? Somehow I suspect it will be something like this:
Rather than by the end of this year as originally scheduled, it’s the second time since august that the Federal Reserve has opted to slow emergency programs designed to encourage spending and boost the economy