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Tag Search Results For 'banking crisis' (117)
Former Top IMF Economist Predicts Large U.S. Bank Failures
Boom2Bust.com | 20 hours ago by Christopher E. Hill
When it comes to the credit and banking crisis here in the United States— you ain’t seen nothing yet. That’s according to a former chief economist of the International Monetary Fund. Bloomberg’s Shamim Adam wrote yesterday: Credit market read more
Quote For The Week
Boom2Bust.com | August 19th 2008 by Christopher E. Hill
Financial analyst Eric King talked about gold and silver on the Financial Sense Newshour this weekend, and warned listeners: But I want people to listen carefully to what I’m about to say to them. Do not listen to statements made from this governm read more
History’s Déjà vu or Déjà voo-doo!
Dare 2 Believe! | August 18th 2008 by Tom Desrosier
They say History repeats itself. And today it seems to be doing so with break-neck speed! Yes, take counsel, indeed, take flight - for behold, everything bad that has ever beset humanity, has suddenly returned to once again darken our wor read more
Focusing On The Future: the Phisix and the Philippine Presidentia…
Prudent Investor Newsletters | August 17th 2008 by prudentinvestornewsletters
``The typical US investor tends to have about 80 percent of equities in the US. The world of tomorrow suggests a much greater exposure overseas. In general, you should consider holding a third of your equities in the US, a third in industrial countri read more
Why Do Banks Fail On Fridays?
Boom2Bust.com | August 15th 2008 by Christopher E. Hill
Back on August 7, the daily web magazine Slate.com attempted to explain this phenomenon. With assistance from David Barr and Robert Schoppe of the Federal Deposit Insurance Corporation, Nina Shen Rastogi wrote: Last week, First Priority Bank in Brade read more
Credit Crisis Far From Over For Financial Sector
Boom2Bust.com | August 13th 2008 by Christopher E. Hill
Bank and securities firm write-downs since the beginning of 2007 now total $503 billion. And yet, a number of analysts are saying that the carnage is far from being done. Bloomberg’s Jeff Kearns wrote earlier today: The credit crisis is “broad, d read more
UK Unemployment
Cynicus Economicus | August 13th 2008 by Cynicus Economicus
I have long been predicting an accelerating increase in the levels of unemployment, going back to November of last year, and more recently said this:However, also expect the rate of rise in unemployment to increase more quickly in the coming months ( read more
Worrisome News From The Fed
Boom2Bust.com | August 12th 2008 by Christopher E. Hill
From the Wall Street Journal’s Real Time Economics Blog yesterday: U.S. banks continued to tighten their standards on loans to households and businesses in the second quarter, said a Federal Reserve study that also shows that many banks think the c read more
Write-Downs Approach $500 Billion, With More To Come
Boom2Bust.com | August 8th 2008 by Christopher E. Hill
According to Bloomberg today, the world’s biggest banks and brokerages have reported $497 billion of write-downs since the start of 2007. And the end is nowhere in sight, according to CNN Money’s Paul R. La Monica. The editor-at-large wrote this read more
UBS Face $25bn Bite In The ARS.
Asset Manager | August 8th 2008 by Winterman
If all wasn't already bad enough for the beleaguered UBS, things are now starting to get serious. Facing prosecution in the US for various charges of aiding tax fraud the US authorities also threw in a charge of fraudulently selling auction-rate secu read more
Next Wave Of Mortgage Defaults Coming
Boom2Bust.com | August 5th 2008 by Christopher E. Hill
Think the U.S. housing crisis is nearing an end? Think again, says Vikas Bajaj of the Paris-based International Herald Tribune. Bajaj wrote yesterday: The first wave of Americans to default on their home mortgages appears to be cresting, but a second read more
Move Over Money Honey, It’s The Diva Of Doom
Boom2Bust.com | August 5th 2008 by Christopher E. Hill
Maria Bartiromo? As my British footballing friends across the pond would say, “Who are yer?” While CNBC’s “Money Honey” was an icon of the nineties stock market boom, Oppenheimer analyst Meredith Whitney, who I refer to as “The Diva of Do read more
“Hidden Credit Card Fees Are Costing You” (via CNN Money)
WayTooHigh.com - The Credit Card Interchange Report | August 1st 2008 by ScanMyPhotos.com - Mitch Goldstone
New legislation may mean an end to interchange fees, which cost the average family more than $400 a year By Jessica Dickler, CNNMoney.com staff writer Last Updated: July 31, 2008: 5:20 PM EDT NEW YORK (CNNMoney.com) — Swiping your credit card read more
Federal Reserve Installs More Confidence
Busted: Bankers and the Digital Economy | July 30th 2008 by TNTalk
Rhetoric aside, tough times are clearly ahead in the eyes of the U.S. Federal Reserve system. Not one to be outdone, the Fed has moved to expand and strengthen confidence in the U.S. financial system. The Fed is adopting longer terms for banking inst read more
Isn't all Growth built on Debt?
Cynicus Economicus | July 27th 2008 by Cynicus Economicus
I have had a comment on the question of debt, and consumer debt in economic growth, from a regular commentator 'Lemming' (whose questions become ever more perceptive and interesting):'I'm still a bit baffled, and this section seems to fit quite neat read more
The Next Great Depression
Boom2Bust.com | July 24th 2008 by Christopher E. Hill
Taking it down a few notches today, I enjoyed a nice cigar from the Dominican Republic this afternoon out on my balcony here in the Windy City. Kind of bummed out that one of my suppliers raised their prices, though. Too bad. I almost pulled a JFK an read more
The Market and the Crash
Cynicus Economicus | July 23rd 2008 by Cynicus Economicus
I have been reading several articles, and comments, over the last couple of months in which 'the market' is being blamed for the mess that the world economy has fallen into. There are calls from every direction for more regulation of markets in gener read more
Bank of America beats expectations but some analysts worry
Will to Exist | July 22nd 2008 by Trevor Snyder
More Bank Failures Ahead?
Boom2Bust.com | July 16th 2008 by Christopher E. Hill
According to the Paris-based publication International Herald Tribune, a number of analysts are predicting more U.S. bank failures in the aftermath of the IndyMac tragedy. IHT’s Louise Story wrote Monday: As home prices continue to decline and loan read more
Wall Street Journal’s Smack Down Of Senator Schumer
Boom2Bust.com | July 16th 2008 by Christopher E. Hill
If U.S. Senator Charles Schumer (D-NY) is a subscriber to the Wall Street Journal, I’m pretty sure he’s in the process of cancelling it as we speak. Even if it was a complimentary subscription. Last night, I happened to come across an op-ed on th read more
Furious IndyMac Customers Caught On Video
Boom2Bust.com | July 15th 2008 by Christopher E. Hill
Los Angeles television station KTLA Channel 5 was broadcasting from an Encino IndyMac branch this morning as customers lined up to try and withdraw money from the failed bank. When word got out that some customers wouldn’t be allowed in, tempers fl read more
Quote For The Week
Boom2Bust.com | July 14th 2008 by Christopher E. Hill
The administration is doing what they always do, blaming the fire on the person who called 911. -New York Senator Charles Schumer, deflecting blame that he was partially responsible for the IndyMac bank run and failure last week. SHARETHIS.addEntry( read more
FDIC Failed Bank List
Boom2Bust.com | July 14th 2008 by Christopher E. Hill
For all of you readers “keeping score” of bank failures in the United States, I happened to come across a very interesting resource this morning. If you go to the Federal Deposit Insurance Corporation (FDIC) website, at the bottom right-hand corn read more
IndyMac Collapse Second Largest Bank Failure In U.S. History
Boom2Bust.com | July 11th 2008 by Christopher E. Hill
Well, it wasn’t long before all those recalled FDIC employees were put to good use. From MarketWatch tonight: IndyMac Bancorp Inc. became the biggest casualty of the subprime mortgage crisis on Friday, as federal regulators shut down the troubled P read more
Small Banks Getting Battered By Construction Loans
Boom2Bust.com | July 9th 2008 by Christopher E. Hill
Back on March 25, I mentioned that the Associated Press was reporting the Federal Deposit Insurance Corp., or FDIC, was planning to increase staffing 60% to handle an anticipated surge in troubled financial institutions. From that post: The Federal D read more
Financial Chaos Not Much Of A Surprise For Some
Boom2Bust.com | July 1st 2008 by Christopher E. Hill
I came across a piece the other day where the Chicago Tribune’s personal finance columnist Gail MarksJarvis talked about PIMCO’s Mohamed El-Erian and his visit with professional investors at Morningstar’s annual investment conference in Chicago read more
Gas Prices Are a Mess; Visa and MasterCard Are Not Helping
WayTooHigh.com - The Credit Card Interchange Report | June 26th 2008 by ScanMyPhotos.com - Mitch Goldstone
Because Visa and MasterCard, along with their thousands of member banks are playing a key role in our nation’s economic energy crisis, we will demonstrate in advance of the July 4th Independence Day holiday exactly why Visa and MasterCard are read more
FDIC Ads: Should We Be Worried?
Boom2Bust.com | June 24th 2008 by Christopher E. Hill
Leafing through the June 30 issue of Time magazine, I stumbled upon an advertisement from the Federal Deposit Insurance Corporation, or FDIC… For those readers not familiar with the FDIC, their mission, according to their website, is to preserve read more
Half Of Wall Street Bank Profits Up In Smoke
Boom2Bust.com | June 16th 2008 by Christopher E. Hill
What a difference a year makes. Louise Story of the New York Times wrote today: Only a year ago, Wall Street reveled in an era of superlatives: record deals, record profit, record pay. But a mere 12 months later, nearly half of the profits that maj read more
MasterCard to drop ‘illegal’ fees
WayTooHigh.com - The Credit Card Interchange Report | June 13th 2008 by ScanMyPhotos.com - Mitch Goldstone
MasterCard Inc., the giant credit card company based in Purchase, said this week it will drop 40-year-old transaction fees that European regulators have declared illegal. The European Commission said last December the company had to devise an alterna read more
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