The Federal Reserve Printing Press (Wish I Had One)
The Joy of Sachs by Paul Krugman - The New York Times/Common Dreams The American economy remains in dire straits, with one worker in six unemployed or underemployed. Yet Goldman Sachs just reported record quarterly profits — and it’s preparing to hand out huge bonuses, comparable to what it was paying before the crisis. What does this contrast tell us? First, it tells us that Goldman is very good at what it does. Unfortunately, what it does is bad for America. [more...]
Date: 2009-07-18 04:28:00
Blog posts
(86)
|
Videos
(27)
Do Post-Bailout Banks Need New Rules?
(Photo: Karen Bleier/Agence France-Presse — Getty Images)The Treasury Department on Tuesday allowed 10 banks to start repaying TARP funds.Updated, June 9, 5:40 p.m. | William K. Black, a former senior official with the Federal Home Loan Bank Board and the Office of Thrift Supervision, explains why the Treasury decision favors the big banks at the taxpayers’ expense. Updated, June 9, 4:45 p.m. | Charles R. Morris, author of “The Trillion-Dollar Meltdown,” has joined our discussion. [more...]
Date: 2009-06-09 17:35:05
Bad Commercial Real Estate Loans Are Coming in Hot! And They're Right on Schedule
It's summertime and the living is easy, but if you're a distressed debt broker, this is no time to be mixing Cuba Libres at the beach. There have been 72 bank failures in the first eight months of 2009, compared with 26 in all of 2008 and just 3 in 2007. So it should be no surprise that distressed debt offerings are taking off like a teenager after a paternity test, and distressed debt traders are definitely going to have their day in the sun, whether it be by hook or by crook. [more...]
Date: 2009-08-12 07:05:00
P2P Finance Landscape
A sad statement about the priority of the regulatory agencies and their targeting of the few open markets that allows people to lend to people without needing a bank is apparent by the list of P2P vendors actually open and doing business: Lending Club – Made it through the regulatory hoops and is now conducting business by connecting worthy borrowers with lenders. All while Citibank, Bank of America, and Chase are reducing credit lines or even closing credit card accounts. [more...]
Date: 2009-07-05 18:25:20
Guest Post: We Can’t Break Up the Giant Banks, Can We? Yes We Can!
By George Washington of Washington’s Blog . Top economists and financial experts believe that the economy cannot recover unless the big, insolvent banks are broken up in an orderly fashion . Even the Bank of International Settlements - the “Central Banks’ Central Bank” - has slammed too big to fail. As summarized by the Financial Times: The report was particularly scathing in its assessment of governments’ attempts to clean up their banks. [more...]
Date: 2009-09-14 04:53:05
We Can’t Break Up the Giant Banks, Can We? Yes We Can!
George Washington Blog Monday, September 14, 2009 Top economists and financial experts believe that the economy cannot recover unless the big, insolvent banks are broken up in an orderly fashion . Even the Bank of International Settlements – the “Central Banks’ Central Bank” – has slammed too big to fail. As summarized by the Financial Times: The report was particularly scathing in its assessment of governments’ attempts to clean up their banks. [more...]
Date: 2009-09-14 11:39:46
Banks May Reach Point of No Return as Toxic Loans Exceed 5% of Holdings
Toxic Loans Topping 5% May Push 150 Banks to Point of No Return By Ari Levy Aug. 14 (Bloomberg) — More than 150 publicly traded U.S. lenders own nonperforming loans that equal 5 percent or more of their holdings, a level that former regulators say can wipe out a bank’s equity and threaten its survival. The number of banks exceeding the threshold more than doubled in the year through June, according to data compiled by Bloomberg, as real estate and credit-card defaults surged. [more...]
Date: 2009-08-14 12:40:19
Congress this week July 20-25, 2009
There is an ACORN Report out calling for an investigation into the corrupt business of Acorn. Read Report here: http://republicans.oversight.house.gov/media/pdfs/20090723ACORNReport.pdf There are a few things Congress is working on that are highlighted in Red. Please also review the Energy and Climate and parks and such. Please review the entire bill, some of these fall under the Acorn Umbrella of non-profits, We must not allow Acorn to get one more dollar for that matter to return all [more...]
Date: 2009-07-26 07:09:16
We Can’t Break Up the Giant Banks, Can We? Yes We Can!
Washington’s Blog strives to provide real-time, well-researched and actionable information. George – the head writer at Washington’s Blog – is a busy professional and a former adjunct professor. ~~~ Top economists and financial experts believe that the economy cannot recover unless the big, insolvent banks are broken up in an orderly fashion . Even the Bank of International Settlements – the “Central Banks’ Central Bank” – has slammed too big to fail. [more...]
Date: 2009-09-15 14:15:44
Obama’s (Latest) Surrender to Wall Street
Michael HudsonCounterpunch22nd June, 2009In reaching across the aisle for Republican support – and no doubt future campaign contributions from the financial sector Pres. Obama is morphing into Joe Lieberman. There also is a touch of Boris Yeltsin in his sponsorship of a financial “reform” ominously similar to what advisor Larry Summers backed in Russia – relinquishing government power to a banking elite. [more...]
Date: 2009-06-22 20:42:40
Democracy Now! Broadcast Studio Targeting LEED-CI Platinum at 207 West 25th Street
Democracy Now! is an independent daily TV/radio news program hosted by journalists Amy Goodman and Juan Gonzalez. The nationally-broadcast program is currently building a new studio at 207 West 25th Street that is aiming for LEED Platinum certification under USGBC's Commercial Interiors rating system. The 8500-square-foot space was initially slated for only LEED Silver, but is now on track for Platinum in the range of 43 to 49 total credits, with particular emphasis on recycled-content and reused materials. [more...]
Date: 2009-07-07 01:59:29
Business & Technology
PROFNET EXPERT ALERTS: Business & Technology 1. Business: New Breed of Corporate Bankruptcy 2. Business: Significant Risks in Government Contracting 3. Finance: First the Banks, Now Bankers’ Banks Worrying Fed 4. Finance: One-Year Anniversary of Market Collapse 5. Finance: Securitization is Used to Repair, Rather than Manufacture 6. Insurance: Insurance Battles Follow Wildfires, Other Natural Disasters 1. BUSINESS: NEW BREED OF CORPORATE BANKRUPTCY. [more...]
Date: 2009-09-08 20:23:10
Arms Control Amnesia
The new talks with Moscow could put the U.S. nuclear deterrent in jeopardy. Here are the facts. Three hours after arriving at the Kremlin yesterday, President Barack Obama signed a preliminary agreement on a new nuclear arms-control treaty with Russian President Dmitry Medvedev. The agreement — a clear road map for a new Strategic Arms Reduction Treaty (START) — commits the U.S. and Russia to cut their nuclear weapons to the lowest levels since the early years of the Cold War. [more...]
Date: 2009-07-12 23:19:34
Reader Mailbag #67
Each Monday, The Simple Dollar opens up the reader mailbags and answers ten to twenty simple questions offered up by the readers on personal finance topics and many other things. Got a question? Ask it in the comments. You might also enjoy the archive of earlier reader mailbags . What is the thought process you go through when organizing an article to write? Do you outline your thoughts first? Often when I try to write something, it ends up fairly chaotic. [more...]
Date: 2009-06-15 14:00:04
The Garrett, Watts Report (July 17, 2009)
To Our Clients, Colleagues and Friends, Someone asked us why he couldn’t buy a small bank that was failing and then just offer really high rates to bring in all the funds he needed. This won’t work on many levels, but the main one is this: If you’re not well-capitalized (and there’s a formula for it) you can’t pay rates that are more than 75 bps above the national average. Case closed. [more...]
Date: 2009-07-17 15:03:46
ScamBuster 268
I am Mr.patrick chan,Director of the Hang Seng Bank Ltd, hong kong. An iraqi man made a fixed deposit of (30,millionUSD) and he died with his entire family leaving behind no next of kin, am ready to share 60/40 with you if you choose to stand as my deceased client next of kin.if you are interested please notify to send to me this information. 1. YOUR NAME: 2. YOUR RESIDENT ADDRESS: 3. YOUR OCCUPATION: 4. YOUR PHONE NUMBER: 5. DATE OF BIRTH: 6. [more...]
Date: 2009-09-10 08:10:54
By “Shopping” for Regulators, Private Equity Firms Have Discovered How to Buy Banks
By “Shopping” for Regulators, Private Equity Firms Have Discovered How to Buy Banks – Leaving Taxpayers With All the Risk Courtesy of Shah Gilani Contributing Editor, Money Morning The financial Barbarians are at the gates of the U.S. banking sector. “Regulatory arbitrage” – sometimes called “regulatory shopping” – has emerged as the favorite strategy for these Barbarians, otherwise known as private equity firms, to get around the federal rules that kept them from owning banks. [more...]
Date: 2009-06-10 22:10:17
Recent Tweets from the BARN
National Ag News for July 14, 2009Sponsored by the American Farm Bureau Federation“Pork-Beef Exports Mixed Bag” A U.S. Meat Export Federation analysis of USDA statistics indicates that May was not as bad a month for U.S. pork exports as it might have been. May was the first month the H1N1 influenza would have impacted sales of pork and pork products. May pork plus pork variety meat exports totaled 143,682 metric tons valued at 342.6 million dollars. [more...]
Date: 2009-07-14 11:45:51
Posts about Foreclosures as of August 20, 2009
Coping after foreclosure – northloop.14gram.com 08/20/2009 The Thomsons thought they’d never recover after losing their home, but life is improving. They – and 3 other couples – tell their post-foreclosure stories. Almost Everyday! – homeshowga.com 08/20/2009 I get this question almost everyday “How’s the market?”. I think the question really is “Are we going to be OK?”. I have to answer it the same way every time. YES, we are going to be OK. [more...]
Date: 2009-08-20 12:04:51
2009 Red Lion Scholarship Winners
NWAACC ANNOUNCES RED LION SCHOLARSHIP WINNERS Female Red Lion Scholarship Award Camilla Medlock, Pierce Cami played volleyball for Pierce College in 2007 and 2008, During her time there, she earned a 3.96 GPA. She has earned a NWAACC Academic Leadership Award. When done at Pierce, Medlock intends to attend the University of Washington at Tacoma and enter the Interdisciplinary and Arts and Sciences program. She plans to finish with a four degree in anthropology. [more...]
Date: 2009-06-09 07:21:52
Fast-Rising Values Created Opportunities For Mischief
The Kalamazoo Gazette reports from Michigan. “No matter the motivation, many homeowners are finding that despite reasonable interest rates, ... and down payments of less than 20 percent, experts say.” “‘Anybody who got a low-down-payment loan ... and unable to pay on loans for huge projects.” “Banks admitted they didn’t know how bad [more...]
Date: 2008-07-14 15:31:23
Automakers Say They Need Funding Now...
.........But First, A Word From Our Sponsor.......... Now in Print: What You Need to Know About America's Economic Crisis On election night, Amazon.com's top-selling book wasn't about Obama or even McCain. Instead, it was a book about the four American deficits that threaten to steal your wealth-and the steps you can take to reverse them [more...]
Date: 2008-12-03 14:54:31
Weekly Wrap: Law Enforcement Jobs, Medicare & The Birthers
Good: New state and federal programs were announced to increase funding for law enforcement. Missouri law enforcement agencies will receive "more than $19,697,636 in federal grants to fund the hiring and rehiring of 118 law enforcement officers in Missouri." Kansas City won $8.4 million in federal grant money Tuesday, saving the jobs of 28 police recruits and allowing the department to hire up to 22 more officers. The cash-strapped city St. [more...]
Date: 2009-07-31 19:17:36
enter the giveaway. You have a great chance of winning and entering is easy! (c) 2007-2008, That One Caveman, http://www.thatonecaveman ... Your Local Library Is a Valuable Resource One Week Without Cable - The Good and the Bad Early Thanksgiving ... to let little receipts build up into a huge problem. I just looked at our credit card [more...]
Date: 2008-12-01 13:30:35
Failure of the American Auto Industry
Unfortunately, we cannot give proper credit to the author of this because we don’t know who wrote it ... , Ford is in the best financial condition, but even that is pretty bad. Ford has built ... to have a canoe race on the Missouri River. Both teams practiced long and hard to reach their peak performance [more...]
Date: 2008-12-17 15:21:46
GUEST CONTRIBUTION - William Greider: Dismantle the Fed
The calls for shutting down the Federal Reserve are rapidly growing into a chorus. William Greider , author of undeniably the best book about the Fed, " Secrets of the Temple - How the Federal Reserve Runs the Country " chimes in these days too. His book was my first milestone on the never ending road of understanding monetary policy and to learn about the greater realities in life. [more...]
Date: 2009-07-20 01:34:00
Jingle Mail Revisted: Possible Bank Recourse And Borrower Consequences
There’s been heavy talk recently around “walking away from foreclosures” and the devastating effect it’s having on banks and homeowners ... sale: Call your lender to find out whether or not this is an option for you. Loan modification: A loan ... one inline with your budget Loan extension This option allows the bank to place your payments on hold [more...]
Date: 2008-10-17 04:51:35
January 6 - Microsoft Mum? - Logitech Trims 525 - No Apple for 3000 LA Teachers? - Wind Blows Cold for 20% at DMI - 350 Gone at R.L. Stowe - IRS Files Away 711 - Brunswick Sinks 275 - Alcoa Cans 15,200!
Mike: States throughout the country are facing difficult financial times. Some states are running low on operating funds, such as CA ( ... : Missouri’s unemployment fund is broke and needs to be replenished: * JEFFERSON CITY | Missouri ... Director Todd Smith said Monday that Missouri may have to borrow about $40 million from the federal [more...]
Date: 2009-01-06 13:18:38
Thanks to Matt Blunt, Missouri Doesn’t Need a Bailout
Ohio wants a bailout. So does Michigan, Kentucky, New York, Delaware and South Dakota. According to another article, “California seeks massive loan from US Treasury to deal with financial crisis.” Perhaps if they had spent as much time studying the fiscal restraint of Missouri’ [more...]
Date: 2008-12-09 23:49:45
Clackamas Track & Field alum shine at next level
Six Clackamas alums enjoyed strong seasons in track & field and were recognized at the national level in 2009. Becky Holliday placed 11th at the US National Track and Field Championships with a pole vault of 13’9.25”. Her recent vault of 14-11.5 on July 15 is her personal best and is fourth best in the 2009 USATF women’s rankings. Holliday holds records at the University of Oregon for the indoor and outdoor pole vault, national junior colleges and former NCAA Championships record holder. [more...]
Date: 2009-08-05 18:08:54
First Time Home Buyer Program Ripe for Abuse
When U.S. Housing and Urban Development Secretary Shaun Donovan announced last week that first-time homebuyers soon will be permitted to turn their $8,000 tax credit for purchasing a property into downpayment money, he called the development “exciting” and “a real win for everyone.” But his enthusiasm isn’t universal. [more...]
Date: 2009-05-21 17:00:26
Credit Crisis Timeline
This is lifted from American Thinker, and by the way to the editor if you'd prefer I not take so much of the text leave comment or email me, ... to my article Why banks aren't the bad guysThe Growing Government Hand1933-1938President Franklin ... backed by the Federal government.1970President Nixon chartered Freddie Mac, the Federal Home Loan [more...]
Date: 2009-01-02 12:09:00
Tough budget times: 50 states, 50 holes
... Images) If it’s any consolation to Jay Nixon, Missouri’s governor-elect, that $342 million ... by income and sales taxes). Missouri’s gap is “only” 4.1 percent of its general fund. Illinois [more...]
Date: 2008-12-05 21:29:32
Interesting articles you might have missed during the week
The pace of change for the world has accelerated. Perhaps a glance at these stories can help keep your Orientation current! “Farm-Credit Squeeze May Cut Crops, Spur Food Crisis“, Bloomberg, 27 October 2008 “Ryan Says ... will be remembered like Herbert Hoover.” Excerpts “Farm-Credit Squeeze May Cut Crops, Spur Food Crisis“, Bloomberg [more...]
Date: 2008-11-01 12:00:27
AIG CEO Demands Apology from Mad Money’s Jim Cramer
WSJ Deal Journal Related: The credit crunch means that consolidation looms for Mirant and Calpine as well. Bloomberg ... its banks. WSJ More bad news: Banking bosses weigh in on bonuses and job losses. Times ... is wreaking havoc on a large but little-known corner of the credit markets, which could mean more write-downs [more...]
Date: 2008-10-20 12:57:00
Great offer 17500 dollar at a effective rate of 6.3 percent
That’s the reason why now you really need to look into and run across if you can have a money loan at a proficient percent interest rate. 4 ... you have to reinforce your loan. A lot of the moneylenders wil show you a loan rate that looks bonny but feels bad ... completely different actual interest rate for a 35000 dollar credit loan then a merchant bank [more...]
Date: 2008-12-30 23:16:27
Questioning Obama, McCain & Bush on the Economic Crisis
the vice presidential debate. Organizers of this debate wanted a primary focus on domestic policy, especially economic issues and for the most part that held although Sen. McCain (R-AZ), in attempts to show his expertise in international affairs chose specific moments to poke at Sen. Obama's inexperience in that area [more...]
Date: 2008-10-14 14:00:23
Do you want to go out and get a kitchen and need money
A bank in Lynchburg Virginia or so may have a total different actual rate of interest for a 17500 dollar deferred payment then a moneylender in ... or if you don’t with the bank that offers you a credit loan. ... of of the merchant banks wil show you a interest rate that looks mediocre but feels bad or so after a period [more...]
Date: 2008-12-02 20:41:43
Obama’s Favoritism
Wall Street, Not the Auto Industry By MICHAEL HUDSON Counterpunch 12/08/08 There is a strange double standard in President-elect Obama’s largesse with the public purse when it comes to Wall Street’s banks and insurance companies as compared to his more exacting stance toward bailing out the U.S. auto industry [more...]
Date: 2008-12-09 02:44:05
Posts about Tri-State Real Estate (FL, GA and AL) as of January 16, 2009
Foreclosures And The Mortgage Meltdown Continues to Plague America - usreoproperties ... either being foreclosed upon or delinquent. The nation … package aiming to thaw the frozen credit ... 01/16/2009 Toyota is developing a miniature, environmentally friendly car that is powered entirely [more...]
Date: 2009-01-16 14:21:19
Thoughts for a Monday Morning
Smoke billows from the Gaza Strip following an Israeli air strike on Monday.Remember Gaza - One of History's Terror Bombing VictimsHistory's terror bombings. This article reviews some of the most infamous:-- Guernica - 1937;-- the London Blitz - 1940 - 41;-- Dresden - 1945;-- Tokyo - 1945;-- Hiroshima and Nagasaki - 1945;-- North Korea - 1950 - 53; [more...]
Date: 2009-01-12 12:40:00
Did McCain Learn From the S&L Crisis?
Sen. John McCain (WDCpix) PHOENIX—In April 1987, William Black watched five U.S. senators, including Sen ... on behalf of Charles H. Keating Jr., a Phoenix businessman who owned Lincoln Savings & Loan. At the time, Black was deputy director of the Federal Home Loan Bank Board, which oversees the nation [more...]
Date: 2008-09-29 21:08:31
Did Bush/McCain-like policies or Obama-like policies get us into this Mortgage Mess. Two great announcements for tonight!!!
But First Two Announcements for tonight Colorado Register for internet and/or telephone event with audio update of Colorado Personhood Amendment at http://www.coloradoforequalrights.com/node/28. This is a ballot initiative largely ignored in Big Media that would amend the constitution of Colorado to define a person from conception [more...]
Date: 2008-10-14 07:01:00
The Consequences Of Devil-May-Care Lending
The Des Moines Register reports from Iowa. “Deb Baker believes she’s one of about 31, ... her ability to refinance her unaffordable loan or to sell her home. ‘You hate to lose what you put ... a fair number’ of the inflated appraisals that accompanied the subprime-loan boom now causing [more...]
Date: 2008-12-08 15:54:59
Community Banks Still Providing Top Interest Rates
Back in early September (before the really bad economic news started rolling in) ... to increased loan underwriting standards, making it more difficult to borrow money at the big banks, most of whom are stuck with bad balance sheets from bad loans. Also, the personal finance blogosphere [more...]
Date: 2008-12-27 17:29:43
Gates of Vienna News Feed 9/24/2008
USA5th Grader Suspended for Anti-Obama ShirtBush Calls Bailout Vital to Economy, Will Meet With McCain and ObamaHomeland Security Detects Terrorist Threats by Reading Your MindObama Worked Closely With Terrorist Bill AyersOnline Critics Take Aim at $700 Billion Financial Bailout ProposalSeptember 11 Suspect Grills U.S [more...]
Date: 2008-09-25 00:42:00
Special offer 35000 dollar at a solid interest rate of 15.7 percent
You should be lustrous today to investigate if you have a nice bargain or if you don’t with the bank that offers you a money loan. 9 ... loan then a moneylender in Cape Girardeau Missouri and that makes a huge clear gap in your weekly costs ... up on and ascertain if you can have a credit loan at a dependable percent loan rate. [more...]
Date: 2009-01-09 00:11:18
Add Your Comment:
« PreviousHarry Reid: Trigger Happy Next »Barack Obama, Olympic (Committee) Bound Latest Lie: "Death Panels By Proxy" Posted by Karen TumultySunday, September 27, 2009 at 12:17 pm 56 Comments • Trackback (0) • Related Topics:Max Baucus, congress, health care, senate, death panels, death panels by proxy, fear-mongering, medicare There they go again. [more...]
Date: 2009-09-27 16:17:24
After the fall: The economic meltdown one year on.
Unhappy Anniversary: It may seem like 10 years ago, but it was only last Sept 25 that President George W. Bush summoned presidential candidates John McCain, left, and Barack Obama, right, along with Congressional leaders, to discuss the financial meltdown. (AFP Photo)One year ago, on the weekend of Sept. [more...]
Date: 2009-09-12 02:00:32
Gay Marriage
I wrote this originally in 2004, upon the passage of an antigay measure in Missouri. With the passage of Prop 8 in California, I thought it would be worth reposting here. You may have heard. Missouri has become the first state in the union to establish a constitutional amendment [more...]
Date: 2008-11-11 14:54:51
