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Banking System in North Atlantic Region Probably Insolvent
Tuesday, October 7, 2008
Willem Buiter: Banking System in North Atlantic Probably Insolvent
Willem Buiter has a penchant for ruffling feathers with his blunt pronouncements. He caused a firestorm at the Fed's recent Jackson Hole conference by, in his presentation, telling the central bank that it was a victim of "cognitive regulatory capture" and was ( Read more... ) -
Bank Limits Fund Access, Inciting Fears
The New York Times
October 2, 2008
Bank Limits Fund Access by Colleges, Inciting Fears
By SAM DILLON and KATIE ZEZIMA
In a move suggesting how the credit crisis could disrupt American higher education, Wachovia Bank has limited the access of nearly 1,000 colleges to $9.3 billion the bank has held for them in a short-term investment fund, raising ( Read more... ) -
Japanese Banks Halt Lending as Bounced Checks Rise to Record
By Finbarr Flynn
Aug. 19 (Bloomberg) -- Japanese banks halted transactions with 12 percent more companies in July than a year earlier, the biggest increase since May 2007, as the firms issued checks that bounced. The number of companies in the Tokyo area cut off by banks rose to a two-year high.
The banks stopped doing business with 475 companies, ( Read more... ) -
Attack of the Global Pirate Bankers
Related
Is this just the start of Banking problems?
British study links IMF loans to tuberculosis
By James S. Henry
July 22, 2008
Research support for this piece was provided by The Nation Institute.
For what is the crime of burglarizing a bank, compared with the crime of building one? --Bertolt Brecht
The Hearing: Last week in Washington we got a rare ( Read more... ) -
Rising tide of bad debts will flood over banks
Related
Are "Dark Pools" Destined to be the Capital Markets' Next Black Hole?
By Damian Reece
Last Updated: 12:34am BST 11/07/2008
So far we have escaped a US-style sub-prime meltdown. We may never see anything so bad, but it's going to be a close call. House prices are falling at a faster rate than the late 1980s-early 1990s slump. House prices ( Read more... ) -
Money being pulled out of NYC banks: High demand for wire transfers
June 24, 2008
Excerpt
‘[Our] United Nations sources report that there has been a sudden rush in requests for foreign exchange wire transfer requests from the New York City banks’.'The sudden demand for transferring funds abroad has resulted in a 24-hour to 48-hour processing delay due to the sheer volume of requests’.
‘Foreign employees at the United ( Read more... ) -
Senate will bail out mortgages, even though 35% will default
FreedomWorks
June 16, 2008
CBO Scoring Shows Dodd-Frank Bill Rescues Banks, Not Borrowers
Congressional Budget Office Estimates 35 percent of Dodd-Frank bailout loans will still default.
Contact: Adam Brandon
Phone: (202) 942-7698
Email: abrandon@freedomworks.org
Washington, D.C. - The Congressional Budget Office (CBO) released its scoring of the Dodd ( Read more... ) -
Banks Say Auction-Rate Investors Can't Have Money
Related
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Iran pulls assets out of Europe banks
Banks Say Auction-Rate Investors Can't Have Money (Update1)
By Darrell Preston
June 6 (Bloomberg) -- Franklin Biddar wants his money, and says Bank of America Corp. won't let him have it.
The 65-year-old ( Read more... ) -
THE SECRET BAILOUT OF JP MORGAN: HOW INSIDER TRADING LOOTED BEAR STEARNS AND THE AMERICAN TAXPAYER
Ellen Brown
May 13, 2008
The mother of all insider trades was pulled off in 1815, when London financier Nathan Rothschild led British investors to believe that the Duke of Wellington had lost to Napoleon at the Battle of Waterloo. In a matter of hours, British government bond prices plummeted. Rothschild, who had advance information, then swiftly ( Read more... )