Top Economist: Americans Should Worry About Bank Deposits if Congress Doesn't Act

Posted Sep 15, 2008 12:58pm EDT by Aaron Task in Investing, Recession, Banking
Related: LEH, MER, BAC, AIG, WM, ^DJI, ^GSPC

Updated from 12:58 p.m. EDT

With the "financial storm of the century" hitting financial institutions, many Americans are worried about the safety ( Read more... )

by: Vernon Hill posted on: September 12, 2008

When FDIC head Shelia Bair says her agency might have to bolster the FDIC's insurance fund with Treasury borrowings to pay for the new spate of bank failures, a lot of us, this 40-year banking veteran included, assumed there's an actual FDIC fund in need of bolstering.

We were wrong. As a former FDIC ( Read more... )

Related 
Analyst: FDIC Will Need Half A Trillon Dollars
 


( Read more... )

U.S. regulators seize two more banks, engineer sale

By John PoirierSat Jul 26, 12:08 AM ET

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.

Two weeks after the Federal Deposit Insurance Corp seized ( Read more... )

FDIC Chairman Shelia Bair Is Out Of Control

In a sad twist of irony Shelia Bair is accusing blogs of being "out of control".

***

"The FDIC also plans to begin airing public service announcements as part of a public education campaign on the nation's deposit insurance program."

***

There will be no mention of points 24 and 25 of You Know The ( Read more... )

FDIC Faces Mortgage Mess
After Running Failed Bank
Subprime Lender
Made Problem Loans
On Regulators' Watch

By MARK MAREMONT
July 21, 2008; Page A1

Federal officials heap much of the blame for the subprime mortgage mess on lenders, claiming they recklessly made too many high-cost home loans to borrowers who couldn't afford them.
[Loan Troubles]

It turns out ( Read more... )

Who's Next? List of Troubled Banks Worries Wall Street, DC
ABC News Has Obtained Privately-Prepared Lists of Most Troubled Banks
By BRIAN ROSS, RHONDA SCHWARTZ, and JUSTIN ROOD
July 15, 2008-

Banks in Colorado, Maryland, Georgia and California top privately-prepared lists of troubled banks being circulated on Wall Street and in Washington ( Read more... )

Related
FDIC Bank Closing Information for IndyMac Bank, F.S.B., Pasadena, CA
Run on IndyMac turns tense in Encino
Police show up at Encino IndyMac branch as waiting customers clash
Customers furious in Day 2 of IndyMac fed takeover
Fitch downgrades IndyMac's servicer ratings
IndyMac, Anchor Bancorp Lead Decline in Banks; Basic Energy Climbs
IndyMac ( Read more... )

Related
Citigroup's $1.1 Trillion of Mystery Assets Shadows Accounting of Earnings
European Industrial Output Drops Most in 16 Years, Led by France, Germany
Wall Street Turns Predatory Lender in Reconstruction of Subprime Meltdown
FDIC Says At Least 90 US Banking institutions In Trouble

(Update3)

By Carol Massar and Eric ( Read more... )