Banking Update – Daily Banking News

Welcome to Banking Update, a roundup of articles and news from around the Internet. Let’s go right to the links.

Runs on the bank are intensifying in Europe – fragile confidence in the banking system is being shattered.  Banking holidays and capital controls may be necessary which would fuel the panic further.

Chinese homeowners go ballistic and turn to violence as property values plunge.  Governments are powerless to hold back market forces and the collapse of debt fueled bubbles.

Credit downgrades of banks and sovereign nations flood across Europe – rating agency says a solution is “beyond reach”.

Federal Reserve has the “legal authority” to bail out Europe.

Trillions of dollars in bailouts have done nothing to reduce the danger of a systemic collapse.

The aftermath of financial crises can vary greatly depending on policy responses.

Deputy Assistant Treasury Secretary Mark Sobel discusses the impact that the European debt crisis will have on the U.S. economy and banking system. Global financial markets are deeply interconnected and the weakness in the European banking system will put a chill on U.S. lending.

State run Bank of North Dakota generates $555 million in profits for the state of North Dakota.  Are state run banks the answer to private banking or is it socialism?

That’s it for today – have a great day!




Speak Your Mind