June 22, 2010 – The FDIC Board of Directors extended the Transaction Account Guarantee (TAG) program six months beyond its original expiration to December 31, 2010. In addition, the Board approved for an additional extension, if deemed necessary, to December 31, 2011. The TAG program was initiated in October 2008 as part of the Temporary […]
FDIC Chairman’s Explanation For Housing Bubble And Bust Leaves Big Question Unanswered
June 21, 2010 By 1 Comment
Housing Bubble and Crash Explained – The Common Sense Explanation Thousands of articles have been written explaining how the bubble in housing developed and why it subsequently came crashing down, causing the collapse of some of the biggest financial institutions in the United States. Perhaps most of us are simply worn down or confused by […]
Banking Regulators Say Banks Encouraged “Imprudent Risks” With Flawed Pay Incentives
June 21, 2010 By Leave a Comment
Regulators Tell Bankers That Pay Should Be “Risk Adjusted” June 21, 2010 – The nation’s top banking regulators today moved to curb flawed incentive compensation plans that encouraged banking employees to take imprudent risks. Citing pay practices that contributed to the recent financial crisis, regulators issued financial institutions final guidance to ensure that incentive compensation […]
FDIC Chairman Questions Government’s Obsession With Promoting Home Ownership
June 9, 2010 By 1 Comment
June 7, 2010 – In a speech given today, FDIC Chairman Sheila Bair questioned the wisdom of government policies that over-subsidize home ownership while devoting insufficient attention to the need for affordable rental housing. The Chairman noted that expansive public and private efforts to push homeownership to a record level of 69% ultimately proved to […]
Georgia And Florida Now Account For One Third Of 2010 Bank Failures
March 27, 2010 By Leave a Comment
Four More Banks Fail In Georgia, Florida and Arizona – 2010 Total Now 41 The four failed banks for March 26, 2010 had total assets of $1.2 billion and total deposits of $1.1 billion. The cost to the FDIC Deposit Insurance Fund (DIF) for these latest banking failures is estimated at $320 million. The cost […]
7 Banks Collapse – Stunning 42% Loss On Failed Bank Assets For FDIC
March 20, 2010 By Leave a Comment
2010 Banking Failures Increase To 37 As Seven More Banks Fail March 19 – The banking crisis continues as regulators closed seven failed banks, the largest number of lenders to collapse in one week this year. The seven failed banks for March 19, 2010 had total assets of $3.3 billion and total deposits of […]
Government Taxes Prudent To Help Foolish With Mortgage Rescue Plans
March 7, 2010 By Leave a Comment
Banking Links – March 8, 2010 Volcker Says – Keep Rates Low And Spending High – Bloomberg Local Governments Seek To Renege On Bank Interest Rate Swaps – BI Hard Times To Follow Reckless Fed Policies And Easy Bank Lending – Telegraph Banks Facing Huge Losses On Mortgage Buybacks – Bloomberg The EURO Will Survive […]
Why The Bad News On Housing Is Good News
February 28, 2010 By Leave a Comment
Banking Links – March 1, 2010 Buffett On Housing – Why The Bad News Is Good News -Forbes Buffett – Failed Bankers Still Live In Grand Style – TOL The Abrupt Collapse of Empires – LAT Many Banks Still On The Critical List – NYT Bank of America’s $30 Million Dollar Man – Bloomberg Banks […]
Latest Banking Failures – Rainier Pacific Bank, Carson River Community Bank
February 27, 2010 By Leave a Comment
Banking Failures in Nevada and Washington Bring 2010 Total To 22 The weekly banking failures continue as regulators closed two more failed banks in Nevada and Washington. The two failed banks had total assets of $769 million and total deposits of $496 million. The cost to the FDIC Deposit Insurance Fund (DIF) for this […]
No Easy Way Out As Bank Lending Stalls
February 25, 2010 By Leave a Comment
Banking Links – February 25, 2010 Banks, Like Everyone Else, Face Massive Tax Hikes – Bloomberg ‘Nascent’ Recovery Requires Low Rates – Bloomberg Banks Bet On Greece Default – NYT Credit Card Borrowing Becomes Road To Impoverishment – NYT Bernanke Seeks To Preserve Fed’s Powers – WP Citigroup To Sell Hedge Fund Business – WSJ […]