With the banking industry still in fragile condition, it is not surprising that the government has been making secret plans to deal with an economic collapse. It is a chilling thought to realize that five years since the world economy faced total collapse, we are still perched on the financial abyss. In an exclusive report, […]
Secret Government Plans For Economic Collapse Revealed – Five Years Later Still At The Abyss
August 14, 2012 By Leave a Comment
Group Think On Housing Recovery May Be Premature
August 14, 2012 By 1 Comment
Almost daily the mainstream news media is proclaiming that the housing crisis is over. A recent Wall Street Journal front page article boldly proclaimed “The Housing Bust Is Over.” No less an authority than Warren Buffett has suggested that housing has become a compelling investment opportunity. Tops and bottoms in any market are not usually […]
Banks Were The Worst Place To Keep Your Savings This Year
August 3, 2012 By Leave a Comment
Federal Reserve Chairman Ben Bernanke warned us repeatedly that he would repress interest rates indefinitely in order to help the economy and the housing market. Interest rates on government treasury securities have reached all time lows and bank depositors are receiving close to a zero return on their savings. Meanwhile, both housing and the economy […]
Why Banks Will Continue To Blow Up
July 30, 2012 By Leave a Comment
Although there were a multitude of factors involved in the banking collapse of 2008, many analysts believe that the repeal of Glass-Steagall was one of the major triggers. No less an authority than Sandy Weill, former Citigroup CEO, joined the chorus of voices last week in calling for the reinstatement of the Glass-Steagall Act. Would […]
Non Stop Banking Scandals Are Dangerously Eroding Public Trust In The Financial System
July 17, 2012 By Leave a Comment
I am old enough to remember when most people considered banks to be rock solid bastions of financial strength and integrity. That was then, this is now, and a long running, non stop series of banking scandals seems to be dangerously eroding public confidence in the entire financial system. In recent weeks we have seen […]
Regulators Maintain Perfect Record Of Incompetence – Massive Fraud At Peregrine Financial Goes Undetected
July 13, 2012 By Leave a Comment
What is the point of having numerous regulatory agencies if they can’t detect blatant fraud despite numerous red flag warnings? Banking regulators turned a blind eye to absurdly reckless lending policies until the entire financial system came close to collapse in 2008. Regulators managed to convince themselves that Bernard Madoff’s $50 billion Ponzi scheme was […]
Barclays Libor Scandal Expands – Why British Taxpayers Will Pay In The End
July 4, 2012 By Leave a Comment
The Barclays Libor scandal continues to escalate after revelations that senior officials at the Bank of England pressured Barclays to artificially lower the Libor rate. Documents released by Barclays suggest that U.K. treasury officials pressured Barclays to lower the Libor rate. This latest development threatens to turn the Libor rate fixing scandal into a showdown […]
Credit Ratings of 15 Global Banks Cut In Largest Downgrades Since 2007
June 22, 2012 By Leave a Comment
In the most sweeping credit downgrades since 2007, Moody’s Investor Service lowered the credit ratings of fifteen global banks, including the five largest banks in the United States. The scope of the credit downgrades left many wondering if we are entering a new phase of the global financial meltdown that started in 2008. Despite trillions […]
Three Banks Fail In Tennessee, Georgia and Florida – Total 2012 Bank Failures At 31
June 16, 2012 By Leave a Comment
Regulators closed three banks in three different states, as loan losses continue to plague the banking industry. Efforts by small banks to raise additional capital have become increasing difficult due to low loan demand, a slowing economy and investor antipathy towards banking stocks. The latest three banking failures in Tennessee, Georgia and Florida bring total […]
Security Exchange Bank, Marietta, GA, Fails After Loan Defaults Soar
June 16, 2012 By Leave a Comment
Security Exchange Bank, Marietta, GA, a locally owned community bank headquartered in Marietta, GA, was closed today by the Georgia Department of Banking and Finance. The FDIC, acting as receiver, sold the failed Bank to Fidelity Bank, Atlanta, GA. Both branches of the failed Bank will reopen on Monday as branches of Fidelity Bank and […]