Welcome to Banking Update, a roundup of articles and news from around the Internet. The Bank of America situation just keeps getting worse with another large fine for BofA, foreclosures are weighing down the balance sheets of banks, Nevada home prices just keep on dropping after a 63% delcine, home equity borrowings have collapsed, the […]
Banking Update – Daily Banking News
December 20, 2011 By Leave a Comment
Welcome to Banking Update, a roundup of articles and news from around the Internet. Let’s go right to the links. Business at pawn shops is booming. Bargains for buyers and easy credit for borrowers has resulted in pawn shops taking over the role of traditional banks and retailers for many consumers. The average loan amount […]
Banking Update – Daily Banking News
December 19, 2011 By Leave a Comment
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 […]
Banking Update – Daily Banking News
December 16, 2011 By 1 Comment
Welcome to Banking Update, a roundup of articles and news from around the Internet. Let’s go right to the links. The credit ratings of eight major banks were downgraded by Fitch. The eight global trading and universal banks (GTUB) that saw their credit ratings lowered were Bank of America, Morgan Stanley, Goldman Sachs, Barclays, Credit […]
Banking Update – Daily Banking News
December 15, 2011 By Leave a Comment
Welcome to Banking Update, a roundup of articles and news from around the Internet. Let’s go right to the links. Kyle Bass, one of the sharpest investment minds in the world, gives an interview on the worldwide debt crisis. Mr. Bass expects Japan, one of the most indebted nations in the world, to be forced […]
Banking Update – Daily Banking News
December 14, 2011 By Leave a Comment
Welcome to Banking Update, a roundup of articles and news from around the internet. News Highlights of the Day: The European banking and sovereign debt crisis continues to confound the ability of policy makers to contain the crisis and the risk of financial contagion to the U.S. banking system remains a serious concern. Did Fed […]
2011 Bank Failures Decline For First Time In Three Years
December 14, 2011 By Leave a Comment
For the first time in three years, the number of U.S. banking failures should total less than 100. Total bank closings for 2011 currently total 90. The FDIC has been giving their closing teams some time off, with the last bank closing occurring on November 18, 2011. Bank closings usually occur on Friday and unless […]
Banking Update – Daily Banking News
December 13, 2011 By Leave a Comment
Welcome to Banking Update, a roundup of articles and news from around the internet. The FDIC settles a civil lawsuit against Washington Mutual executives for a fraction of the $900 million originally sought. Virtually none of the settlement money came from the three WAMU executives but rather from insurance policies covering professional misconduct. The three […]
Net Worth of American Households Plunges By $2.4 Trillion In Third Quarter
December 9, 2011 By Leave a Comment
Those looking for a rebound in either real estate prices or the wealth of the American consumer were sorely disappointed after the release of the Federal Reserve’s Flow of Funds Accounts for the third quarter 2011. The net worth of Americans plunged by $2.4 trillion in the third quarter. Keep in mind that the entire […]
Fannie and Freddie Executives Pay Themselves $48 Million For Sterling Performance and Then Ask Taxpayers For $13.8 Billion Bailout
November 10, 2011 By Leave a Comment
What we all wouldn’t give to be an executive at bankrupt housing agencies Fannie Mae or Freddie Mac? According to a report released by the Inspector General of the FHFA, a total of $47.8 million was paid to the top ten executives of Fannie Mae and Freddie Mac since they were placed into receivership. The […]