Just when it appears that the banking system is beginning to stabilize, a new ominous threat to financial stability has become a serious concern among the nation’s top bankers. In a speech at a Berlin conference, Dennis Lockhart, President of the Federal Reserve Bank of Atlanta, talked about the serious threat of cyber attacks against […]
Banks Are Powerless Against The Biggest Threat To The Financial System
November 28, 2012 By Leave a Comment
Is The Federal Reserve Destroying Us Or Saving Us?
October 29, 2012 By 2 Comments
Most Americans have only a very limited understanding of how the Federal Reserve affects every aspect of our lives. Neither the Chairman of the Federal Reserve nor the twelve members of the Board of Governors are elected by the American public. The Federal Reserve operates independently in secret and has the power to make financial […]
FDIC Issues 67 Enforcement Actions In September Against Banks and Individuals
October 26, 2012 By 2 Comments
A total of 67 enforcement actions were taken by the FDIC against banks and individuals in September, down from 80 in the prior month. The September enforcement actions included the following: 8 consent orders 13 civil money penalties 20 section 19 orders 19 removal and prohibition orders 8 orders terminating consent orders and cease and […]
Connecticut Home Values Plunge As Banks Cut Jobs And Bonuses
August 29, 2012 By Leave a Comment
Banking industry woes are translating into major price declines for high end residential real estate in Connecticut. For those who believe that real estate prices has bottomed out, please consider Connecticut Homes Biggest Losers As Wall Street Cuts. Prices in the Fairfield County area, home of the banker bedroom communities of Greenwich and New Canaan, […]
Secret Government Plans For Economic Collapse Revealed – Five Years Later Still At The Abyss
August 14, 2012 By Leave a Comment
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, […]
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 […]
FDIC Issues 48 Enforcement Actions In June
July 27, 2012 By Leave a Comment
The FDIC announced in a press release today a total of 48 enforcement actions taken against banks and individuals in June 2012. In May, the FDIC issued 56 enforcement actions. Enforcement actions issued in June included three consent orders, two prompt corrective actions, nine removal and prohibition orders, twelve civil money penalties, five modifications of […]
Five Bank Failures Bring Year’s Total To 38 – FDIC Losses Top $1.9 Billion
July 21, 2012 By Leave a Comment
Regulators had a busy week closing five banks in four different states on Friday. Although bank failures have been proceeding at a slower pace than last year, the total losses to the FDIC Deposit Insurance Fund now top $1.9 billion and the number of problem banks remains very high considering that we are four years […]
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 […]
Glasgow Savings Bank, Oldest Bank In Missouri, Closed By Regulators
July 13, 2012 By Leave a Comment
Glasgow Savings Bank, Glasgow, Missouri, the oldest bank in the state, was closed down today by the Missouri Division of Finance. The FDIC, appointed as receiver, sold the failed bank to Regional Missouri Bank, Marceline, Missouri. Glasgow Savings Bank opened in April 1852. Despite a 160 year history of operations, the bank remained very small […]