Bank Of America, Hated By Many, Could Make Some People Rich In 2012

During 2011, some of the smartest investment pros in the world bet heavily on Bank of America and lost big as the stock price collapsed. Concerns over the looming collapse of the European banking system sent U.S bank stocks into a tailspin as panicked investors sold.  From a price of $15 in January 2011 the […]

Foreclosure Settlement Q&A – Who Wins, Who Loses – A Victory For The Irresponsible

A $25 billion foreclosure settlement reached between the government and the big banks has many wondering who will win and who will lose among the different parties involved.  Although the settlement is complicated and will take years to work out, the basic framework will please some and annoy others. Here are some basic questions and […]

Too Big To Fail Banks Get Bigger – Fundamental Financial Problems Worse Than 2008

David Stockman, former budget director in the Reagan administration, argues persuasively that the fundamental problems of the financial system are worse than in 2008. The “too big to fail” banks have become bigger, politicians have been bought and paid for, an entitled class of Wall Street financiers are being served by government policies and a […]

Everyone and No One Is In Charge Of Fixing The Housing Crisis

The housing crisis is widely viewed as the biggest impediment to economic recovery.  Despite the expenditure of trillions of dollars in financial support from the Federal Reserve and other government agencies, housing prices continue to decline.  In addition, the wide ranging regulatory overhaul of banking and mortgage practices being implemented under the Dodd-Frank Act, is […]

Banking Update – Daily Banking News

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 […]