Six years after the near melt down of the United States banking industry in 2008, more than half of all Americans still lack confidence in both the banking system and the government. Interestingly the United States with some of the biggest banking institutions in the world and the implicit backing of the United States Treasury […]
2012 Bank Failures Lowest Since 2008 As Regulators Close 51 Banks
December 31, 2012 By Leave a Comment
During the past five years we have witnessed the greatest financial turmoil since the Great Depression. Hundreds of giant bank failures rocked the nation, real estate values crashed, trillions of dollars of wealth vanished overnight and millions of Americans lost their jobs. Although a relative calm has been restored due to unprecedented actions by both […]
Bank Earnings Soar To Six Year High But Bank Stocks Still Off 50% From Pre Crisis Levels
December 4, 2012 By Leave a Comment
According to the latest FDIC Quarterly Banking Profile, the banking industry recorded its 13th consecutive quarterly year-over-year increase in profits. Total net income for all FDIC-insured institutions rose to $37.6 billion in the third quarter of 2012, a 6.6% increase from the third quarter of last year. Most of the increase in net earnings were […]
Banks Are Powerless Against The Biggest Threat To The Financial System
November 28, 2012 By Leave a Comment
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 […]
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 […]
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, […]
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 […]
Billon Dollar Bank Failure Caused By “Massive Bank Fraud” At Bank of the Commonwealth
April 24, 2012 By 1 Comment
Four years after the start of the banking crisis, federal investigators are proving what many Americans have long suspected – the root cause of many banking failures was due to fraud. The Office of the Special Inspector General for The Troubled Asset Relief Program (SIGTARP) announced last week that a massive $41 million bank fraud […]
U.S. Treasury Says Financial Crisis Is Over But The Next One May Be Right In Front Of Us
March 2, 2012 By Leave a Comment
According to the U.S. Department of the Treasury, the worst of the financial crisis is now behind us and the TARP bank bailout program has generated positive returns. In an article entitled “The U.S. Economy in Charts”, the Treasury Department notes that the economy is gradually getting stronger as evidenced by 10 straight quarters of […]