Some interesting reads:
• Recovery Can Only Go So Far Without Jobs (Market Talk)
• Paul Farrell: Wall Street’s 2012 meltdown sweepstakes (Marketwatch)
• Lessons from the crisis: Re-educate the geeks (Reuters) British quant seeks to reform financial risk-takers
As of today, our automated tool to gather FDIC bank call reports and generate Stress Index ratings has gathered data on some 5,063 institutions. Users of the professional version of the IRA Bank Monitor can see the ratings on a list we have built on the Bank Monitor home page [...]
Nine banks with a total of 153 offices were seized last evening, opening today as branches of the appropriately named U.S. Bank.
"The FDIC and U.S. Bank entered into a loss-share transaction on approximately $14.4 billion of the combined purchased assets of $18.2 billion. U.S. Bank will share in" [...]
Nice:
“The Federal Deposit Insurance Corporation (FDIC) entered into a purchase and assumption agreement with U.S. Bank, NA, of Minneapolis, Minnesota, a wholly-owned subsidiary of U.S. Bancorp, to assume all of the deposits and essentially all of the assets of nine failed banks. The nine banks were closed this evening by [...]
The media, and apparently FDIC employees, gather outside San Diego National Bank just minutes before the bank was seized last night.
We’ve warned readers countless times about email spam. We try to tell readers what to look out for and how to protect themselves from online fraud. A spam email we got this morning goes back to the warning that scammers will use government agencies to either scare you [...]
7 new lucky ladies to add to the count brings the 2009 total up to 106:
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Chart Courtesy of Washington Post
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Chart via Ron Griess of The Chart Store)
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See also:
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The FDIC closed seven more banks on Friday, and that brings the total FDIC bank failures to 106 in 2009. The following graph shows bank failures by week in 2009.Well, we are now officially in triple digits. It was announced earlier today that the 100th bank failure in 2009 was in Florida. MarketWatch.com writes, "The parade of bank failures continued on Friday as the FDIC took control of Partners Bank of Naples after it was closed by the" [...]
