Toxic Loans Topping 5% May Push 150 Banks To Point Of No Return

Bloomberg News:

Aug. 14 (Bloomberg) -- More than 150 publicly traded U.S. lenders own nonperforming loans that equal 5 percent or more of their holdings, a level that former regulators say can wipe out a bank's equity and threaten its survival.

Read the whole story: Bloomberg News

Comments

[research]

10:53 AM on 08/17/2009

24T$ loaned to the Bankster who caused the crash.

100's of billions in bonuses to the banksters who caused the crash.

"About 2.6 percent of the $7.74 trillion in bank loans outstanding in the U.S. at the end of March were nonaccruing, the highest in 17 years, according to the most recent data from the FDIC. Nonaccrual loans peaked at 3.27 percent in the second quarter of 1991, during the savings and loan crisis, and averaged 1.54 percent over the past 25 years. "

2.6% is 182B$ about what the Bankster took in bonuses.

The Bankster Bonuses could have PAID OFF all the nnonaccruing loans. Completely.

The relative financial power of the Bankster who caused the crash versus Main Street is about 100 worse than before the crash: 24$T over 2 years versus .6T over ten years.

FDR forced the Banks into an Audit, his first day in office.

Obama continues the Hoover and Bush bank Bailouts, because Obama and the Dem leaders are DLC corporatist sellouts, still compromised to compete against Reagan, instead of riding the populist liberal wave building since the crash.

See my profile for details and a primer on money and economics with links.

Kucinich beat the banks.

Kucinich/Dean 2012!

[JaneQCitizen]

10:38 AM on 08/16/2009

All that Americans need to do to wipe out the banks is stop paying mortgage and credit card bills for 6 months. Banks gone and we can start from scratch.

[sonofsamphm1c]

02:12 PM on 08/16/2009

Lunacy.

[RJII]

03:33 PM on 08/16/2009

we can start with the old, old bartering system. I always wanted to raise a few chickens. lol.

the devil-in-me would like to see the too bigs to fail, fail. But it would devastate soo many. Already has.

[PhilipTaylor]

03:38 AM on 08/16/2009

Some ask HOW DO I GET A HANDLE ON WHAT HAPPENED TO AMERICA?

Starting with the FACTS is the first step!

Another is the Dlyan Ratigan interview on MSNBC with Spitzer!
http://www.youtube.com/watch?v=gAtSmR7Z-Kg

Another older video is "HOUSE of CARDS" that describes some of it.
http://www.cnbc.com/id/28892719/
_______________
Facts:

Our GDP in 2008 was about $14 Trillion - that is the SUM of all Americans working for one year!

[PhilipTaylor]

03:37 AM on 08/16/2009

Here are the FIVE MOST BANKRUPT BANKS!

A Federal Agency in our Government, the Office of Comptroller of the Currency, OCC, issues a quarterly Report that has the following info:

1 JPM0RGAN $81TRILLION in Toxic Derivatives
2 B 0F AM $78TRILLION
3 G0LDMAN $48 TRILLION
4 M0RGAN $39 TRILLION
5 C1T1GROUP $32 TRILLION

http://www.occ.gov/ftp/release/2009-72a.pdf
It is on page 23!

[J-Rome]

03:38 AM on 08/16/2009

You are always on the case PT. Thanks for the data.

[RJII]

03:40 PM on 08/16/2009

geat info. my comment to your post was removed by HP. don't understand why.. maybe it will pop back up.

[Rayme]

11:00 PM on 08/15/2009

And the Derivatives and toxic assets will take out the biggest 19 banks that the Federal Reserve is trying to save.

[MyTake]

04:40 PM on 08/15/2009

And still no one in NY is in jail for creating and distributing these toxic envelopes nationally and across the globe.

Mr. Prez., take a walk over to DOJ and get this done!

[norkas]

05:44 PM on 08/15/2009

I have seen a multi billion dollar fraud coverd up so consumers could not get there money back. Money laundry was involved for millions as well.

New York City is a third world country that covers up multi billion dollars infrauds.

Please tell mayor Bloomberg and others you will never come to untill they clen this up.

AIG was reported lomg befor ethey imploded and the feds closed there eyes on this one also even after someone powerful reported them. This is a case of FRAUD within the Feds of NYC and only by telling your congressman and others and a threat of no more visits or spending money in the city i love will there be justivce for all of us.


What i saw was unreal and covered up with a snap of a finger. They made a deal with the crooks and never told the public so they could get billions back. This is a sick city when it comes to the feds expecially in the southern district court

[jsgaetano]

12:12 PM on 08/15/2009

So how many Bank Execs are getting sent to prison for committing fraud?

Oh that's right, there's no accountability in conservative economics.

[ncmom54]

02:34 PM on 08/15/2009

very well said!

[factotem]

12:11 PM on 08/15/2009

Thank God they spent all their bailout money on raised, bonuses and lavish trips. NO 2nd bailout!

[sonofsamphm1c]

02:15 PM on 08/16/2009

You can look up the names of the 72 banks that have failed so far, and then look on the list of TARP recipients to see if they are there.

Or, you could just make stuff up.

[LeeCalif]

12:06 PM on 08/15/2009

This is a story with a Bloomberg false spin.

150 banks ............. A Day for a month or more.

Ck out your institution for free !

BauerFinancial.com

[comicpro]

11:50 AM on 08/15/2009

After reading that article its pretty safe to say that our financial system is broke beyond repair. its a perect storm of bad news and economic horror that will continue to close banks at a record pace. Let them all fail I "ssay. The stronger better capitalized banks" will just get more deposits and continue to !@#$%^& over the retail banking customer to cover their bad management styles and decisions. Bankers have and will forever go to Washington and cry about the systemic risk to letting these banks who are too big to fail. I say let the chips fall where they may, expose how deep we are in the doo-doo and start fixing the problem. kicking the can down the road and bailing out bad decisions will only make people take more risk.

[JoeBlough]

11:58 AM on 08/15/2009

Why banks? Move to a credit union and avoid the rip-offs.

[jsgaetano]

05:58 PM on 08/15/2009

I hear a lot of people pimping their credit unions, but they aren't all the same. I was with a credit union for a few years, and it was pretty terrible.

[Clownbaby]

11:48 AM on 08/15/2009

Great work, Barney Frank, Geithner, ObamaBush, Paulson, Bernanke! Thanks for ruining our economy!

[jsgaetano]

06:00 PM on 08/15/2009

Youi're just blaming the people who played in the last inning.

Conservatives have spent the last 100 years trying to destroy America. The GW Bush years were their magnum opus for tearing apart the US economy.

[sonofsamphm1c]

02:16 PM on 08/16/2009

Clownbaby is about as clueless as it gets.

[spinns17]

11:44 AM on 08/15/2009

just wall street wanted.more to big to fail banks.they did this back in the last depression.and it was started by jp morgan to.lol

[jsgaetano]

06:01 PM on 08/15/2009

And FDR outlawed most of this... until conservatives started championing "deregulation".

When a conservative talks about "financial innovation", they really mean defrauding taxpayers.

[Sundialsvc4]

11:09 AM on 08/15/2009

It's called "securities fraud."

[Bude]

10:58 AM on 08/15/2009

"Toxic banks May Push loans To Point Of No Return."

[changeself]

10:56 AM on 08/15/2009

let them bite the dust!

push them into the pit!