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Banking Crisis

Bailout May Bring More Economic Disaster If Obama Doesn't Act

Daniel Bruno Sanz | Posted 05.25.2011 | Home
Daniel Bruno Sanz

Obama should publicly go along with Paulson's plan for now. But he should quietly create a new banking institution free of toxic debt and repeal the bailout in 2009.

When Did Debit Cards Become #@*!ing Credit Cards?!

Cecilia Michelson | Posted 05.25.2011 | Business
Cecilia Michelson

Now I see that perhaps banks didn't care to explain the terms very carefully to borrowers who perhaps weren't educated enough to do the research themselves.

At Last, Steve Forbes and I Agree

Kay Koplovitz | Posted 05.25.2011 | Business
Kay Koplovitz

Get rid of onerous mark to market accounting rules, institute the uptick rule for short sellers and enforce rules for naked short selling

How Many More Failed Banks Will FDIC Seize Today?

Mark Nickolas | Posted 05.25.2011 | Business
Mark Nickolas

With the economy continuing to deteriorate, the question is how many more failed banks will the FDIC at the close of business today?

Geithner's Folly

Robert Kuttner | Posted 05.25.2011 | Politics
Robert Kuttner

All of Obama's good work will be for naught if his team doesn't get the banking system functioning again.

Banks Call the Kettle Black

Mark Miller | Posted 05.25.2011 | Business
Mark Miller

What industry is least qualified to question the competence of others to handle money right now? Would you guess . . . the banking industry, maybe? N...

Heritage Community Bank Shut Down By Regulators, Third Illinois Bank To Collapse

Chicago Tribune | Becky Yerak | Posted 05.25.2011 | Chicago

Heritage Community Bank was shut down Friday by state and federal regulators, becoming the third Illinois financial institution to fall so far this ye...

Banking Is In Critical Condition

Hale "Bonddad" Stewart | Posted 05.25.2011 | Business

It's been 17 years since we've seen the banking industry this sick. Return on assets hasn't been this low in 20 years. What caused the last set of problems? The savings and loan crisis.

The Perfect Crash Course in The Economy

Charles Shaw | Posted 05.25.2011 | Business
Charles Shaw

Chris Martenson created a three-hour long internet video that is a literal "crash course" in the economic, environmental, and societal "crashes" that are unfolding all around us.

Over 30 Illinois Banks Could Collapse In 2009: Report

Chicago Tribune | Becky Yerak | Posted 05.25.2011 | Chicago

More than 30 Illinois banks and thrifts have high levels of delinquent loans and stand a greater risk of being closed by regulators in 2009 if they do...

Can We Handle the Truth?

Larry Gellman | Posted 05.25.2011 | Business
Larry Gellman

Only Obama and the financial markets are telling us the truth. Not only can we handle it, most Americans are thrilled to finally have a president who is smart enough to know what's going on.

Citigroup Nationalization: Market Reacts To Talks Of 40% Gov Stake

AP | TIM PARADIS | Posted 05.25.2011 | Business

NEW YORK — Wall Street has turned the clock back to 1997. Investors unable to extinguish their worries about a recession that has no end in sigh...

Culture Zohn: Terms of Endearment, or Why the Collapse of the Financial Markets is Just Like Love

Patricia Zohn | Posted 05.25.2011 | Business
Patricia Zohn

I am still imagining this whole thing to be a physical thing -- something you can get your arms around, like a guy -- and soothe, by whispering sweet nothings in his ear.

Blame the Banks, Not Homeowners for Foreclosure Crisis: Obama's Plan is a Step in the Right Direction

C. Nicole Mason | Posted 05.25.2011 | Business
C. Nicole Mason

Many Americans bought their homes because they believed in the age old value of homeownership and thought it would make a sound investment.

The Politics of Bank Nationalization

Jay Mandle | Posted 05.25.2011 | Business
Jay Mandle

Nationalizing failed banks will not be an easy sell. The country has had a long romance with markets and the residue of that infatuation persists among significant segments of the population.

Help Wanted: Swedish Model to Kill Off Zombie Banks

Miles Mogulescu | Posted 05.25.2011 | Business
Miles Mogulescu

In order not to spook markets, Obama and a small team of financial commandos needs to orchestrate a sneak attack on the Zombie Banks.

Get Ready For A Wave Of Bank Failures: CNN

CNN | David Ellis | Posted 05.25.2011 | Business

If it's Friday, there must be a bank failing somewhere across the country. For six consecutive weeks, industry regulators have seized control of a ba...

Bailout Banks Survival Guide: Rating The Top 12 Banks | Martin Hutchinson | Posted 05.25.2011 | Business

We listed the 12 largest U.S. banks by assets, as of Dec. 31, ignoring foreign-owned banks, Goldman Sachs Group Inc. (GS) and Morgan Stanley (MS) (tho...

Banks' Stress Tests: Find Out How Stressed Is Your Bank

Time | Stephen Gandel | Posted 05.25.2011 | Business

Geithner hasn't detailed his test, other than that it won't be complete for another month. Worse, officials at the Treasury say the tests probably won...

Regulators Close 4 Banks, 2 Are Absorbed By TARP Recipient Companies

Bailout Sleuth | Chris Carey | Posted 05.25.2011 | Business

Regulators closed four more banks on Friday, seizing their assets and deposits and placing them with other financial institutions. Two of the four fa...

Obama's Next Challenge

Robert Kuttner | Posted 05.25.2011 | Politics
Robert Kuttner

President Obama managed to get a decent economic stimulus bill through Congress. However, this victory was easy compared to the challenges that await the president and the country.

Jason Linkins

Scritti Politti: February 11, 2009 | Jason Linkins | Posted 05.25.2011 | Media

Fox News isn't the only organization issuing corrections today. Keith Olbermann is going to be owning up to a mistake he made whilst crowning News Cor...

Jason Linkins

WaPo's Pearlstein Rips Wall Street, Touts A Main Street Success | Jason Linkins | Posted 05.25.2011 | Media

The headline running at the top of the Washington Post's website reads "Wall Street Executives Go On Image Offensive," neatly setting today's storylin...

Bankers on the Hill

James Warren | Posted 05.25.2011 | Politics
James Warren

Rarely in the rich history of congressional stonings have the victims been so crisply-attired, so contrite, so deferential, and so tolerant of their grandstanding captors.

"I'm Sorry You're So Stupid:" Head of Iceland's Central Bank Refuses to Step Down

Iris Erlingsdottir | Posted 05.25.2011 | World
Iris Erlingsdottir

According to the Financial Times, this dispute is further damaging Iceland's standing in the eyes of foreign investors, and may endanger the IMF's plans for saving Iceland's economy.