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Banking Crisis

Who Watches the Watchers?

Sheila Tendy | Posted 05.25.2011 | Business
Sheila Tendy

This financial crisis is complex. But it's too important not to understand.

John McCan Wants the Health Care Industry to be More Like the Banking Industry

Robert Schlesinger | Posted 05.25.2011 | Politics
Robert Schlesinger

John McCain wants the health care industry to be more like the banking industry. This from a McCain article in Contingencies, the magazine of the Ame...

Paulson Bailout Plan Could Cost $1 Trillion

Politico | Posted 05.25.2011 | Business

Congressional leaders said after meeting Thursday evening with Treasury Secretary Henry Paulson and Federal Reserve Chairman Ben Bernanke that as much...

Freddie Mac Boss Selling $5 Million Vacation Home (PHOTOS)

Huffington Post | Posted 05.25.2011 | Business

Freddie Mac CFO Anthony "Buddy" Piszel must be feeling the crunch, as the NY Post reports he is selling his Maryland vacation home for $5 million Pisz...

Bank Of America Now: Too Big To Succeed? | Chadwick Matlin | Posted 05.25.2011 | Business

Almost lost in the smoke-bomb of Lehman Brothers' epic fail Sunday was Bank of America's historic takeover of Merrill Lynch for $50 billion. Over the ...

Paulson Drew The Line At Lehman Brothers, Sparked Frantic End

Wall Street Journal | Deborah Solomon | Posted 05.25.2011 | Business

One of the most tumultuous weekends in Wall Street's history began Friday, when federal officials decided to deliver a sobering message to the captain...

Cramer On A Great Depression: Is It Just Worth Having? (VIDEO)

CNBC | Posted 05.25.2011 | Business

Jim Cramer, host of CNBC's "Mad Money," asked Wachovia CEO Robert Steel about the various crises in the U.S. economy and the Federal Reserve's respons...

Paulson Sees The End Of Trouble... In A Few Years (VIDEO)

CNBC | Posted 05.25.2011 | Business

Treasury Secretary Henry Paulson took some time today to talk to journalists and attempt to calm the nation during a tumultuous Monday for Wall Street...

How Much Can The Government Do In The Credit Crisis?

Wall Street Journal | Jon Hilsenrath, David Enrich and Deborah Solomon | Posted 05.25.2011 | Business

Doing more could lead to other problems. Fed officials are wary of pushing short-term interest rates lower. At 2%, the federal-funds rate is 3.25 perc...

Will Lehman Brothers Be Bailed Out? Should It?

Wall Street Journal | Heidi N. Moore | Posted 05.25.2011 | Business

Is it time for the government to help out Lehman Brothers Holdings? It has been all of two days since the Fannie Mae-Freddie Mac bailout was announce...

Warren Buffett No Longer Trusts Banks More Than The FDIC Does

Wall Street Journal | Damian Paletta | Posted 05.25.2011 | Business

Warren Buffett's Berkshire Hathaway Inc. has told one of its subsidiaries to stop insuring bank deposits above the amount guaranteed by the federal go...

Feds Finally Seize Failed Bank That McCain's Son Ran

Mark Nickolas | Posted 05.25.2011 | Politics
Mark Nickolas

Sadly, America is in the thick of the biggest national financial crisis since the savings and loan meltdown of the 1980s and McCain was at the epicenter of the 11th bank failure this year.

California May Probe Senator Schumer Over IndyMac Collapse

Reuters | Posted 05.25.2011 | Business

WASHINGTON (Reuters) - California's attorney general is reviewing a request by former employees of IndyMac Bancorp Inc to investigate whether a New Yo...

Banks May Have Lost $500 Billion In Credit Crisis

Clusterstock | Jonathan Kennedy | Posted 05.25.2011 | Business

Remember when everyone gasped in astonishment when Fed Chairman Ben Bernanke said that total losses from the credit crisis could eventually sum to a w...

Large Bank Collapse Projected In US By Former IMF Chief

Reuters | Posted 05.25.2011 | Business

SINGAPORE (Reuters) - The worst of the global financial crisis is yet to come and a large U.S. bank will fail in the next few months as the world's bi...

National Media Finally Examining McCain's Son Role In Failing Bank

Mark Nickolas | Posted 05.25.2011 | Politics
Mark Nickolas

Silver State, yesterday, further revised its dismal second quarter results, during which time Andrew McCain served on the board and on its audit committee, to include another $10 million in losses.

Housing Values Drop, Sting Bank Stocks

Wall Street Journal | James R. Hagerty and Jonathan Karp | Posted 05.25.2011 | Business

The steep losses on sales of foreclosed homes are painful for banks and investors in the short run but should help clear the backlog. That would allow...

Short Selling Rules Expire Today

Reuters | Posted 05.25.2011 | Business

Last month, the SEC imposed a temporary rule that requires investors to borrow stock before executing a short sale in 19 major Wall Street firms such ...

FDIC Poised To Seize Failing Bank Where McCain's Son Served As Director and Audit Committee Member?

Mark Nickolas | Posted 05.25.2011 | Politics
Mark Nickolas

A quick update on the still unreported saga of Silver State Bancorp, the failing bank where John McCain's (R) son Andrew served as a director and memb...

Hedge Funds' Year Still Getting Worse

Wall Street Journal | Cassell Bryan-Low | Posted 05.25.2011 | Business

In the world of hedge funds, it is harder to hide from the financial crunch. Since the crunch began, these elite money managers have generated strong...

Still No Answer Why McCain's Son Quit Board Of Failing Bank

Mark Nickolas | Posted 05.25.2011 | Business
Mark Nickolas

Six days after Andrew McCain suddenly resigned as a member of the board of directors and audit committee of Silver State Bancorp, there's still a great deal of mystery about his departure, as no one is talking.

SEC's Covered Bonds: How Will They Help?

DealBreaker | John Carney | Posted 05.25.2011 | Business

The New York Sun has the clearest explanation of covered bond that we've seen. A covered bond offers the holder what is known as a dual recourse....

Why The Merrill Thing Matters: Domino Write-Down Effect

BloggingStocks, Reuters, DealBreaker | Posted 05.25.2011 | Business

DealBreaker's Bess Levin reports that Merrill Lynch's bad news this week is contagious: Emboldened by Merrill's courting of public embarrassment, Cit...

Wachovia CEO Feels Investors' Pain, But Still Has $14 Million In Stock, So It's Cool

ClusterStock | Henry Blodget | Posted 05.25.2011 | Business

Wachovia's incoming CEO, Bob Steel, made a smart PR move a couple of weeks ago: He reached into his (deep) pocket and bought $16 million of Wachovia s...

You Can Take That To the Bank...not!

Thomas Stern | Posted 05.25.2011 | Business
Thomas Stern

We all know that none of us are safe. With China owning so much of our debt, my financial institution just changed its name to "Bank of What Was Formerly Known As America."