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Plan To Rid Banks Of Bad Loans Breaks Down

Wall Street Journal | Posted 05.25.2011 | Business

A government program designed to rid banks of bad loans, part of a broader effort once viewed as central to tackling the financial crisis, is stalling...

Zombie Banks Still Walk Among Us: CNN

CNN | David Ellis | Posted 05.25.2011 | Business

Small banks facing severe loan losses and in need of capital continue to operate, indicating a reluctance on behalf of regulators to shut them down....

Bair: Some Bank CEOs Will Be Fired

Huffington Post | Ryan McCarthy | Posted 05.25.2011 | Business

Who will be the next CEO to get the ax? In an interview with Bloomberg television to be aired this weekend, FDIC chairman Sheila Bair says that some b...

FDIC May Lend To Investors, Without GIving Taxpayers A Stake

Bloomberg | Rebecca Christie | Posted 05.25.2011 | Business

April 30 (Bloomberg) -- The Federal Deposit Insurance Corp. may offer investors financing to buy distressed U.S. bank assets without requiring them to...

By the Numbers

Max Fraad Wolff | Posted 05.25.2011 | Business
Max Fraad Wolff

We don't have limitless time or money. Consider the numbers. Remember that averages hide our inequalities. Inequality and imbalance are the true root causes of the US and global meltdown.

Sam Stein

FDIC: Toxic Asset Program Misrepresented By NYT | Sam Stein | Posted 05.25.2011 | Politics

The Federal Deposit Insurance Corporation is pushing back against criticism that the administration's toxic asset relief program would put it on the h...

How the Toxic Asset Plan Will Magically Make Your Money Disappear

Cenk Uygur | Posted 05.25.2011 | Business
Cenk Uygur

The toxic asset plan will pick your pocket to pay off some of the richest people in America. If you think that makes sense, then you deserve to have your pocket picked.

FDIC Adopts Risk Of Toxic Asset Program, Puts Taxpayer In The Hotseat: NYT | ANDREW ROSS SORKIN | Posted 05.25.2011 | Business

The Federal Deposit Insurance Corporation was set up 76 years ago with the important but simple job of insuring bank deposits. Now, because of what...

Magic Johnson and the Tax Refund Rip-off

Don McNay | Posted 05.25.2011 | Business
Don McNay

Because of Johnson, the tax refund business might stick around, luring in more millions of Americans.

FDIC Insurance Commitments 34% Higher Than Reported | Rolfe Winkler | Posted 05.25.2011 | Business

My thoughts came back to this recently when I looked at FDIC's 12/31/08 balance sheet. Note at the bottom of that link the estimate for total insured...

Yelling From the Back Step

B. Jeffrey Madoff | Posted 05.25.2011 | Business
B. Jeffrey Madoff

"Toxic assets" are two words that don't belong together in the English language. The meaning of one cancels out the meaning of the other.

Real Money vs. Real Anger

Max Fraad Wolff | Posted 05.25.2011 | Business
Max Fraad Wolff

An angry public is getting distracted hunting evil doers that really don't matter much in the grander national scheme.

The US has Over 6,000 Small Banks: The Government Should Use Them

Saskia Sassen | Posted 05.25.2011 | Business
Saskia Sassen

Small banks often help small firms and lower income households, partly because they know the local conditions and can gauge the soundness of borrowers in a local context

Take the Steering Wheel out of Geithner's Hands

Arianna Huffington | Posted 05.25.2011 | Politics
Arianna Huffington

Tim Geithner's actions throughout his career, including his time as Treasury Secretary, are proof that the toxic thinking that got us into this mess is part of his DNA.

Geithner's Last Stand

Robert Kuttner | Posted 05.25.2011 | Politics
Robert Kuttner

The indignation over AIG will serve a useful purpose if it focuses public attention on the much larger issue of the failure of the entire approach that Tim Geithner and Larry Summers are using to rescue the banking system.

Washington Mutual Sues FDIC For Over $13 Billion

Reuters | Posted 05.25.2011 | Business

Washington Mutual Inc, the failed U.S. savings and loan, has sued the Federal Deposit Insurance Corp for well over $13 billion in connection with the ...

Stop the Financial Services "Super Czar" (Updated)

Don McNay | Posted 05.25.2011 | Business
Don McNay

There has been talk about appointing a new "Systemic Risk Regulator." This "Super Czar" would oversee all of the financial services industry. We had a "Super Czar" last year. His name was Henry Paulson.

Free Money in the USA

Paul Hipp | Posted 05.25.2011 | Business
Paul Hipp

2009-03-18-Picture8copy.jpgDon't you kind of feel like someone at AIG needs to go to jail? Or maybe lots of people at AIG need to go to jail?

FDIC: As Rock Solid As Social Security

Michael Pento | Posted 05.25.2011 | Business
Michael Pento

We all should be painfully aware by now that there is nothing held inside the Social Security and Medicare trust funds but a bunch of IOUs. But the FDIC's Deposit Insurance Fund as well?

A Better Plan for the Banking System

Alan Schram | Posted 05.25.2011 | Business
Alan Schram

Take the money earmarked to large, corrupt and failing banks that wretchedly brought us to the precipice, and have the FDIC offer matching capital to anyone setting up a new community bank.

60 Minutes: Bank Failures And The FDIC

Huffington Post | Posted 05.25.2011 | Business

Television news magazine 60 Minutes went behind-the-scenes to show viewers what happens when a bank fails. 60 Minutes correspondent Scott Pelley fol...

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?

FDIC's Bair: Insolvency A Possibility

Bloomberg | Alison Vekshin | Posted 05.25.2011 | Business

March 4 (Bloomberg) -- Federal Deposit Insurance Corp. Chairman Sheila Bair said the deposit insurance fund could dry up amid a surge in bank failures...

Paulson Policy Failures

Alan Schram | Posted 05.25.2011 | Business
Alan Schram

The Treasury's policy did nothing to build confidence or stabilize the markets. The precipitous drop of the equity markets in October and November are the market's judgment on their policies.

How Big is This Bailout?

Alan Schram | Posted 05.25.2011 | Business
Alan Schram

It's not the government's job to make stocks go up. It's their job to ensure stability and confidence to counter the fear and panic now so prevalent all over the world. Markets will find their own equilibrium when that happens.