Economy

Michael Panzner has a good post on his site about regional banks being the next front in the Credit Crisis. He mentions home equity lines (HELOCs) as a crucial piece there, referring to an article in the Financial Times. His blog entry…

The Telegraph reported that UBS, the giant Swiss Bank, had its shares suspended twice yesterday as it tried to mount a share rights issue while its shares plummeted to a 52-week low. UBS is trying to raise 16 billion Swiss Francs (about $16…

My blog title comes from the title of an article, "Bank failures to surge in coming years" by MarketWatch on 23 May 2008. I highly recommend reading the full article. It mentions that only 3 banks have actually failed so far in…

This is what consumer inflation has looked like in the United States.

RBS failed to get all the money it needed for its rights issue with 300 million shares still in the hands of its underwriters, reports the FT. These shares are to be sold today. This massive $24 billion (£ 12 billion) shows the limits of…

This sounds a lot like Bradford and Bingley in the UK. Lehman is really on the edge of collapsing. They need the money....NOW! One must believe the second leg down in bank credit write-offs and the credit crunch has started.By Steve…

Barry Ritholtz at the Big Picture is on to something. He has found A Perfect Recession Indicator. Since 1953, when year-over-year Non-Farm payrolls have gone negative, there has been a recession. This happened nine out of nine times for…

I have posted a few times on the problem surrounding an imminent writedown wave for commercial real estate (CRE) and construction loans in the US. A few days back, I had intended to post more about regionals. The Wall Street Journal had a…

The Sunday Telegraph is reporting yet another major Western bank is going cap in hand to sovereign wealth funds in order to stave off the inevitable crisis. This time its Barclays, Britain's third largest bank. At a time when RBS is…

Latest Additions2008 05 26 UBS Falls After Saying More Mortgage Losses Possible2008 05 27 Banks, Brokers Cut 83,000 Jobs as Subprime Losses Mount: Table2008 05 28 Ambac shares hit record low after new disclosure2008 05 28 KeyCorp Slide…