Monetary System

This time it is Silver State Bank of Henderson, NV to go bankrupt. Read the press release below. This one is pretty large with assets of $2 billion and it has ties to Republican Presidential nominee McCain.See my list of Bankrupt global…

The troubled French bank Natixis is asking its shareholders to pony up billions in additional funds -- but at a huge 61% discount. This is a bank that is in deep trouble. Every country has one bank on the brink from Bradford & Bingley…

A few weeks ago, I said I thought the volatility in commodity and currency markets smelled like panic. I found it very hard to believe that we could have such violent moves without a significant shakeout in the hedge fund world. We are…

In the biggest German banking merger in history, Commerzbank, the third largest in Germany, has reached an agreement with Allianz to buy its banking subsidiary Dresdner Bank, Germany's second largest, beating out an alleged better bid from…

Another Friday afternoon massacre claims another failed U.S. bank. This time the bank was in Georgia. Integrity Bank of Alpharetta, GA had $1.1 billion in assets. As is FDIC custom, the announcement wasn't made until after markets had…

Apparently, a new market of peer-to-peer lending has popped up , where banks are no longer a part of the lending proposition. Loans are made directly peer-to-peer. Whether this is a reaction to tight credit or some weird new innovation due…

Below are the latest writedown stories from the web that I have seen. For the full timeline of news, visit my credit crisis timeline. Bloomberg recently updated their tally of writedowns to arrive at $503.8 Billion to date. That is on…

Here's the Guardian's take on the news and a story from the Telegraph.RBS axe likely to fall on Sir Tom, not Sir Fred - Telegraph

In Europe, there has been a lot of talk about Germany's second largest bank, Dresdner Bank, which is looking to get sold by its parent Allianz. Allianz, which also owns U.S. bond giant PIMCO, has had only trouble with Dresdner since it…

PIMCO, the brainchild of Bill Gross and now owned by the German insurance giant Allianz, is concerned enough about the bankruptcy of Roskilde Bank in Denmark to have sent the following e-mail out to its clients. I have put important parts…