Credit Writedowns

They keep coming and this one is big. It is #139. Capital Bank, La Jolla, California Imperial Capital Bank, La Jolla, California, was closed today by the California Department of Financial Institutions, which appointed the Federal…

No buyer for Citizens State Bank, New Baltimore, Michigan. Uninsured depositors may get stiffed. Citizens State Bank, New Baltimore, Michigan, was closed today by the Michigan Office of Financial and Insurance Regulation, which then…

From the FDIC (emphasis added): The Federal Deposit Insurance Corporation (FDIC) approved the payout of the insured deposits of RockBridge Commercial Bank, Atlanta, Georgia. The bank was closed today by the Georgia Department of Banking…

From the Guardian: General Motors announces closure of 62-year-old Swedish carmaker after collapse of negotiations with Spyker One of the most famous names in European motoring, Saab, is set to be consigned to automotive history…

This was an interview we did early last week. Max is very entertaining to talk to.  Take a look. See Stacy Herbert's summary as well.

I believe climate change is coming and peak oil is upon us. But I have to post the video below anyway. I remind you, this is pure propaganda: Goebbels, anyone? Kind of ironic, isn’t it? But, I love how this scene from “Der Untergang” can…

I will be out for most of the day, so posting may be light.  Tonight it will snow in DC and we may get a foot by Sunday. I hear it has snowed in London too. Exciting stuff. Pain in Spain (not mostly on the plain) Pain in Spain -…

Strategic Default interfluidity » Strategic default and the duty to shareholders Luxury-Home Owners in U.S. Use Short Sales as Defaults Rise - Bloomberg.com    interfluidity » Strategic default: a soldier’s…

The latest WSJ/NBC News poll shows that President Obama’s approval rating has now slipped under 50%. This makes his the steepest first year decline in modern history. Why?  You know what I would say: Obama doesn’t know when to be…