Credit Writedowns

I have bee off for a couple of days but plan on returned to full force later today.  Here are the links from the past few days minus tech and blog-related items.  If I have a lot more links, I will post them this evening. El…

The real worry right now should be deflation, as we have not yet beaten back all of the ill deflationary effects of the financial crisis.  Nevertheless, a growing number of market participants see inflation as a longer term…

Public Support for the Public Option - 538 More evidence that the American public supports a public plan Obama’s Make-or-Break Summer - Frank Rich, NYTimes Forget the first 100 days. Obama's test begins now. Is it…

Moody’s Joins S.& P. in Warning on California Debt - Deal Book Always late to the party. The Plaza Stirs - NY Times "Few developments rode the wave of high prices in the Manhattan residential real estate the way…

We expect to have a brief hiccup in service later tonight due to maintenance.  I apologize for the inconvenience.  Hopefully, we will be offline for a very short time. Regards.   Edward

This is number 40 (earlier the headline read First National Bank of Kansas, but has since been corrected). First National Bank of Anthony, Anthony, Kansas was closed today by the Office of the Comptroller of the Currency, which appointed…

Here are the press releases (emphasis added). This makes 39 institutions this year. First, Cooperative: Cooperative Bank, Wilmington, North Carolina was closed today by the North Carolina Office of Commissioner of Banks, which appointed…

Here’s a good segment from CNBC with an interview from two city mayors, the mayor of El Centro, CA that has 26.9% unemployment, the highest in the nation, and the mayor of Flint, MI, which is imploding due to the decline in the U.S. car…

During the Great Depression, it was the Smoot-Hawley Tariff Act, which in hindsight is blamed for triggering a wave of protectionist actions globally.  Protectionism was a major contributor to the downward spiral that created depression. …

Note from 15 Sep 2010: On the second anniversary of the Lehman bankruptcy, it bears noting that the sway government has over the banking sector has diminished. The Big Bank CEO Phil has done the prudent thing regarding lending standards.…