accounting

This article speaks for itself.Bill for taxpayers swells by trillionsDeficit far bigger than government estimateBy Dennis CauchonUSA TODAYThe federal government's long-term financial obligations grew by $2.5 trillion last year, a reflection…

I don't know if you caught the Bloomberg article about the $35 billion in missing writedowns, but I thought it was about time I exposed it. Bloomberg news says:Banks and securities firms, reeling from record losses resulting from the…

As you know, I am looking at the UK and Spain as the epicenter for the next leg down in the housing bubble. Spain suffered massive overbuilding while the UK had a huge run-up in prices.The Blogger at UK Bubble is on to something in her…

The Commercial Real Estate (CRE) bust is coming to an office building near you. The latest story? The GM building in NY was flogged off with some other properties at the peak of the bubble for a cool $3.6 to $3.9 billion. Now, the…

The list of financial institutions needing capital because they lost so much in the credit crisis grows by the day. Now, its the insurance company AIG. After their abysmal earnings report, they need an enormous $20 billion to tide them…

I stumbled across an interesting blog over the weekend called "The Automatic Earth." I had been doing some research into writedowns at financial institutions due to loan losses and asset impairment when a great entry from The Automatic…

The financial services sector has been reeling from over $300 billion in writedowns due to the credit crisis that has spread globally. I expect further losses to hit this sector in the U.S. due to commercial real estate, credit cards,…

As the epicenter of the credit crisis has clearly moved to Europe, British Banks are at the center of new developments. However, doubts still exist about how they are valuing their assets and accounting for loan losses. Yester day the…

The list below is the largest collection of links related to the present credit crisis on the web. I have been amending this list since May 2008. But, as the list is pretty large now, I have taken care to break it up into different…

Deutsche Bank released earnings that showed a loss for the first time in five years as they wrote down $4.2 billion in equity as a result of the global credit crisis. While Deutsche Bank has got off well because of reduced exposure to…