bankruptcy

As we head into the New Year, I am trying to look back at the last one with some semblance of a coherent interpretation of events that leads to a strategic vision of the future.  I have already touched on stimulus, kleptocracy and…

This comes from the blog News from 1930 on financial news from this day in… 1930 (I don’t what they plan to do after New Year’s Day): Bankers Trust of Philadelphia closed after heavy withdrawals; had 135,000 depositors, total deposits…

Internet maven and San Diego North County real estate guru “Jim the Realtor” has another post  showing us that extend and pretend is alive and well in the wonderful world of housing. This guy received his first NOD in April, 2006,…

Hat tip Prieur du Plessis

This is bank failure #140 and it has $6.1 billion in assets. First Federal Bank of California, a Federal Savings Bank, Santa Monica, California, was closed today by the Office of Thrift Supervision, which appointed the Federal Deposit…

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…

Good times are here again in residential property. House flippers are back and have now moved to foreclosure auctions.  Below is a house that was bought in foreclosure at $945,000 in November and is now on the market for $1.4 to 1.5…