bankruptcy

As you may recall, Roskilde Bank in Denmark was recently rescued by the Danish central bank as it fell prey to the recession in Denmark. However, shareholders there are still fighting to save the bank, pitting interested parties against…

Apparently the credit crisis is claiming victims in the financial sector everywhere including this New London, CT credit union and its investment manager. Obviously, credit unions aren't immune either.The 82-year-old broker who handled…

In further proof that we're back to the Great Depression again, everyone is talking about unsecured bank deposits. Basically, if you have less than $100K at an FDIC institution, you're good to go. If you have more, you'll need to spread…

I fully anticipate this will happen, so the question becomes: what will the Fed do?The FDIC stepped in at two banks over the weekend, 1st National Bank of Nevada and First Heritage Bank. These banks failed as a result of construction loans…

1st National Bank of Nevada and First Heritage Bank, operating in Nevada, Arizona and California were taken over by the FDIC on Friday. They always wait until Friday night to do their business. This marks the first FDIC closure action…

The day is almost over for the market (thank goodness) and it seems that financal service investors are in panic mode again. The market is down over 250 points and some shares in financial services are down over 15%. What gives?As we may…

As the economy hits stall speed, it is only to be expected that corporate default rates are set to rise. In fact, they have risen already, doubling since 2007.Through last week, 42 companies, all but one based in the U.S., have defaulted,…

In the aftermath of the Meltdown of the GSEs and the heavy-handed regulatory solution used to stem the tide, regional banks are in focus for investors as they stand to the take the brunt of short-selling. Financial services bears know full…

This is just a step en route to nationalization. We are seeing a spiral down that will mean the U.S. Government will eventually step in. These organizations will fail without government support and they are too big to fail.Fannie Mae and…

This comes from the LA Times: October 7, 2003, Simi Valley In Simi Valley, in 2003, people camped out for the chance to buy a yet-unbuilt condo for about $300,000. Photo Credit: Bob Carey, L.A.Times July 14, 2008, Pasadena…