banks

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…

With IndyMac having gone bust, bank shares tanking, and speculation rampant about who's next, it's time to consider what and how much the FDIC actually insures. This information is available at the FDIC website and I have added a blurb and…

Looking at today's selling wave, a number of bank shares are down over 10% including Washington Mutual (WM), National City (NCC), Wachovia (WB), Zion (ZION). Many other shares are trading well into negative territory with share prices…

Given the fact that the FDIC lost a massive $10.7 billion on the IndyMac transaction, I am re-posting this blurb from July. I said then, I still believe, the FDIC needs a lot more money or it will be bust. Sheila Bair has already requested…

The global economy is gripped by its worst financial crisis since the Great Depression. People are losing their homes and their jobs, banks are going bankrupt, and stock markets in the U.S. and elsewhere have fallen significantly from…

On the heels of a story about Spanish giant Santander buying Alliance & Leicester in the UK, it comes as good news in the marketplace that another Spanish giant, BBVA (Banco Bilbao Vizcaya Argentaria), is on the prowl as well.After…

Banco Santander of Spain is using the down market to snap up some UK assets on the cheap. It has announced the acquisition of Alliance & Leicester, the former building society which demutualised in 1997, for £1.3 billion ($2.6 billion)…

According to the Irish Independent, the recent fall in Irish bank shares is due to a loss of faith in their bad debt provisions. On Tuesday, Bank of Ireland fell 14%, the largest amount in 20 years.After last week's dive in their share…

For those of us who remember the Japanese rise and subsequent meltdown in the 1980s and 1990s, what is going on now is like deja-vu all over again. Except this time it is on a bigger scale. Remember Yamaichi, Nikko, Nomura and Daiwa? These…

For a complete list of prior news on writedowns see my Credit Crisis Timeline. Also look at the new list of Bankrupt Global Financial Institutions for information on large global financial institutions that have gone to the wall.2008 06 30…