banks

Below is a partial list of December FDIC enforcement decisions and orders. I have only included cease-and-desist orders, prompt corrective action notices and termination of insurance orders as these are the signs of banking system distress.…

Exactly three months ago, I told you to expect bankruptcy in the record Stuyvesant Town real estate deal. Today, this is exactly what we got: A group led by Tishman Speyer Properties has decided to give up the sprawling Peter Cooper…

Hat tip Prieur du Plessis Source 20 Jan 2010 editorial cartoon - Nick Anderson, Comics.com

The poll results are in on why President Obama has begun a ‘War on Wall Street.’ A majority of CW readers believe President Obama’s recent populist turn and harsh rhetoric directed toward Wall Street is a political stunt. And to the degree…

I picked up this Robert Reich quote from Politico’s Open Mic section, which echoes the sentiments expressed by a Massachusetts voter in my recent post “President Obama, are you listening?”: A third political party is emerging in…

This is pretty major stuff: Goldman recorded negative compensation in Q4 as zero bonuses are accruing for the quarter. Reuters says: The bank recorded negative compensation expense in the fourth quarter because of the contribution to…

That’s the gist of yesterday’s post by James Pethoukoukis.  The column says: A historic victory, really. It is hard to overstate just how “blue” a state Massachusetts is. Obama won it by 26 percentage points in 2008. Until now…

Today President Obama is set to propose wide-ranging moves on bank regulation first proposed by his economic advisor Paul Volcker, the former Federal Reserve Chairman. Details of the proposal have yet to be released. However, the focus is…

CNBC's Diana Olick has the breaking story on alleged fraud in the mortgage industry. She has been writing about this for a few days now.  See Big Banks Accused of Short Sale Fraud - Realty Check with Diana Olick at CNBC’s website.…

This is a post which I originally published at New Deal 2.0. Ed mentioned yesterday in his post Credit crises, market equilibrium, economic policy and fiat currencies that both the neoclassicals and the Obama Administration believe the…