Browsing Tag

credit cards

Does the FDIC have enough money?

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…

Irish banks have unreported bad debt

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…

IndyMac: Another Banking Bankruptcy

See my list of Bankrupt global financial institutions for past news on IndyMac and other bankrupt financial institutions.This is a very big deal. It seems that the financial crisis has reached fever pitch now. Given the week we just went…

Denmark bails out Roskilde Bank

Earlier this morning, I read about the bailout of Roskilde Bank in Denmark through the Sydney Morning Herald. Roskilde Bank, whose shares performed the worst last year among the Nordic region's 86 financial companies, became the first…

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