How Hot Money Is Wrecking the US Banking System
from Money Morning, my usual "What the hell is wrong with our government, the sky is falling" web site
[Editor's Note: The Federal Deposit Insurance Corp. insurance fund that protects your deposits is $20.9 billion in the red. One of every 11 U.S. banks is in trouble. And it's going to get worse. Neither the FDIC, [...]
Plans to Hide Commercial Real Estate Losses Won’t Avert a Double-Dip Downturn
*** REPRINT ***
By Shah Gilani, Contributing Editor, Money Morning
Sooner or later, mounting losses on commercial real estate could crash through the market's 2009 optimism and send the economy and stocks into a double-dip downturn.
The major problem is that lawmakers and regulators are setting up investors into believing that commercial real estate (CRE) losses are being [...]
Warning: This is Not Another Wall Street Conspiracy Theory, These are the Facts
This is an interesting story about the latest financial crisis, aka Mortgage Meltdown, Credit Crisis, the Day the Music Died…
Just last week, the House Committee on Oversight and Government Reform held a hearing on the U.S. Federal Reserve’s decision to directly pay billions of dollars to banks as part of its scheme to bail out [...]
How Wall Street Ruined Main Street
Wall Street’s Stranglehold on the Economy Is Choking Americans
America’s Founding Fathers were afraid of any concentration of power in the republic. They were particularly afraid that banking interests could hijack our fledgling democracy.
And yet today, 234 years later, our Founding Fathers’ worst fears have come true. Wall Street’s stranglehold on the economy threatens our very [...]
Bank Failure Revisited: Washington Mutual
This one hits close to home. I was a WaMu employee for a total of 5 years, finally losing my job as fallout from the WaMu "bank failure" that occurred in late 2008.
This video points out that, quite possibly, WaMu could have survived on its own and implies that perhaps the FDIC wanted JPMorgan Chase [...]
