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It's Friday! One down already
Doesn't even merit a
FDIC gets started early today with a payout on a bank in Illinois. Small fry but no buyer!
Was this part of the old Home Savings that was the largest S&L in the country back in the 80's? I though WaMu bought them?
That's some serious climbing. Your wife must be in great shape.
She trained for months, and her rear end was NOT ready for it . . . the hot spings in Glenwwod Springs came in handy.
I am planning on doing 4600 feet of climbing on my ride tomorrow so yes I agree with your statement.
My wife rode the Copper Triangle last year, and then followed it up on a ride that climbed 5 mountain passes in Colorado with a 4,000+ of elevation each day. She was most scared on the ride down from Independence Pass to Aspen on CO 82.
And it was a payout - no one wanted to buy this pile of shit - been awhile since we had one of those
Early start for BFF, with ANOTHER Georgia bank dying.
The bank holding company disclosed that they may be subject to an enforcement action last April when they were selling some stock
At least Tennessee does it right - first failure and it costs the DIF over $400 million
Juvenal Delinquent wrote:
It's a slippery slope-militarism.
As long as your cool with the idea of a police state expanding it's reach, the plan has great promise.
My daughter is a math and chemisty major and is about to receive her commisison in the Army reserves, so let's just say I disagree strongly with your position. The members of her OCS class that I have met would be excellent teachers - all with college degrees, many with real world employment experience, and strong leadership skills.
We're gonna have dogface g.i.'s taking over teaching positions?
I think it is a great idea to have military officers move into teaching - they have college degrees, officer's training is highly competitive and the weak candidates wash out, and they spend most of their professional lives teaching and leading young men and women.
Happy Thanksgiving all. Are we going to have to wear the Dow 11,000 hats later this week?
The next big bailout | The Daily Caller
Add, the Postal Service and Chrysler (again) to the list - Saw estimated losses on the auto bailout shot up, due to the depressed stock price of GM
Speaking of, exactly who is buying the (seemingly overpriced) farmland?
Pension funds and insurance companies
"Another ongoing drag has been state and local government cutbacks. This year, state and local governments have cut 232,000 payroll jobs (about 23 thousand per month). "
Self-inflicted wounds by the government agencies and employees having demanded/offered unsustainable wages and benefits packages, and the refusal of the unions to share some of the pain by small rollbacks in wages and benefits. Given that there are almost 17,000,000 persons employed by federal, state and local governments based on 2010 Census data, the cutbacks were a miniscule 1.3% of total employment, and even all of that could have been avoided by some shared pain.
Feckless Ness wrote:
The U.S. was joke fodder all over the world for electing GWB. Elect Rick Perry and the world dies laughing.
Maybe, but better than the impression of the One in the eyes of foreign leaders.
Lobbyist Ben Dover wrote:
NE folks are all up in arms. They don't even know how the aquifer works.
Much less that there are about 100 oil wells and multiple pipelines already located on the aquifer.
judging by the bewildered expression on his face
I think the expression was a "Oh not again" look
volker the viking wrote:
let's all agree not to say anything more about Rick Perry's memory lapse from last nights debate
He really needs one of those teleprompters, like another politician we know.
Missed putting in my predicition - oh well, Happy Vet's Day anyway.
And guess what - another GA bank!
Damn - since tomorrow is Veterans Day, the FDIC is holding BFF on Thursday - one down already.
Part time, temp, no benefits, lower wages . . .
Glad to see subprime auto lending and student loans are growing - no bubbles there! Credit card lending dropping siginficantly (again): Fed: U.S. Consumer Credit Rose $7.4B in Sept. - Bloomberg
Each mile you live from work costs $795 in commuting expenses per year
I need to move my office closer to home . . . nicer office space in the burbs than housing in downtown
According to BPP, CPI at the end of September was just under 4%.
Parents buying peanut butter for their kids sandwiches are going to see 30%+ increases in the price of peanut butter this month due to a poor harvest. Hey, but the prices of iPads are steady!
Comparing their November predictions to their January predictions, they need to find a better ouija board.
Keep the long end of the curve low Ben - great job!: pension-woes-complicating-retirement-reuters: Personal Finance News from Yahoo! Finance
I'd expect sentiment to increase over the next couple of months
Not if they include recent grads with student loan debt in their survey. From talks with the kids' friends, if they have jobs, a big chunk of their wages will be going to pay back the student loans - some are moving back in with family to cut costs - no need to furnish apartments. Back when my niece and nephew graduated from college seven years ago, they bought their first house within 18 months of graduation (and refinanced every year to extract the equity).
As banks in the U.S. are forced to raise more capital in the next two years, given the recent dive in their stock prices, they, like European banks, will elect to shed assets, instead of selling stock, to meet the higher capital requirements. Consumer and business lending will be cut significantly from already depressed levels. Let's see what the retail sales figures look like then.
With all the new lawyers and doctors joining their firms/starting their residencies this past month, I was surprised about how low the increase was in professional employment - most of the law firms are hiring about half the number of new lawyers they did a few years ago.
The Dallas Fed Manufacturing Index "unexpectedly" came in lower than experts estimated today
I have heard that the FDIC has tried repeatedly to find buyers for a few banks on the PBL, but there are no takers. Banks are awash in deposits and really do not need more. Most banks on the list are small one or two branch banks so they do not have franchise value. Plus, they have serious issues and buyers really do not want to spend the time and money to nurse them back to health, even with a loss share. Some of the TBTF banks that are looking to shed branches and releated deposits are likely to find more bidders, as they can leave any crap loans with the seller
Thank Senator Durbin . . . .
Do I need to find my 10K hat by tomorrow afternoon?
423,000 (with of course an upward revision of last week's claims)
Tommy Vu wrote:
there goes consumer confidence,
Boehner is not very good at counting noses - this is the second time he came up short on passing a CR.
I see the House failed to pass the CR to fund the government through November 19th and they are not in session next week - high drama on a shutdown starts again.
At this point this is Fannie and Freddie and whatever few pension funds still brave enough to swim around in that muck.
Replay the S&L crisis . . .
Dirk van Dijk wrote:
They could if they want shift over to high dividend paying stocks with solid balance sheets.
I think most were in CDs - not sure about the stock market with days like today - would probably cause a number of seniors to have a heart attack or sell and put the money under the matress
How many seniors are going to be ending up on the streets or moving back in with their kids since their home equity is destroyed and what savings they have is not earning a plug nickel. Thanks Ben (and Alan)!
I just posted a prediction: Bank Failure Friday Prediction for Sept. 23, 2011
Do Euro-bank failures count
At the rate of stories about businesses pulling deposits from Euro-banks, Timmy and Ben better get ready to TARP all the Euro-banks
At the same time, the DOE is rushing to approve another $9 billion in loan guarantees to green energy companies before the funds go away on 9/30 - that $9 billion should be going to FEMA and the Corps of Engineers for disaster relief and levee repairs. Priorities!
"This is the argument I've been making - that the sharp decline in confidence might have been event driven and confidence could bounce back in a couple of months "
Uh, CR, September 30 is the end of the fiscal year and the Senate has not voted on any budget bills yet (or for that matter, the past three years) - more fun to come
Interesting alert I just received:
Cyber Division has received reporting on protests planned for 09/17/2011. “Operation Occupy Wall
Street” is scheduled to occur on 09/17/2011 wherein protestors will set up tents and barricades in an
effort to occupy Wall Street for two months in protest of the corrupt influence Wall Street exudes over
the US government and its citizens. “Day of Rage” is a separate non-violent civil disobedience campaign
initiated by anarchists to encourage events in New York (primarily in support of Operation Occupy Wall
Street), San Francisco, Los Angeles, Madison, Wisconsin, and other cities around the world such as
Tokyo, London, Frankfurt, Madrid, Sydney, and Toronto.
Based on reporting, Anonymous’ new #RefRef tool is scheduled to be released on 09/17/2011 at 7:00
AM EST in conjunction with the Day of Rage. Per reporting, the #RefRef tool may be used to target
the FBI and related websites. A previous version of the #RefRef tool, which exploited vulnerabilities
in MySQL database servers to knock a web site offline, was mitigated by a recent MySQL patch. The
capabilities and attack vector of the new #RefRef tool are unknown to Cyber as this time. However,
Cyber will pass along any relevant intelligence as we receive it.
Call on somebody like Caterpillar or GE - makes DMV look positively speedy and efficient.
Try negotiating a contract with businesses (a/k/a government owned enterprises) in the Middle East or parts of Asia - more than a year long experience in some cases
Is it true or not?
With all the unemployed and soon to be unemployed banksters on Wall Street, Bloomie may have real problems on his hands
Mayor Bloomberg is playing with fire and should have not said that.
time to buy a and learn how to use it?