Here’s a stat that doesn’t get a ton of attention but continues to increase… From the AFP: WASHINGTON — The number of failed regional US banks exceeded 100, after authorities announced the collapse of seven more financial institutions around the country. A total of 106 regional banks failed in the United States this year, a…
FDIC
More Hot Links: I Hate Cupcakes
More Hot Links for Weekend Reading… My fave site Abnormal Returns turned 4 years old this weekend. Happy Blogiversary! (AbnormalReturns) Thank goodness for our private equity/ i-banking industry for deals like these. Disgraceful. (ZeroHedge) John Crudele: One Trillion Reasons to Avoid a New Stimulus Plan. (NYP) Eddy Elfenbein challenges David Rosenberg‘s “market is extremely overvalued”…
Hot Links: Bizarro FDIC
Stuff I’m Reading this Morning… Dollar down, stocks and commodities _____? Yeah, yeah, you know the rest. (Bloomberg) Story of the Day: Bizarro FDIC to borrow money from…The Banks! (NYT) This was fascinating: World economies and where we are on the productivity curve. (Clusterstock) Maryland is the most moneymaking state in the US. (CNNMoney) John…
FDIC IOU's? Not Quite Yet…
If you lost track of what’s happening with the FDIC, one of the few competent bank-related regulatory institutions we have left, they’ve overseen the failure of about 84 banks so far in 2009. The FDIC had a fund to insure these banks’ depositors of about $53 billion a year ago, which had dropped to only…
What's that, Lassie? Vikram Pandit's in Danger? Again?
Everyone’s got their “Sheila Bair of the FDIC wants Citigroup’s Vikram Pandit Fired” thing up on their sites today. I beg to differ with most…Vikram Pandit Will Survive: ______________________________________________________ From the archives: February 26th 2009 [youtube=http://www.youtube.com/watch?v=ZBR2G-iI3-I] At first I was afraid I was petrified Kept thinking they would never let Our credit ratings slide but…
Market Recap: Sunshine Day for Sears
[youtube= http://www.youtube.com/watch?v=c6wTY37EvQI] The Reformed Broker, AKA Sam the Butcher, here with today’s Market Recap… Holders of Sears Holdings (SHLD) can celebrate like the Brady’s today in the above video: “Put on your Sunday best kids, we’re going to Sears!” – Mike Brady The retailer without a purpose came out this morning with an unexpected profit, albeit one…
Goodbye Bill Seidman
[youtube=http://www.youtube.com/watch?v=_91pCe2jgHU] Bill Seidman passed away yesterday. Rather than attempt to write up an obit without any new details of the man’s extraordinary career or service to his country, I thought I’d show you how good and sharp he was as a market commentator. The above video shows Bill Seidman doing what he did best…being insightful…
Market Recap: All Swine Flu, All The Time!
[vodpod id=ExternalVideo.816076&w=425&h=350&fv=] The Reformed Broker, AKA Daddy Long Legs, here with today’s Market Recap… It’s Monday, so that can only mean one thing…Yes, that’s right! A new restructuring plan for General Motors (GM)! Maybe this, the third since January, will stick. And BTW, they’re blowing out the Pontiac brand, which is a shame. The action today was…
