Tag Archives: bank
ATM = NO 2 CA IOU
Software (someonewithoverlyrestrictiverightssettings@flickr): Hardware (alicegop@flickr):
Posted in finance, government, money, standards, trend Also tagged ATM, California, crisis, IOU Leave a comment
Unreal estate
A klein bottle: “From the archives: how to fix a liquidity crisis (13 Dec ‘07)”—that is, in 2007—quoted the FT as saying: The latest Fed flow of funds data shows that FHLBs [Federal Home Loan Banks, "a little-known network of government-sponsored bank co-operatives founded during the Great Depression"] issued new loans at an unprecedented annualised [...]
Posted in economics, finance, government, trend Also tagged bankrupt, crisis, mortgage, real estate Leave a comment
BMOTD [bon mot of the day]
Dean Baker: This raises the obvious question, if the banks are in such good shape, why not take away the training wheels and let them fend for themselves in the market? Training wheels.
Fundamentally un-American
Douglas Leech, founder and CEO of Centra Bank, a WV bank that took money from the gubmint then returned it when the gubmint imposed new conditions: “What they did is wrong and fundamentally un-American,” he said. “Even though the government told us to take this money to increase our lending, the extra charge meant we [...]
Self-inflating flotation device
Doug Henwood: (By the way, the buzz is that some banks may participate in the bailout scheme, borrowing money from the gov to buy their own bad assets at ridiculously inflated prices. That renders them technically solvent, with Washington holding the bag. Nice.) Gangster.
Prediction
Soros: “We witnessed the collapse of the financial system. It was placed on life support, and it’s still on life support. There’s no sign that we are anywhere near a bottom.” What do you will we get when you cross “bad banks” with countries that are too small to bail out their financial sectors? Bad [...]
SOTD
Fareed Zakaria in Newsweek (“Worthwhile Canadian Initiative,” 7 Feb ’09): Canadian banks are typically leveraged at 18 to 1—compared with U.S. banks at 26 to 1 and European banks at a frightening 61 to 1. (drum)
Those who forget that journalism is the first draft of history are doomed to do something or other
Alloway, “Spot of Swiss,” FT (12 Nov ’08): They’ve no doubt sorted this out in the last eighty days. See also: “Swiss miss.”
“Commercial jingle mail”