Analyst predicts 150-200 more bank failures!
NEW YORK - August 24, 2009 - A prominent banking analyst said Sunday that 150 to 200 more U.S. banks will fail in the current banking crisis, and the industry's payments to keep the Federal Deposit Insurance Corporation afloat could eat up 25 percent of pretax income in 2010.
Noted economist warns of double-dip Depression!
NEW YORK - August 23, 2009 - Nouriel Roubini, one of the few economists who accurately predicted the magnitude of the world's recent financial troubles, sees a "big risk" of a double-dip Depression, according to an opinion piece posted on the Financial Times website on Sunday.
Seized Texas bank sold to Spanish firm!
WASHINGTON - August 22, 2009 - The federal government is casting more broadly as it seeks buyers for a growing number of failed banks, including entertaining bids from foreign firms and seeking to attract new investors to the industry by easing restrictions.
Arizona's credit rating downgraded to negative!
PHOENIX, Arizona - August 19, 2009 - A credit watch placed on Arizona because of its budget mess is going to cost taxpayers more money.
Standard and Poor's Rating Service on Wednesday revised its outlook of the state's credit from stable to negative. Company analysts said that was based on a variety of factors, ranging from lower than anticipated tax collections to the failure of the Legislature and Governor Jan Brewer to enact a budget for the fiscal year that began July 1.
Standard and Poor's Rating Service on Wednesday revised its outlook of the state's credit from stable to negative. Company analysts said that was based on a variety of factors, ranging from lower than anticipated tax collections to the failure of the Legislature and Governor Jan Brewer to enact a budget for the fiscal year that began July 1.
Frailty lingers in housing and producer price reports!
NEW YORK - August 18, 2009 - New figures showing a decline in wholesale prices and a drop in new-home construction highlighted how weak the economy remains, even as propagandists and optimists declare the Depression to be at an end.
Reader's Digest set to file for bankruptcy!
WASHINGTON - August 18, 2009 - Reader's Digest, an Amerikan media icon of the 20th century, thanks to its inspiring, safe-for-family-reading articles and folksy, cornpone humor, is planning to file for Chapter 11 bankruptcy reorganization.
Unemployment spike compounds foreclosure crisis!
WASHINGTON - August 18, 2009 - The country's growing unemployment is overtaking subprime mortgages as the main driver of foreclosures, according to bankers and economists, threatening to send even higher the number of borrowers who will lose their homes and making the foreclosure crisis far more complicated to unwind.
More Articles ...
- Tax bills put pressure on struggling homeowners!
- Resort offers $19 "survivor" package!
- Chinese stocks plunge almost 6 percent!
- Consumers don't share market optimism!
- An avalanche of insider stock selling!
- Consumer bankruptcies may hit 1.4 million by end of year!
- Foreclosures rise substantially over previous month!
- Retail sales dip more than expected while jobless claims rise!
- InterContinental says recovery is years away!
- Soaring deficit very bad news for the economy!
- Bad assets still threaten banks!
- Anti-Obama trinket sales hit new high!
- Federal deficit grew by $181 billion in July!
- Number of food stamp recipients tops 34 million for first time ever!
- Sluggish July sales show tight-fisted consumers!
- Jobless claims continue at record rate!
- Half of all mortgages will be "underwater" within two years!
- General Motors to lay off thousands more!
- GMAC posts wider quarterly loss as loan defaults rise!
- Alabama County makes massive job cuts!
- USPS may close up to 1,000 post offices!
- Extending unemployment benefits creates joblessness!
- Depression worst than prior estimates!
- Weak treasury auctions raise worries about U.S. debt burden!
- U.S. Postal Service struggling for survival!
- Jobless claims rise more than expected!
- Verizon to cut 8,000 employee jobs!
- Actual unemployment rate hits a 68-year high!
- British economic collapse rivals Great Depression!
- Commercial mortgage delinquency up 585 percent!
- CIT bankruptcy filing may follow August debt swap!
- New U.S. weekly jobless claims jump!
- Profits fall at eBay as Depression hits online businesses!
- Continental Airlines cuts 1,700 jobs!
- Economist predicts Depression will continue!
- White House delays report to avoid admission of bleak economic outlook!
- Commercial mortgage failure rate at 20-year high!
- Retailers predict years of economic gloom!
- Two more Kalifornia banks closed by FDIC!
- CIT group closer to bankruptcy as U.S. denies aid!
- Foreclosure rate continues to rise!
- Big broadcaster Sinclair in dire straits!
- Obama says unemployment rate will keep rising!
- Options dwindle for cashing Kalifornia IOUs!
- Budget deficit tops $1 trillion for first time ever!
- French workers threaten to blow up car parts factory!
- Number of factory jobs continues to shrink!
- Major lender considering bankruptcy!
- Unemployment continues at record pace!
- FDIC gearing up for large number of bank closures!
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