June 2009

This is number 40 (earlier the headline read First National Bank of Kansas, but has since been corrected). First National Bank of Anthony, Anthony, Kansas was closed today by the Office of the Comptroller of the Currency, which appointed…

Here are the press releases (emphasis added). This makes 39 institutions this year. First, Cooperative: Cooperative Bank, Wilmington, North Carolina was closed today by the North Carolina Office of Commissioner of Banks, which appointed…

Here’s a good segment from CNBC with an interview from two city mayors, the mayor of El Centro, CA that has 26.9% unemployment, the highest in the nation, and the mayor of Flint, MI, which is imploding due to the decline in the U.S. car…

During the Great Depression, it was the Smoot-Hawley Tariff Act, which in hindsight is blamed for triggering a wave of protectionist actions globally.  Protectionism was a major contributor to the downward spiral that created depression. …

Note from 15 Sep 2010: On the second anniversary of the Lehman bankruptcy, it bears noting that the sway government has over the banking sector has diminished. The Big Bank CEO Phil has done the prudent thing regarding lending standards.…

After Pilot Dies, Jet Lands Safely in Newark - NY Times EU sets basis for finance reform - BBC News "EU ministers have agreed in principle on a framework for enhanced oversight of the financial sector, with the UK winning…

A recent poll which ended on Wednesday as to when the economy will recover yielded the results below: Clearly, you think this downturn has legs! Please feel free to ping us with other important questions we should be asking…

A lot of links coming. So I will some now and others tomorrow. Retail sales plunged in April, led by motors - Irish Independent This is a depression-style fall: 17%. Outsider in the world of economics takes a dim view of…

The Federal Reserve Bank of Philadelphia is out with a widely followed Business Outlook Survey for June.  The numbers are very good. Declines in the region's manufacturing sector were much less in evidence in June, according to…

This video of US Bancorp CEO Richard Davis on CNBC is good in getting to the motivations and thinking of bank CEOs now repaying TARP monies.  Davis sounds articulate, well-prepped and diplomatic and makes a lot of sense.  You couldn’t ask…