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Here are the latest FDIC seizures:
First State Bank of Altus, Altus, Oklahoma

Total assets of $103.4 million and deposits of approximately $98.2 million
Estimated cost to the Deposit Insurance Fund (DIF): $25.2 million.

Integrity Bank, Jupiter, Florida

Total assets of $119 million and total deposits of approximately $102 million.
Stonegate Bank paid a premium of 0.20 percent to acquire the [...]

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Sorry for the lack of posts today. I have been travelling. Have a great weekend.
Edward.
Vacancy rate for offices reaches an 18-year high – Independent.ie
CRE is a major problem in Ireland too

HSBC May Post Loss on $15 Billion Bad Loan Provisions – Bloomberg.com
That Household International deal is looking ghastly.

Wall Street banks on state aid pay out [...]

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Down 1.5% was the consensus expectation. But Q1 was revised down to minus 6.4% from 5.5%. The GDP Deflator for Q2 came in at 0.2%, which shows that disinflation risks tipping into deflation still.  The dollar is weaker and the short end of the treasury curve is up massively on these data and revisions.
Also, as [...]

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As U.S. recession bites, Ohio hopes fade for Obama | Politics | Reuters
Yet another piece of bad news for Obama

Obama Ratings Slide Across the Board — Taegan Goddard’s Political Wire
Will this change anytime soon?

Ambassadorships for Sale — Taegan Goddard’s Political Wire
Plus ca change

NewsGator Discontinues Online RSS Reader, Points To Google Reader
Another area for Google dominance

House [...]

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Late last year, I anticipated that the global slowdown would bring China’s GDP growth down to 2%, a level that would make most nations envious but which would have been catastrophic for China.  In the end, robust government stimulus has saved the day, as spending for infrastructure, commodities, and property has soared.  The 8% growth [...]

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The US Department of Labor released data showing that 584,000 people filed initial claims for unemployment insurance this past week.  This is up sharply from the upwardly revised 559,000 last week and 524,000 two weeks ago.  The past two weeks’ data were artificially low due to shifts in auto plant production schedules. Now, the data [...]

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UK house prices have now risen for three months consecutively and four months in five according to statistics released by Nationwide Building Society this morning. The rise for July was a very robust 1.3% month-on-month, which translates into almost 17% on an annualized basis. Clearly, housing is doing very well during this summer selling season.
While [...]

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My RSS Feed is spitting out 25 posts an hour for some reason.  I apologize for the nuisance.  We are working to fix it.

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I am switching the links pattern to a nightly post to accommodate a new automated e-mail newsletter delivery.  Let me know if this works.  Cheers.
Edward
Swimming pools on foreclosed properties could harbor West Nile virus mosquitoes : Scientific American Blog
“If the water is pretty stinky, [mosquitoes] will find it, and they will lay their eggs on [...]

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On Friday, when the BEA reports the initial 2nd quarter GDP numbers, it will do so based on completely revised historical data.  Expect some surprises.
What is coming on July 31st is what is known as benchmark revisions of the national income and product accounts (NIPA).  Last month, along with the final Q1 2009 GDP figures, [...]