Category: Banking Institutions
By Larry Doyle on Aug 28, 2009 in American Consumers, Bank Failure, Banking Institutions, Banks, Economy, Sense on Cents (Larry Doyle blog) | 21 Comments
Will the failure of a small bank in a small community truly impact America? Analysts discount the impact that the expected massive number of bank failures will have on the U.S. economy.
Additionally, analysts also discount the fact that the FDIC fund to cover depositors of failed institutions is close to zero. This fund can be [...]
By Larry Doyle on Jul 9, 2009 in Banking Institutions, Banks, Credit Card Companies, Economy, Sense on Cents (Larry Doyle blog) | 21 Comments
Is there truly any reason to trust financial institutions these days?
Developments within the credit card space have exposed the true colors of these institutions . . . not that there was ever any doubt. Recall how consumer outrage at rapidly rising interest rates on credit cards pressured Washington to rein in the usurious business practices [...]
By Larry Doyle on Jun 26, 2009 in Banking Institutions, Ben Bernanke, Economy, Hank Paulson, Sense on Cents (Larry Doyle blog) | 9 Comments
I commend Rep. Edolphus Towns (D-NY), Chairman of the House Committee on Oversight and Government Reform. Rep. Town’s closing statement at yesterday’s Congressional hearing culminated some riveting theatre. That said, this is not a one act play. Rep. Towns highlights the need to dig deeper in exposing what truly happened in the midst of the [...]
By Larry Doyle on Jun 25, 2009 in Banking Institutions, Ben Bernanke, Economy, FDIC, Sense on Cents (Larry Doyle blog) | 10 Comments
Do the ends ever justify the means? Does being well-intended preclude one from committing a criminal act? If our legislative bodies do not possess the heart and courage to ask these difficult questions, can we assume they are implicitly approving them? Oh, what a tangled web trillions of dollars in financial losses will weave.
The intrigue [...]
By Rabble Rouser Reverend Amy on May 7, 2009 in Backtrack Obama, Bailouts, Bamboozling, Banking Institutions, Barack Obama, Campaign promises, Campaigns & Campaign Financing, Current Affairs, Flip Flopping, Hoodwinking, Israel, Messiah, Political Correctness, Qualifications, SusanUnPC, Wall Street | 42 Comments
Talk about your marketing ploy, which I, along with others, have been doing for a while now (most recently, “The Campaign’s Over, Obama: It’s Time To Lead“). But the incomparable Chris Hedges has done a remarkable job at highlighting just exactly how true that is (and it is true - his campaign won the [...]
By Larry Doyle on Apr 28, 2009 in American Consumers, Banking Institutions, Current Affairs, Economy | 21 Comments
Can you imagine putting money into a bank and agreeing to accept a minus 5% rate of interest? Well, the Federal Reserve believes the appropriate rate of interest for this economy is in fact -5%. The FT reports, “Fed Study Puts Ideal U.S. Interest Rate at -5%.”
The world is awash in a sea of debt. [...]
By Uppity Woman on Apr 25, 2009 in American Consumers, Banking Institutions, Credit Card Companies, Larry Summers, President Barack Obama | 47 Comments
Pretty much everyone you know has already been gouged by credit card companies while the Band Played On.
Congress said nothing, the President said nothing. Nobody stopped every major credit card company in the USA from screwing with everyone’s credit scores by cranking up their interest rates in mid-stream and offering customers no options other than [...]
By Larry Doyle on Apr 23, 2009 in Banking Institutions, Economy, Sense on Cents (Larry Doyle blog) | 18 Comments
When Ken Lewis, CEO of Bank of America, purchased Merrill Lynch last Fall did he put country first but his shareholders’ interests second? The WSJ Reports Lewis Testifies U.S. Urged Silence on Deal.
The BofA purchase of Merrill did not feel “right” to me from the outset. Why? Recall that at the time of this deal, [...]
By Larry Doyle on Apr 21, 2009 in Bailouts, Bank Stress Test, Banking Institutions, Economy, TARP, Wall Street | 12 Comments
Last evening on NQR’s Sense on Cents with LD, I proposed that the Obama administration would not release individual results of the Bank Stress Tests. I further added that I thought the administration may encourage stronger banking institutions to channel funds to weaker institutions. In so doing, these stronger banks - such as JP Morgan [...]
By Larry Doyle on Apr 19, 2009 in Banking Institutions, Economy, FASB, Sense on Cents (Larry Doyle blog) | 10 Comments
In reviewing bank earnings this week, I truly get the sense with a number of institutions that they determine just how much they want or need to outperform analyst expectations and then they figure out how to “manage” the books in order to get there.
This “managed earnings” process can be played for an extended period, [...]
By John Batchelor on Apr 16, 2009 in American Consumers, Banking Institutions, Economy, Housing & Housing Crisis, Real Estate | 11 Comments
Calculated Risk’s choice California Jim the Realtor posts today a surprising positive indication in Chula Vista, California.
By Larry Doyle on Apr 12, 2009 in American Consumers, Banking Institutions, Current Affairs, Economy, Open Thread, Sense on Cents (Larry Doyle blog), Wall Street | 1 Comment
BUMPED DOWN . PROGRAM CONCUDED . LISTEN to ARCHIVED SHOW!
(Editor’s Note: Paulie Abeles is taking Monday night, April 13th, off to be with family.)
Please join me Sunday evening from 8-9 p.m. ET for NoQuarter Radio’s Sense on Cents with Larry Doyle. What is truly going on in the economy? Where are markets headed? The [...]
By Larry Doyle on Apr 11, 2009 in Bank Stress Test, Banking Institutions, Current Affairs, Economy, Sense on Cents (Larry Doyle blog), U.S. Treasury | 15 Comments
The movie Goodfellas provides a wealth of material for comparative analysis of the markets. The “insider activity,” the “fooling around,” “the payoffs,” and “the gambling” all make for great drama on the screen. Truth be told, one does not have to look all that hard to find striking similarities to certain activities in the world [...]
By Larry Doyle on Apr 11, 2009 in American Consumers, Banking Institutions, Current Affairs, Economy, Equity Markets, Sense on Cents (Larry Doyle blog), Wall Street | 2 Comments
PROGRAM CONCLUDED . POST BUMPED DOWN . LISTEN to the ARCHIVED SHOW!
(Editor’s Note: Paulie Abeles is taking Monday night, April 13th, off to be with family.)
Join me from 8:00 to 9:00 p.m. ET on NoQuarter Radio for Sense on Cents with Larry Doyle. These are truly historic times in the global economy. Let’s “navigate the [...]
By Larry Doyle on Apr 10, 2009 in American Consumers, Bank Bailouts, Bank Failure, Banking Institutions, Congress (House & Senate), Current Affairs, Economic Stimulus, Economy, Obama Administration, Sense on Cents (Larry Doyle blog), Wall Street | 10 Comments
Any investor or manager with a degree of experience knows that the “first loss is the best loss.” What do I mean by that? Once the market detects a loss or a weakened position, the price for that asset will remain capped unless and until the asset is sold or liquidated. This price action [...]
By John Batchelor on Apr 9, 2009 in American Consumers, Banking Institutions, Current Affairs, Economic Stimulus, Economy, International Monetary Fund, Tim Geithner, treasury department | 7 Comments
Editor’s UPDATE: Below the fold, there’s a pithy, explanatory description of what the T.A.R.P. oversight panel (Chair Elizabeth Warren et al.) concluded in its worrisome report on Treasury’s handling (or not) of the economy’s downturn.
John Batchelor: From my blog. Don’t miss Larry Johnson on my show Sunday nights. Watch for NoQuarter’s promo on Sundays.
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By John Batchelor on Apr 9, 2009 in Banking Institutions, Economic Stimulus, Economy, TARP | 8 Comments
Batchelor & Constable: Through the Looking Glass.
Simon Constable and I make no sense of the senseless news from the worldwide financial crisis — the Great Depression in Denial. From banks buying each other’s junk competitively to a bullish call by hedgies and funds guys meeting in a super secret location west [...]
By Larry Doyle on Apr 8, 2009 in American Consumers, Bank Bailouts, Banking Institutions, Economy, FASB, Mortgage Crisis, Sense on Cents (Larry Doyle blog), Toxic Assets, Wall Street | 12 Comments
In thinking about the economy, markets, and our banking system, my memory brings me back to my early days in New York. While working my way along 8th Avenue back to my apartment in Hell’s Kitchen, I would happen upon numerous versions of the classic NYC “hustle.” The shell game (also 3 card monte) was [...]
By John Batchelor on Apr 7, 2009 in American Consumers, Banking Institutions, Economic Stimulus, Economy, Tim Geithner, Toxic Assets, treasury department | 2 Comments
From the John Batchelor Show blog. Susan’s Note:I can’t state enough how important it is to read this article.
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Pirate Bankers Rising.
Francesco Guerrera, FT, reported to my financial roundtable on the show, Sunday 5, that the bankers are preparing to game the junk assets on their books. Here is the part of the scheme that [...]
By Larry Doyle on Apr 6, 2009 in Bank Bailouts, Banking Institutions, Economy, Sense on Cents (Larry Doyle blog) | 16 Comments
A few loyal readers have graciously shared video clips of interviews with former banking regulator, William K. Black. These interviews address the fact that a tremendous amount of mortgage originations at the core of our current economic turmoil were fraudulently underwritten. The borrowers were never qualified only then to fall upon hard times. [...]
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