Monthly Archives: August 2009

The FDIC took over the following failed banks over the weekend of August 28, 2009, bringing the year’s total to 84. Affinity Bank, Ventura, CAMainstreet Bank, Forest Lake, MNBradford Bank, Baltimore, MD Number of Failures broken down by month: January … Continue reading →

Steve Kroft On Credit Default Swaps And Their Central Role In The Unfolding Economic Crisis Anyone with more than a casual interest in why their 401(k) has tanked over the past year knows that it’s because of the global credit … Continue reading →

By Damian Paletta and Michael R. Crittenden WASHINGTON – The government insurance fund that protects more than $4.5 trillion in U.S. bank deposits fell to just $10.4 billion at the end of June, as the banking industry continues to struggle … Continue reading →

By Joanna Chung in Washington and Francesco Guerrera in Pittsburgh August 27 2009 20:38 The number of US banks at risk of failure is at a 15-year-high while the fund protecting depositors is at its lowest level since 1993, according … Continue reading →

Estimated 2009 Budget Deficit Seen Falling by $262 Billion By Deborah Solomon WASHINGTON — The Obama administration shaved $262 billion from its estimated 2009 federal budget deficit but said the U.S. will run a $9 trillion deficit over the next … Continue reading →

Rochdale Securities analyst Bove says 150-200 more US bank failures possible in current crisis Monday August 24, 2009, 1:27 pm EDT CHARLOTTE, N.C. (AP) — Banking equities analyst Richard Bove said Sunday that it’s possible 150 to 200 more U.S. … Continue reading →

The FDIC took over the following failed banks on August 21, 2009, bringing the year’s total to 81. Guaranty Bank, Austin, TXCapital South Bank, Birmingham, ALFirst Coweta Bank, Newnan, GAebank, Atlanta, GA Number of Failures broken down by month: January … Continue reading →

Fri Aug 21, 2009 7:34pm BST NEW YORK, Aug 21 (Reuters) – Gold futures rose toward $960an ounce on Friday, gaining more than 1 percent as the dollarslumped against the euro, boosting the metal’s appeal as ahedge against the falling … Continue reading →

By Shiyin Chen Aug. 21 (Bloomberg) — The dollar’s role as a good store of value is “questionable” and the currency has a high degree of risk, said Nobel Prize-winning economist Joseph Stiglitz. “There is a need for a global … Continue reading →

By Garfield Reynolds and Wes Goodman Aug. 19 (Bloomberg) — Pacific Investment Management Co., the world’s biggest manager of bond funds, said the dollar will weaken as the U.S. pumps “massive” amounts of money into the economy. The dollar will … Continue reading →