A couple of Friday failures from the WSJ. First Security Pacific Bank in LA was seized and the deposits sold to Pacific Western Bank. It was a piddling little bank and the loss to the FDIC is supposed to be about $200 million. That amount of money doesn’t get above ground clutter on the radar […]

This has been running around the blogs for the past twelve hours or so and I didn’t pay much attention to it or think it through. China’s Finance Minister, Xie Xuren, had more or less landed in Peru when his country called him home to fix problems at home. Bloomberg’s piece on it suggests he […]

From Jake at EconompicData, here is Barack Obama’s biggest problem

Bloomberg is taking on the Fed. The news service has filed a Freedom of Information Act suit against the New York Fed. Bloomberg had asked for information on the collateral that the bank is accepting from borrowers under its various lending facilities and the Fed told them to take a hike. It is somewhat curious […]

Here’s a quick roundup of some of the bigger stories today, some links and a few thoughts. The employment numbers were expected to be bad and they didn’t disappoint. The unemployment rate jumped up to 6.5% and the number of newly unemployed rose by 240,000 in October. These numbers were a bit less than expected. […]