Archive for January 23rd, 2009

Quote Of The Day

There will be sex after death; we just won’t be able to feel it.                                              Lily Tomlin

Friday Failure

The feds seized 1st Centennial Bank, a California bank, this afternoon. That’s three so far this year. Here are the details from the WSJ: The regulator said 1st Centennial Bank was closed Friday by the California Department of Financial Institutions. The department appointed the FDIC as receiver of the Redlands lender. The closing was the third […]

Cram-Downs And Unintended Consequences

Housing Wire has a good, quick read on the unintended consequences of the proposed legislation to allow cram-downs of residential mortgage debt via the bankruptcy statutes. To be fair, here is one good result and one bad one. Good Analysts at Bank of America , while suggesting on Jan. 13 that such provisions would likely […]

Krugman Picks Another Fight

I noted a couple of days ago in a post that spats between economists made for pretty dull entertainment. That doesn’t seem to have stopped Paul Krugman from going after another one of his brethren. For a guy who’s been turning over nothing but aces the past few months, I don’t quite understand why Krugman […]

Bank Nationalization: The Never Ending Debate

The debate rages-to nationalize or not. Early in the week the nationalization crowd seemed to be carrying the day but the cons have fought back. High on their lists of reasons not to go to government ownership is the contention that doing so would scare new investors away from banks and once you start where […]