Just two FDIC seizures this evening. Here are the links: Security Savings Bank, Henderson, Nevada Heritage Community Bank, Glenwood, Illinois There will be more to come.
Archive for February, 2009
From the WSJ Real Time Economics blog, here are some comments on the revision to fourth quarter GDP: The surprise was a bigger than anticipated downward revision to consumption. Based on the retail sales figures, we had expected a marginal downward adjustment, but the revision was substantial, to a disastrous -4.3% from -3.5%. According to [...]
The concept of nationalization has been tossed around pretty loosely over the past few weeks. Usually it’s been discussed in the context of some sort of scheme to take over some of the failing big banks and reconstitute them for eventual return to private ownership. Not even the left of center authors that I’ve read have [...]
I wonder sometimes if we would be better off without the Internet, CNBC and all the other instant news sources that pound the latest bad news into our conciousness almost as it happens. Maybe all of this was easier to cope with during the Depression when it came at people in less of a rush. [...]
As you consider the new budget remember this. The point is that what the government gives it must first take away. John S. Coleman
If ever there was a sell signal this is it. The CEO of the homebuilder Ryland Group, Inc. is retiring and this is what he decided to do with his rather outsized retirement package. Home builder Ryland GroupInc. will pay its departing chief executive, R. Chad Dreier, at least $27 million as part of a retirement [...]
James Kwak has an excellent post up on The Baseline Scenario about the government’s Capital Assistance Program. His contention is that Treasury structured its convertible preferred stock investment backwards. To summarize his position, he argues that the government gave the banks the right to put common shares to the government by forcing conversion of the [...]