Archive for May 22nd, 2009

Friday Failures

I thought that perhaps the FDIC had purged its seizure fever with the big take-down of Bank United yesterday. After all it is a holiday weekend. But evidently they never rest. Two Illinois banks were taken over this evening. Here are the links: Strategic Capital Bank, Champaign, Illinois Citizens Nationa Bank, Macomb, Illinois

China And Electricity Usage

I’m beginning to sound like a broken record on the subject of growth in China’s economy, so I promise this will be the last I write about it. Unless, of course, I find something really compelling. John Gould at the Atlantic takes up the same meme I’ve been pounding on — the growth numbers are hard […]

Should We Profit From The Banking Crisis?

Bloomberg is out with an article that suggests the government is being overly generous with the prices it’s accepting for the warrants attached to the TARP money that was advanced to the banks. Only two banks of the seventeen that have repaid TARP money have settled up on the warrants but Bloomberg contends that the […]

GMAC Says Government Will Own Them For Some Time

It appears as if the government is in for the long haul with its investment in GMAC. In a filing with the SEC, GMAC said it could take up to 17 years for the government to divest itself of an up to 70% interest in the company. From Reuters: In a U.S. Securities and Exchange […]

HomeSaver Advance: One Bad Loan Modification Idea

About a year ago one of the dodgier ideas for helping homeowners cope with their mortgages was rolled out by Fannie. It was called the HomeSaver Advance (Ya gotta love the names they come up with). It’s turned out to be an unmitigated disaster. The program extended unsecured loans to homeowners who were having trouble […]