Archive for June 11th, 2009

Leaving Small Bank Regulation To The States With A Caveat

On Friday evenings I always put up a short post chronicling the banks seized by the FDIC. One constant that kept popping up was the high number of Georgia banks that kept popping up on the list each Friday. I asked several times if anyone knew why there were so many but never got any [...]

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Is The Recession Over For The U.K.?

Is this more than just a shoot? Possibly a branch with a flower bud attached? Business Week says that a respected British think tank has proclaimed the recession over in the U.K. The recession is over, according to one of the nation’s most respected economic think-tanks. The UK’s surprising resilience is confirmed by the National [...]

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Chinese Exports Continue to Decline

China’s export machine still isn’t working. The Telegraph reports that exports from China were down 26.4% last month from the comparable period in 2008. Exports totaled $89 billion and imports came in at $75.4 billion so the company is still running a healthy surplus. Exports were up 0.2% over April while imports were up 4.4%. [...]

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Time Catches Up With California’s Finances

The great California financial meltdown is reportedly getting closer. D-Day is on or about July 28 according to John Chiang, the state’s Controller. From Reuters, here are the grim numbers: California’s government risks a financial “meltdown” within 50 days in light of its weakening May revenues unless Governor Arnold Schwarzenegger and lawmakers quickly plug a [...]

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H1N1: It’s Back

Just when you thought it was safe to take off that mask the World Health Organization steps in and labels the swine flu a pandemic. From the WSJ: The World Health Organization declared an H1N1 flu pandemic Thursday — the first global flu epidemic in 41 years — as infections in the United States, Europe, [...]

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Barney Frank Goes Balistic On CNBC

Barney Frank and Mark Haines go toe-to-toe on CNBC this morning. The good part starts around the 4:50 mark.

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A Roundup Of Economic Data

A fair amount of economic data today that shows absolutely no clear picture of where the economy might be going. Let’s rip through it quickly. Retail sales were up 0.5% in May over April. Most of the increase is attributable to rising gasoline prices. Lots of stimulus money in the form of lower withholding started [...]

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