Archive for August 24th, 2009

Obama To Reappoint Bernanke

For all of the pixels that have been spilled over it, the announcement that Obama will reappoint Bernanke to another term as Chairman of the Fed seems sort of anticlimactic. According to the WSJ, Chief of Staff Rahm Emanuel announced that the President will make it official on Tuesday. Now, the ball will be in […]

Whalen And Bove On Banks

Chris Whalen and Dick Bove on CNBC today talking about banks. Worth a look.

Banks And Their Real Estate Exposure

The Big Picture has a great list of banks ranked by commercial real estate loans. What makes it particularly useful is that it also contains a column with total loans and leases so you get a better picture of each bank’s relative exposure. It’s pretty sobering. The top thirty or so banks, with a couple […]

Taylor, Bean & Whitaker Files For Chapter ll

It’s probably worthy of note that Taylor, Bean & Whitaker, the large Florida mortgage bank, has in the span of three weeks, closed its mortgage business, been kicked out the door by FHA and today filed for Chapter ll. I have no idea why they filed an eleven as opposed to a seven, other than […]

Another View On The “W” Economy

Continuing on with Roubini’s suggestion that we may be in for a “W-shaped” recovery. Here are some comments via The Big Picture from Andy Xie, former Morgan Stanley economist. His thoughts are from a Chinese perspective and use the current rebound in their stock market as a jumping off point. You should note that this […]

Cure Rates On Prime Loans Drops Ominously

This is a pretty important bit of information from HousingWire. A slower cure rate among delinquent loans erased improvements in the number of loans rolling into delinquency status among US residential mortgage-backed securities (RMBS), according to Fitch Ratings. Cure rates decrease as fewer delinquent loans return to current payment status each months. The prime cure rate […]

Dealing With Bank Failures

The last few days have seen two well known bank analysts, Meredith Whitney and Dick Bove, going out on a limb and predicting a lot more bank failures. Neither were exactly risking their careers with these predictions. Bove thinks 150 to 200 banks will fail during the cycle in addition to those that have already […]