Archive for September, 2009

Bank Construction Loan Problems Are Getting Worse

Here’s an update on part of the commercial real estate sector’s loans from Floyd Norris at the NYT. He delves into the growing problems with construction loans. Reports filed by banks with the Federal Deposit Insurance Corporation indicate that at the end of June about one-sixth of all construction loans were in trouble. With more than […]

Taylor Bean & Whitaker’s Illinois Bank Seized

Remember Taylor, Bean & Whitaker, the Ocala, Florida mortgage bank that crashed spectacularly last week and was heavily involved with failed Colonial Bank of Birmingham, Alabama? Well they’re not done yet wreaking havoc. It turns out that Platinum Bank located in Rolling Hills, Illinois was owned by TBW. Platinum Bank was seized by the FDIC […]

Political Quotes Of The Week

From, here’s the link to the political one-liners of the week and a couple of samples. “Who let the Blue Dogs out?” -A chyron on “Hardball”. “That is the voice of God because its the voice of truth and experience.” – MSNBC’s Chris Matthews, reacting to a Bill Clinton speech. Remember last week when I […]

Friday Failures

Five is the count for today. Not bad for the beginning of a holiday weekend. Here are the links: First State Bank, Flagstaff, Arizona Platinum Community Bank, Rolling Meadows, Illinois Vantus Bank, Sioux City, Iowa InBank, Oak Forest, Illinois First Bank of Kansas City, Kansas City, Missouri Just a bunch of small banks in the […]

Private Sector Job Growth Negative For The Last Ten Years

BusinessWeek’s economist, Michael Mandel, continues with his discussion of private sector job growth for the last ten years. The bad news? A month or so ago it was trending towards zero. Today it managed to get there. That’s right, for the past ten years we have lost more jobs in the private sector than were […]

Is FHA The Next Disaster?

The Wall Street Journal article about FHA’s declining reserve problem sparked a lot of comment today. The Journal said that FHA was in danger of falling below their 2% reserve requirement and FHA said that wasn’t the case at all. From the Journal: In the past two years, the number of loans insured by the […]

Geithner’s Plan For Bank Regulation

Among the problems that crop up with the innumerable proposals for reregulating the banks on the blogosphere and in the MSM is that they too often ignore the political realities that have to be factored into any workable plan. Not that many don’t have merit, just that they are practically impossible. The administration and Treasury […]