Big Texas bank on verge of failure [Guaranty, $13.4B assets] [FDIC only has...
NEW YORK (Fortune) -- Guaranty Bank is hardly a household name. But the Austin, Texas-based thrift's looming failure is shaping up as a big headache for bank supervisors -- not to mention a black eye...
View ArticleFive Banks Fail; 69 Failures So Far In 2009 [FDIC Friday]
Five banks were closed on Friday, according to the Federal Deposit Insurance Corporation, bringing the national total number of bank failures to 69 for 2009.
View ArticleRegulators close 2 banks in Florida [FDIC Friday]
NEW YORK — Regulators on Friday shut down two banks in Florida, bringing to 71 the number of federally insured banks to fail this year under the weight of the weak economy and rising loan losses. The...
View ArticleFDIC to seize Colonial, sell assets to BB&T: report
The Federal Deposit Insurance Corp is taking Colonial BancGroup Inc (CNB.N) into receivership and will sell the struggling lender's branches and deposits to BB&T Corp (BBT.N), Dow Jones said,...
View ArticleWatchdog Faults FDIC On Georgia Bank Failure [FDIC failure to regulate led to...
WASHINGTON (Dow Jones) -- U.S. bank regulators waited too long to address problems at a Duluth, Ga.-based bank that failed last year and could cost the federal deposit insurance fund an estimated $207...
View ArticleReports Say Spanish Bank Will Buy Guaranty Financial Group
A large Spanish bank has won the bidding for Austin-based Guaranty Financial Group, according to the Wall Street Journal and Bloomberg News. Federal regulators who have essentially been running...
View ArticleFDIC Closes ebank
On Friday, August 21, 2009, ebank, Atlanta, GA was closed by the Office of Thrift Supervision, and the Federal Deposit Insurance Corporation (FDIC) was named Receiver. No advance notice is given to the...
View ArticleThe fatal flaw of all democracies
"We just can't afford it!" Not long ago, every American child heard that, at one time or another, in the home in which he or she was raised. "We just can't afford it!" It may have been a new car, or...
View ArticleFDIC Insurance Fund Shrinks to $10.4 Billion [at end of June] [to insure $4.5...
WASHINGTON – The government insurance fund that protects more than $4.5 trillion in U.S. bank deposits fell to just $10.4 billion at the end of June, as the banking industry continues to struggle with...
View ArticleChina alarmed by US money printing [another slap to Obama] [ChiComs quoting...
The US Federal Reserve's policy of printing money to buy Treasury debt threatens to set off a serious decline of the dollar and compel China to redesign its foreign reserve policy, according to a top...
View ArticleCorus, Minn. bank busts bring '09 failures to 91 [FDIC Friday] [failure...
SAN FRANCISCO (MarketWatch) -- Regulators closed Chicago-based Corus Bank N.A. and Woodbury, Minn.-based Brickwell Community Bank on Friday, bringing the number of U.S. bank failures this year to 91...
View ArticleWho's Too Big to Fail? [Federal Reserve, FDIC rebuffing more FOIA requests]
Regulators today won't define 'systemic risk,' unlike 25 years ago. With Congress back in session and the anniversary of the Lehman Brothers failure upon us, the Obama Administration is resuming its...
View ArticleHouse Votes to End Subsidies to Student Loan Firms [consolidates lending in...
The Democratic-led House approved a bill Thursday that would overhaul college lending and spend tens of billions of dollars on student grants, community colleges, school construction and early...
View ArticleFederal Student Loan Defaults Ratchet Up [as the Federal govt. takes over...
Just as the government's grip on the lending business for higher education tightens, the Department of Education is reporting that defaults on taxpayer-backed student loans surged in 2007 at the very...
View ArticleSwedish military bras burst, melt during 'rigorous exercise'
The Swedish armed forces have been hit by a major equipment problem, according to reports. Flimsy military brassieres are unable to stand up to the strains imposed when female Swedish troops perform...
View ArticlePorn surfing rampant at U.S. science foundation
Employee misconduct investigations, often involving workers accessing pornography from their government computers, grew sixfold last year inside the taxpayer-funded foundation that doles out billions...
View ArticleFDIC Fund to Be in Red for Years as Bank Failures Jolt System
The government said the fund that protects consumer bank deposits has fallen into the red and will remain there into 2012, a pointed symbol of how the aftershocks of the financial crisis will...
View ArticleEPA: Senate climate bill would add about $100 a year in energy cost for...
WASHINGTON (AP) — A Senate plan to tackle global warming would add about $100 a year to the energy costs for a typical household, according to an analysis by the Environmental Protection Agency. The...
View ArticleDemocrats to Unveil Offshore Tax Evasion Bill
Congressional Democrats are set to announce Tuesday legislation aimed at squeezing more information from foreign banks and U.S. citizens with offshore accounts to ferret out tax evaders. The bill from...
View ArticleLouisiana blasts new FDA rule requiring oysters to be sterilized to prevent...
At the small warehouse tucked away in the back side of the French Quarter, the shuckers at P&J Oyster Co. have arrived before daybreak for 133 years. Their in-shell and shucked oysters have been on...
View ArticleMiles for Nothing: How the Government Helped Frequent Fliers Make a Mint
Free Shipping of Coins, Put on Credit Cards, Funds Trip to Tahiti; 'Mr. Pickles' Cleans Up Enthusiasts of frequent-flier mileage have all kinds of crazy strategies for racking up credits, but few have...
View ArticleThe Death of Fiscal Federalism
It’s been a long time since economic policy was forged in the states. Last May the Obama administration forced South Carolina not just to take its share of federal stimulus funds, but to spend the...
View ArticleRetired, then rehired: How college workers use loophole to boost pay
Greg Royer ranks among the state's top-paid employees, with a salary of $304,000. But that's just part of his income. For nearly seven years, he's also collected an annual pension of $105,000. Royer,...
View ArticleBiofuel venture hasn’t paid off for Snohomish County (Washington state)
A plan to lessen Snohomish County’s dependence on fossil fuels while helping local farmers has fallen well short of expectations. Supporters urge patience. In time, they say, an improved economy will...
View Article(Obamaville Democrat) Schakowsky: Americans don't deserve to keep all of...
CHICAGO (WLS) - A lot of reaction Wednesday morning to Congresswoman Jan Schakowsky's interview with Don Wade and Roma. Schakowsky said that Americans don't deserve to keep all of their money because...
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