Category Archives: banking

AIG Saved! For Now (Attention Government Shoppers!)

Well, well, well, Lehman is thrown to the wolves, but AIG gets a government bailout (do I need to point out that again taxpayer money is used to salvage a private company with no public or Congressional input at all? … Continue reading

Posted in aig, banking, economy, fed | Leave a comment

2nd Biggest Bank Failure in US History

IndyMac fails. This is not the last bank failure we will see. How many fail depends a lot on how bad the economy gets. The reason the Fed waited until Friday night to do this was to keep it from … Continue reading

Posted in banking, fed | 2 Comments

Zombie Banks

This is an interesting article. If you’re not business oriented then you won’t understand it. To put it in laymen’s terms, the Fed is not forcing banks to price the assets they hold at actual value because it would mean … Continue reading

Posted in banking, economy | Leave a comment

Societe Generale And Its "Rogue Trader"

Think a low-level trader could lose 7.1 billon dollars without the bank that he works for knowing it? This is the story that Societe Generale, a bank in France, would have us believe. I do not believe it for a … Continue reading

Posted in banking, economy | Leave a comment