#33 Failed Bank

http://www.fdic.gov/news/news/press/2009/pr09069.html
The beat goes on.

Hot Air » Blog Archive » California heading towards collapse, auditor warns

Hot Air » Blog Archive » California heading towards collapse, auditor warns

Every so slowly the state is sinking. When it implodes it will be ugly. Look for the government to offer 'help'.

Zero Hedge: Of Mice And Men

Zero Hedge: Of Mice And Men

Why the stress test is good and we should all stop worrying. Not really.

Fannie's Loss Swells; Treasury to Bolster Support - WSJ.com

Fannie's Loss Swells; Treasury to Bolster Support - WSJ.com

The slow loss of $100 Billion are now doubled. When we will stop the madness.

Bailout watchdog: Credit crunch alive and well - May. 7, 2009

Bailout watchdog: Credit crunch alive and well - May. 7, 2009

One of the top watchdogs in DC.

naked capitalism: Did Chrysler Secured Lenders Get a Raw Deal?

naked capitalism: Did Chrysler Secured Lenders Get a Raw Deal?

All good points. It comes down on the side of long term damage for short term gains.

Table A-12. Alternative measures of labor underutilization

Table A-12. Alternative measures of labor underutilization
U3 hits 8.9%, looks like we cross the 9% by next month. Unless we start to see a slow down we are only 4 months from 10%.
Good News U6 slowed it rate of climb. But it still at 15.8.
Other bad news is growth is all public sector. So we are losing tax payers and gain tax supported jobs.

Chrysler secured creditor to fight illegal plan | Reuters

Chrysler secured creditor to fight illegal plan Reuters

The fight continues.

Mexico drug war: Sinaloa cartel may resort to deadly force in U.S. - Los Angeles Times

Mexico drug war: Sinaloa cartel may resort to deadly force in U.S. - Los Angeles Times

Wow the TOP 20 for 2009 just keep popping. A very serious threat from the a very serious person. Can you say third front of a war?

Hot Air » Blog Archive » More madman management: Feds to pressure TARP CEOs to resign?

Hot Air » Blog Archive » More madman management: Feds to pressure TARP CEOs to resign?

Now we can call him El President not just President. As he is using much more force than Bush did with the Bankers. Right or Wrong this will end badly.

What If Marijuana Were Legal? Possible Outcomes : NPR

What If Marijuana Were Legal? Possible Outcomes : NPR

Well worth a listen. I stand on the side of legalization and taxation of it.

Shaved Heads Keep Barbers Idle as Drought Sears California - Bloomberg.com

Shaved Heads Keep Barbers Idle as Drought Sears California - Bloomberg.com

What is the difference between a recession and a depression: Famine.

The Market Ticker

The Market Ticker
A rather fun take on the bond markets. Problems ahead.

Love Gov Injects A Little Something In Our Morning - Dealbreaker - A Wall Street Tabloid - Business News Headlines and Financial Gossip

Love Gov Injects A Little Something In Our Morning - Dealbreaker - A Wall Street Tabloid - Business News Headlines and Financial Gossip
Some must have been asleep this was one of the single most informative and well thought things I have seen on CNBC. Shocking.

US House Passes Bill To Probe Financial Crisis

US House Passes Bill To Probe Financial Crisis

In somewhat shocking news, we are going to a Pechora like commission from the 30's. Should be fun to watch. If we can get the same quality as the 9/11 commission maybe it will do some good.

Obama proposes to save $17 billion in 2010 - May. 6, 2009

Obama proposes to save $17 billion in 2010 - May. 6, 2009
Now asking us to cut $30 a year instead of $3. I feel better already.

Governor asks: What if pot's legal and taxed? - Sacramento News - Local and Breaking Sacramento News | Sacramento Bee

Governor asks: What if pot's legal and taxed? - Sacramento News - Local and Breaking Sacramento News Sacramento Bee

No big shock, with another budget hole of $2 Billion and not a pray of getting the compromise passed, he is look for any revenue he can get.

The National Spotlight Emits UVB - Dealbreaker - A Wall Street Tabloid - Business News Headlines and Financial Gossip

The National Spotlight Emits UVB - Dealbreaker - A Wall Street Tabloid - Business News Headlines and Financial Gossip

Right or Wrong sunshine does funny things to people.

martin armstrong

martin armstrong
So the government wins round 1 by strong arming all parties.

Small Banks Face Hits on Commercial Real Estate - WSJ.com

Small Banks Face Hits on Commercial Real Estate - WSJ.com
Ah CRE one of my top topics for 2009 about the heat up.

Chrysler won't repay federal bailout 'loans' - May. 5, 2009

Chrysler won't repay federal bailout 'loans' - May. 5, 2009

In news that is a shock to know one, Chrylser will not repay $7 Billion in taxpayer dollars it got. Guess that bridge help someone? Or did Bush's Team just use it to push the problem to Obama?

The Washington Independent » Ron Paul’s Economic Theories Winning GOP Converts

The Washington Independent » Ron Paul’s Economic Theories Winning GOP Converts

Love Ron Paul. I hope these inroads produce some change we need.

Pakistan expects 500,000 to flee Taliban fighting

Pakistan expects 500,000 to flee Taliban fighting

Uglyness going down in pakistan

Stress Tests: What's That Light? - The Market Ticker

Stress Tests: What's That Light? - The Market Ticker

Excellent take on what is going on. Once again this site is exterme on the bullishness but things look kinds of bad.

Insiders selling at record pace.

http://pragcap.com/more-on-insider-selling

I am sure they just need the money :)

China and the Dollar

http://www.ft.com/cms/s/0/2f842dec-38d8-11de-8cfe-00144feabdc0.html

U.S. watchdogs want bar raised in failed bank reviews

http://www.reuters.com/article/ousiv/idUSTRE5435SS20090504
I guess adding employees is off the table?

Today's Must Read The Case for a Federalism Amendment

http://online.wsj.com/article/SB124044199838345461.html#mod=rss_opinion_main

Awesome Google Page Unemployment rate

http://www.google.com/publicdata?ds=usunemployment#met=unemployment_rate&idim=state:ST390000&idim=county:PS390120:CN390610

No big surprise -Major fight in the BK of Chrysler

http://zerohedge.blogspot.com/2009/05/chrysler-non-tarp-lenders-come-out-guns.html

Ugly and just a small preview of the GM mess in 30 days.

GM bondholders getting screwed, BK likely.

http://www.bloomberg.com/apps/news?pid=20601087&sid=awCyiNlvcfUA&refer=home

American Express Still Going Nuts Cutting Off Customers

http://www.businessinsider.com/american-express-still-going-nuts-cutting-customers-off-2009-5#comment-49fee80a4b54379700db479d

This is a key reason AMEX must be in Deep trouble. I have three cards and use them for business travel. Have never missed or been late on payments. Each month I charge about 50% of the total credit limit. In six months they have cut the credit limits on all my cards by 75%. I called after they cut me again this weekend and the phone person person says there is note on my account they don't like my debt level on my house so they are lowering my credit line! I said what does that have to do with my Amex or with the fact I have been a solid customer for 15 years? Just our new policy. So I decided to cancel all my cards. I have a Citi card as well and plan to shift all business to it. I also have around 20 co-workers who have Amex cards and they have been though the same thing. I can only concluded Amex is suffering serious loses and is pulling all stops to try and stop it. So if you business plan is to get rid of all customers how will you make money?

Why the taliban is winnning.

http://www.newsweek.com/id/195786

Obama the new Godfather

http://www.businessinsider.com/white-house-directly-threatened-perella-weinberg-over-chrysler-2009-5

Chrysler in doomsday jobs warning

http://www.ft.com/cms/s/0/279096cc-3679-11de-af40-00144feabdc0.html?nclick_check=1
So we gamble now. Up to 300,000 jobs are at stake, those would be just direct losees.
If we end up in liquation we could be talking 600,000 or more in job loses.

Number 31 and 32 Failed Banks

http://www.fdic.gov/news/news/press/2009/pr09062.html
#31

http://www.fdic.gov/news/news/press/2009/pr09063.html
#32

Both smaller banks. But number 30 I am sure is still causing headaches.