Oct 1 2009
FDIC Insuring 8,200 Banks with $9 Trillion in Deposits and Zero in the Deposit Insurance Fund. Calling Banks to Prepay Assessment of $45 Billion.
The FDIC has greatly underestimated the problems of our nation’s banking system. Earlier in the week the FDIC proposed that banks put up $45 billion to protect bank depositors. The average American must be amazed that a system backing $9 trillion in deposits is essentially broke. Clearly the FDIC has the backing of the U.S. [...]
Sep 30 2009
Option ARMs in Financial Pain: 900,000 Mortgages and 1 out of 4 either Seriously Delinquent or in Foreclosure. OCC and OTS Report Shows Foreclosures Still Growing.
It is interesting to see new data being published regarding Option ARMs in the new OCC and OTS report. According to the recently released report, there were 900,000 active Payment Option ARMs in the United States. What is troubling about the current report is the performance of these loans. Many of these loans are located [...]
