FDIC Banking Report: 305 Troubled Institutions up from 90 in 2008. $13.5 trillion Assets held with 2.1 Million Employees at 8,200 Institutions.
The FDIC is facing the highest amount of bank failures since the early 1990s. To calm Americans the government in 2008 upped the amount secured at FDIC institutions from $100,000 to $250,000 for each customer account. Yet losses have been so deep that in the fourth quarter of 2008 the Deposit Insurance Fund (DIF) quickly […]
U.S. Treasury and Federal Reserve. Federal Reserve holding over $2 trillion in the Darkest Balance Sheet in Financial History.
The U.S. Treasury and the Federal Reserve have arguably two of the least transparent balance sheets known to humankind. This wouldn’t be such a big issue if the amount of money funneled into these organizations was small. That is not the case. The Federal Reserve since October of 2008 has held on its balance sheet […]
Alan Greenspan on $100,000 White-collar Comedy Tour: Quantitative Easing and Changing our Economic and Financial Language.
Alan Greenspan continues his White-collar $100,000 speaking fee comedy tour in which he tells the audience that he had nothing to do with the housing bubble. Those expecting to see a mea culpa concert from the former Fed Chairman are going to be waiting for a very long time. According to the majestic maestro, a […]
The New American Austerity: Getting By with Less Debt and Less Money. In What Sectors are Americans Spending Less Money?
The Census Bureau reported on Wednesday that for the month of April retail sales came in at $337 billion, a decrease of 0.4 percent from the month before. The market reacted to this news and headed lower. If we pry into the data beyond the headline number, we will see that retail sales are actually […]