May 30 2009
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 [...]
Mar 28 2009
Saving Money is Bad for the Economy: Personal Savings Rate Higher, Consumption Slightly Up, Banks get new American Express, and Markets Begging for Money.
Last month the savings rate hit the 5 percent mark. That makes two months over 4 percent and for the first time in a decade that Americans have actually saved more than 4 percent for two consecutive months. Saved 4 percent of what? Of their personal income. You would think that most people would [...]
