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http://implode-explode.com/ - Tracking the many faces of the global credit implosion.
hf-implode.com - 97 minutes ago
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hf-implode.com —
" A day after Bank of America (BAC:
16.25 -0.25%) released details of the 100,000 mortgage workouts
it offered through a homeownership retention program so far, Citigroup (C: 4.25 -0.70%) said it provided workouts for 130,000 distressed homeowners in Q309."
(more)
Citi Gives Mortgage Workouts to 130,000 Borrowers
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iehi
posted 97 minutes agoposted this
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posted 97 minutes agoposted this
hf-implode.com - 114 minutes ago
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hf-implode.com —
The government insurance fund that protects more than
$4.5 trillion of U.S. bank deposits slipped into the
red at the end of September, after fifty banks collapsed during the third quarter. The deposit insurance fund dropped by $18.6 billion during the third quarter of 2009 to negative $8.2 ...
(more)
Number of Troubled Banks Rises to 552; FDIC Fund Sinks ...
hf-implode.com - 116 minutes ago
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hf-implode.com —
"Public-sector unions have brought the state to its
knees."
(more)
Plundering California
hf-implode.com - 2 hours ago
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hf-implode.com —
" The Federal Reserve asked nine of the
U.S. banks that were part of this year’s stress
tests to submit plans for repaying the government’s capital injections, a person familiar with the situation said."
(more)
Fed Said to Ask Stress-Tested Banks to Submit Plans on TARP
hf-implode.com - 2 hours ago
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hf-implode.com —
" Freddie Mac, the government-backed mortgage finance giant,
said Monday it's trying to minimize losses on more
than $1 billion in assets at risk because of the summer collapse of mortgage lender Taylor, Bean & Whitaker and a regional bank with which it did business."
(more)
Freddie Mac trying to minimize exposure from failed ...
hf-implode.com - 2 hours ago
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hf-implode.com —
Though the chiefs at both investment banks lost
more than $900 million in their stock holdings, the
professors argue that it is important to also consider all the riches the bankers took off the table in the years preceding the crisis. At Lehman, the top five executives received cash bonuses ...
(more)
Bear Stearns, Lehman Execs Kept Billions . . .
``While markets around the globe took off in March, the 51-year-old executive remained focused on economic obstacles large enough to derail the recovery train. As a result, he stayed short in his flagship $3.5bn (£2.1bn, €2.3bn) Horseman Global Fund, which is known for making directional bets. ...
Other
" On Thursday, Moody’s Investors Service cut various ratings on UBS (NYSE: UBS), citing significant challenges the company continues to face, in both the Investment Banking and Wealth Management businesses. This cut comes at a difficult time for an already struggling bank, which can scarcely ...
Stocks
UBS AG
Moody's
NYSE
" Across the nation, local governments and related public entities, already reeling from the recession, face another fiscal crisis: billions of dollars in fees owed to UBS, Goldman Sachs (GS), and other financial giants on investment deals gone wrong."
Stocks
Goldman Sachs
UBS AG
"...,: we the bankrupt financial institution can sue in court to stop our being shut down by regulators. Hello litigation. Bye bye, prompt corrective action. This is a Trojan horse. That is huge because it means a weak bank can carry on in zombie form indefinitely, acting like a cancer to the ...
Other
" Yes, existing home sales were up. But between the effect of last-ditch efforts (before it was extended) to get the $8000 tax credit, falling prices and most of all the ongoing subprime-condition FHA loans and the Fed's securities purchases, is the rise such a surprise? It may lift Wall Street ...
Other
" I hate to get sucked into the vampire squid line of thinking about Goldman, but the only explanation i can think of for why AIG got rescued and the monolines did not is because Goldman had significant exposure to AIG and did not have exposure to the monolines."
Stocks
American International Group
"Terra Nova Financial LLC, a Chicago-based broker, has been fined $400,000 by federal regulators who say the firm made unauthorized payments to clients, including money to cover one hedge fund manager’s visits to a “gentleman’s club.”"
Stocks
Nova
hf-implode.com - 25 hours ago
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hf-implode.com —
" The primary enforcer of this cartel is
the Federal Reserve System. The FED provides the fiat
money that in turn provides banks with reserves to lend. It also serves as the lender of last resort -- officially, to the government; operationally, to the banks. This keeps the largest banks from ...
(more)
"No Right to Know": A Wall Street Financial Site's ...
hf-implode.com - 25 hours ago
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hf-implode.com —
``Some high-level decision-maker at Standard & Poor's has
decided that the public should no longer be allowed
easy access to this crucial number: the Price/Earnings ratio of the S&P 500. That number went above 140 on September 30, 2009 -- the highest ever recorded. It had continued ...
(more)
S&P PE Ratio Reaches 140; Highest Ever. Now Censored By ...
hf-implode.com - 26 hours ago
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hf-implode.com —
" Boies Schiller & Flexner LLP, a New
York law firm led by David Boies, gave Cuomo
$35,000 this year, records show. The firm represents former American International Group Inc. Chief Executive Officer Maurice “Hank” Greenberg in a civil fraud case the attorney general is pursuing. Lawyers ...
(more)
Cuomo Took Campaign Cash From Lawyers With Matters ...
hf-implode.com - 27 hours ago
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hf-implode.com —
"American International Group (AIG: 35.22 +0.34%) re-branded its
asset management and investment advisory business to PineBridge Investments.
The renaming of the business is part of a transition stage into an independent business."
(more)
AIG Re-brands Asset Management Business
hf-implode.com - 27 hours ago
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hf-implode.com —
"Sources tell The Post that a number of
policy makers have begun mentioning Dimon as a successor
to Geithner, whose standing in Washington has suffered because of the country's high unemployment rate, the weakness of the dollar, the slow pace of the recovery and the government's mounting deficit."
(more)
Jamie Dimon seen as good fit for Treasury
hf-implode.com - 27 hours ago
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hf-implode.com —
" Research shows that the bigger the difference
between what people owe and their home's value, the
more likely they are to walk away, even if they can still afford to make mortgage payments."
(more)
Owners' 'strategic defaults' on mortgages depend largely ...
