mortgage crisis
Decline and Fall: the Wamu Saga
The Fed’s took my bank- for a day, it turns out. According to Marketwatch,
the federal Office of Thrift Supervision shut Wamu down yesterday
and put the Federal Deposit Insurance Corporation (FDIC) in charge
of dealing with what was left of this once thriving thrift institution.
The FDIC wasted no time, auctioning off remaining deposits- including
my $2.62- to [...]
Banker Brigade
With legions of bankers armed with deadly debt securities, the U.S. will be able to vanquish all foes.
Republicans Had Better Weed
Are these guys high? As the debate in Congress over the
$700 billion financial system bailout rages on, I’m seeing
the same ideological arguments playing out in Washington
that always surface as Democrats lock horns with Republicans.
This is not the run-up to the Iraq war; there’s no doubt that
serious damage is being done to the US. Yet, [...]
AIG Needs $12.5 Billion – Time to Pay Attention, Wall Street!
The stock market rumbled ahead on greased rails of delusion cheered by the glimmer of light perhaps flickering at the end of the credit crisis tunnel. But, the news Thursday afternoon signaled that the frail twinkling they thought meant hope may be an oncoming freight train instead.
After the closing bell Thursday, American International Group, the [...]
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