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Regulators shut down banks in Nevada and Washington on Friday, marking the 21st and 22nd failures this year of federally insured banks.
The Federal Deposit Insurance Corp. was appointed receiver of Carson River Community Bank, based in Carson City, Nev. and Rainier Pacific Bank in Tacoma, Wash.
Carson River Community Bank had $51.1 million in assets and [...]

The Khan Academy is a not-for-profit organization with the mission of providing a high quality education to anyone, anywhere.
We have 1000+ videos on YouTube covering everything from basic arithmetic and algebra to differential equations, physics, chemistry, biology and finance which have been recorded by Salman Khan.

Source/Full Story: Khan Academy
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December 29, 2009 — GMAC [...]

State and federal banking regulators seized three small lenders on Friday, lifting the total number of bank failures this year to 133.

Source/Full Story: WSJ.com
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February 27, 2009 — U.S. regulator doubles projected bank failures costSource:  Reuters
The worsening U.S. economy prompted the Federal Deposit Insurance Corp on Friday to double its projected U.S. bank failure costs [...]

Nine more U.S. banks, all owned by the same Illinois holding company, were closed Friday by regulators, and the Federal Deposit Insurance Corp. said U.S. Bank of Minneapolis would assume their deposits.
The closings brought the 2009 total to 115 in 2009 — the first year since 1992 that more than 100 banks have gone under.…The [...]

A government watchdog says federal officials weren’t entirely honest with the public about the health of the first 9 financial firms that got federal bailouts, according to a report released Monday.
Bailout special inspector general Neil Barofsky says in an audit that Treasury Department officials painted an overly rosy picture, creating “unrealistic expectations,” when they called [...]

A government watchdog says federal officials weren’t entirely honest with the public about the health of the first 9 financial firms that got federal bailouts, according to a report released Monday.
Bailout special inspector general Neil Barofsky says in an audit that Treasury Department officials painted an overly rosy picture, creating “unrealistic expectations,” when they called [...]

Reporting from Washington – Despite signs of economic improvement, banks continue to fail at a brisk pace, forcing regulators to scramble to keep the industry-financed deposit insurance fund from running out of cash.
With the fund technically falling into the red today, the Federal Deposit Insurance Corp. proposed Tuesday to require banks this year to prepay [...]

Banks round the world have still to reveal about half of their likely losses resulting from the financial and economic crisis, the International Monetary Fund said on Wednesday, warning that there was still a “significant” risk of another downward lurch in the global recession.
The IMF described credit risks as remaining “elevated” even though financial conditions [...]

The Federal Deposit Insurance Corp. is weighing several costly — and never-before-used — options as it struggles to shore up the dwindling fund that insures bank deposits.
The agency is considering borrowing billions from healthy banks. Alternatively, it may impose a special fee on the banking industry.
Each option carries risk: Drawing money from healthy banks would [...]

The economy could spiral into hyperinflation not seen since the early 1980s if the Federal Reserve does not tighten its monetary policy soon, Sen. Chuck Grassley (R-Iowa) warned Tuesday.

Grassley, speaking about the renomination of Federal Reserve Chairman Ben Bernanke to a second term as head of the Fed, asserted that Bernanke’s ability to hold down [...]

Four more banks failed according to the Federal Deposit Insurance Corp. on Friday, bringing the year’s total to 68, and to 93 failed banks since the beginning of the recession. First BankAmericano of Elizabeth, N.J., will have its deposits transferred to Crown Bank, Brick, N.J.; Peoples Community Bank of West Chester, Ohio, will have deposits [...]

The U.S. Justice Department is investigating the market for credit-default swaps, according to Markit Group Ltd., the data provider majority-owned by Wall Street’s largest banks.

“Markit has been informed of an investigation by the Department of Justice into the credit-derivatives and related markets,” spokeswoman Teresa Chick said yesterday in an e- mailed statement in response to [...]

The Federal Deposit Insurance Corp. is gearing up to handle a large number of bank failures expected as a result of bad mortgages, both in residential and commercial real estate, an economist says.
“They know they’re going to take down a large number of banks and they can’t do it until they’re staffed up,” said Mark [...]

Five U.S. banks with total assets of about $1.04 billion were seized by regulators, pushing this year’s tally of failures to 45 as a recession drives up unemployment and home foreclosures.
Community Bank of West Georgia, in Villa Rica, Georgia; Neighborhood Community Bank of Newnan, Georgia; Horizon Bank of Pine City, Minnesota; MetroPacific Bank of Irvine, [...]

European and emerging-market stocks fell for the fifth day, the longest losing streak since January, as an unexpected drop in U.K. retail sales and downgrades of U.S. banks by Standard & Poor’s fanned concern the global economic recovery will falter.
The Dow Jones Stoxx 600 Index of European shares slid 0.4 percent at 11 a.m. in [...]

 
JPMorgan Chase & Co and several other banks eager to escape the restrictions and stigma linked to government bailout funds may get the chance to do so in the next few weeks.
Regulators are talking to big banks that want to repay funds received under the government’s $700 billion Troubled Asset Relief Program, or TARP, a [...]

Must read piece, via:  The Market Ticker
In short the banks were forcibly nationalized without a prior finding of insolvency; this is blatantly unconstitutional as a “taking” without compensation.
The raw document dump shows an insane amount of redaction.  But what’s also clear is one entry: “Good morning.  FYI, Futures up 380.”
Point a gun at people’s heads [...]

There’s more than 250 years separating Baron Benjamin de Rothschild from Bernard L. Madoff.
This isn’t an insignificant issue in Geneva where at least eight banks had about 10 billion Swiss francs ($8.8 billion) with Madoff, who pleaded guilty in March to masterminding a $65 billion Ponzi scheme. Investors are preparing lawsuits against firms that gave [...]

Ten of America’s largest 19 banks need a combined $74.6bn (£50bn) of extra funds to boost their cash reserves.
That is the main finding of the so-called “stress tests” to see if the banks have sufficient capital to cope should the recession worsen.
Bank of America is the most at risk, needing an additional $33.9bn.
Other banks that [...]

The Federal Reserve plans to deliver results of stress tests on U.S. banks to executives today that may show about 10 companies need additional capital to weather a deeper recession, people familiar with the matter said.
Banks are formulating plans for filling their capital requirements, much of which would likely come from conversions of preferred shares, [...]

Sen. Dick Durbin, on a local Chicago radio station this week, blurted out an obvious truth about Congress that, despite being blindingly obvious, is rarely spoken: “And the banks — hard to believe in a time when we’re facing a banking crisis that many of the banks created — are still the most powerful [...]

Uh huh…
The Federal Reserve is postponing the release of stress tests on the biggest U.S. banks while executives debate preliminary findings with examiners, according to government and industry officials.
The results, originally scheduled for publication on May 4, now may not be revealed until toward the end of next week, said the people, who declined to [...]

The nation’s 19 largest banks began receiving results Friday of “stress tests” designed by federal regulators to gauge how they’d perform if the economy sinks further than projected. Several of the banks are widely expected to be ordered to raise more capital or face the prospect of partial government ownership.
The results of the stress tests [...]

The nation’s 19 largest banks began receiving results Friday of “stress tests” designed by federal regulators to gauge how they’d perform if the economy sinks further than projected. Several of the banks are widely expected to be ordered to raise more capital or face the prospect of partial government ownership.
The results of the stress tests [...]

Quite a bit of pomp and circumstance, just so we will have the “proper” perspective…how thoughtful.
The Federal Reserve and other regulators conducting stress tests on the 19 biggest U.S. banks will disclose how they carried out the examinations before any results are released, people familiar with the process said.
The regulators plan to publish a paper [...]

U.S. foreclosure activity leaped 46 percent in March from a year earlier, hitting a record high as programs stunting the torrid pace of failing mortgages expired, RealtyTrac reported on Thursday.
A temporary freeze on foreclosures by major banks and government-controlled home finance companies Fannie Mae and Freddie Mac ended before President Barack Obama’s massive housing stimulus, [...]

The U.S. Federal Reserve has told Goldman Sachs Group Inc., Citigroup Inc. and other banks to keep mum on the results of “stress tests” that will gauge their ability to weather the recession, people familiar with the matter said.
The Fed wants to ensure that the report cards don’t leak during earnings conference calls scheduled for [...]

The U.S. Federal Reserve has told Goldman Sachs Group Inc., Citigroup Inc. and other banks to keep mum on the results of “stress tests” that will gauge their ability to weather the recession, people familiar with the matter said.
The Fed wants to ensure that the report cards don’t leak during earnings conference calls scheduled for [...]

The U.S. Federal Reserve has told Goldman Sachs Group Inc., Citigroup Inc. and other banks to keep mum on the results of “stress tests” that will gauge their ability to weather the recession, people familiar with the matter said.
The Fed wants to ensure that the report cards don’t leak during earnings conference calls scheduled for [...]

The U.S. Federal Reserve has told Goldman Sachs Group Inc., Citigroup Inc. and other banks to keep mum on the results of “stress tests” that will gauge their ability to weather the recession, people familiar with the matter said.
The Fed wants to ensure that the report cards don’t leak during earnings conference calls scheduled for [...]

The Obama administration is considering asking Congress to give the Treasury secretary unprecedented powers to initiate the seizure of non-bank financial companies, such as large insurers, investment firms and hedge funds, whose collapse would damage the broader economy, according to an administration document.
The government at present has the authority to seize only banks.
Giving the Treasury [...]

The Obama administration is considering asking Congress to give the Treasury secretary unprecedented powers to initiate the seizure of non-bank financial companies, such as large insurers, investment firms and hedge funds, whose collapse would damage the broader economy, according to an administration document.
The government at present has the authority to seize only banks.
Giving the Treasury [...]

The Obama administration is considering asking Congress to give the Treasury secretary unprecedented powers to initiate the seizure of non-bank financial companies, such as large insurers, investment firms and hedge funds, whose collapse would damage the broader economy, according to an administration document.
The government at present has the authority to seize only banks.
Giving the Treasury [...]

The Obama administration will announce details of a plan today to expand the $700 billion rescue of the financial system that will rely on enticing private investors to buy the troubled assets clogging banks’ balance sheets.
Treasury Secretary Timothy Geithner, who will unveil the Public Private Investment Program today, has crafted an approach using up to [...]

The Treasury Department will unveil the next step in its financial rescue efforts tomorrow, announcing that it intends to create a government body, called the Public Investment Corp., to finance the purchase of as much as $1 trillion in soured loans and toxic assets from ailing banks, according to sources.
The plan calls for the new [...]

The Treasury Department will unveil the next step in its financial rescue efforts tomorrow, announcing that it intends to create a government body, called the Public Investment Corp., to finance the purchase of as much as $1 trillion in soured loans and toxic assets from ailing banks, according to sources.
The plan calls for the new [...]

In an interview with Forbes on Monday, Beckstrom expanded on his letter, adding that the NSA’s central role in the Cyber Initiative prevented the private sector from participating in information sharing projects–a collaborative side of the initiative aimed at protecting the nation’s critical infrastructure, such as power plants, banks and telecommunications networks, from cyberspies and [...]

Source: Reuters
British Prime Minister Gordon Brown called for more rigorous global supervision of the banking system on Saturday, saying no hedge fund or tax haven should be allowed to fall through the cracks.
Speaking at Labour’s National Policy Forum in Bristol, he also spelled out a new vision for Britain’s domestic banking industry with nationalised [...]

Watch the Video from Bloomberg Television
Source:  NY Times
The author of “The Black Swan,” Nassim Nicholas Taleb, predicts that the global financial crisis will be harder to end than the Great Depression and it may force the United States government to nationalize some banks.
The world has a much more complex financial system than in the 1930s, [...]

Source:  Reuters
The Dow industrials closed at a more than six-year low on Thursday as investor fears that banks could be nationalized drove their stocks to a 17-year low and a rise in the number people receiving jobless benefits to a record high stoked worries about the deepening recession.
After several near misses this week, blue chips [...]