Thousands of the nation’s largest water polluters are outside the Clean Water Act’s reach because the Supreme Court has left uncertain which waterways are protected by that law, according to interviews with regulators.
As a result, some businesses are declaring that the law no longer applies to them. And pollution rates are rising.
Companies that have spilled [...]
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Thousands of the nation’s largest water polluters are outside the Clean Water Act’s reach because the Supreme Court has left uncertain which waterways are protected by that law, according to interviews with regulators. The euro has become another “subprime” currency, afflicted by debts, funny bookkeeping, regulatory failure and widespread street protests in Greece and Spain. It’s ironic that more violence-prone Americans didn’t hit the streets, and throw rocks, when their living standards were sliced dramatically. Not yet anyway. The euro has become another “subprime” currency, afflicted by debts, funny bookkeeping, regulatory failure and widespread street protests in Greece and Spain. It’s ironic that more violence-prone Americans didn’t hit the streets, and throw rocks, when their living standards were sliced dramatically. Not yet anyway. 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 February 27, 2009 — U.S. regulator doubles projected bank failures costSource: Reuters An influential US Senate committee has proposed a sweeping overhaul of the country’s regulatory architecture that would strip powers from the Federal Reserve and create a single banking regulator. 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 federal government is engaged in a massive mortgage modification program that’s on track to send billions in tax dollars to many of the very companies that judges or regulators have cited in recent years for abusive mortgage practices. The federal government is engaged in a massive mortgage modification program that’s on track to send billions in tax dollars to many of the very companies that judges or regulators have cited in recent years for abusive mortgage practices. 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. InBank, the 14th bank to fail in Illinois this year Platinum Bank of Rolling Meadows was closed by the Office of Thrift Supervision, which appointed the FDIC as receiver. Kansas City, Mo.-based First Bank of Kansas City also was closed by regulators. Sioux City, Iowa-based Vantus Bank In Arizona, First State Bank in Flagstaff Source/Full Story: MarketWatch [...] InBank, the 14th bank to fail in Illinois this year Platinum Bank of Rolling Meadows was closed by the Office of Thrift Supervision, which appointed the FDIC as receiver. Kansas City, Mo.-based First Bank of Kansas City also was closed by regulators. Sioux City, Iowa-based Vantus Bank In Arizona, First State Bank in Flagstaff Source/Full Story: MarketWatch [...] The Federal Deposit Insurance Corp. was appointed receiver of Montgomery, Ala.-based Colonial. The agency approved the sale [...] More than 150 publicly traded U.S. lenders own nonperforming loans that equal 5 percent or more of their holdings, a level that former regulators say can wipe out a bank’s equity and threaten its survival. The number of banks exceeding the threshold more than doubled in the year through June, according to data compiled by Bloomberg, [...] U.S. officials are considering giving CIT Group Inc a temporary loan as part of an aid package to help the lender avoid collapse, a source familiar with regulators’ thinking said on Tuesday. Just why is there so much debt in the Anglo-Saxon world? Bankers and regulators know well that it is in nobody’s long-term interests to have allowed borrowing to escalate to a position where the US now owes far more, as a multiple of the economy, than at the start of the Great Depression. 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. Bank stress tests should be repeated if the U.S. unemployment rate rises beyond levels assumed by regulators in a recent round of examinations that provided relief to markets, according to a report released by a bailout watchdog panel on Tuesday. Macomb, Ill.-based Citizens National Bank was closed by regulators, the 36th bank failure BankUnited Financial , the largest lender based in Florida, was shut down by banking regulators and sold to a group of private-equity firms, the Federal Deposit Insurance Corp. said late Thursday…. 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 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. Four banks in Georgia, Michigan, California and Idaho were [...] Quite a bit of pomp and circumstance, just so we will have the “proper” perspective…how thoughtful. Stockbridge, Ga.-based FirstCity Bank was closed by regulators Friday, marking the 18th U.S. bank failure of 2009. The Federal Deposit Insurance Corporation said in a statement that it will mail checks to insured depositors Monday morning, and that FirstCity’s direct deposits from the federal government such as Social Security and Veterans’ payments will be transferred [...] American International Group Inc had warned of turmoil around the globe if the government allowed the insurer to fail when it appealed to U.S. regulators for its latest rescue, Bloomberg said citing an AIG presentation dated February 26. Source: MarketWatch Source: MarketWatch Source: Telegraph |
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