Archive for July, 2009
Local Banks Thriving While Regional Banks Struggle
With the banking crisis still in full swing, the press always goes to the huge banks and financial institutions because big numbers draw eyeballs and fascinates people with their mind boggling scope. Of course the fact that these huge banks are important to our economy and way of life adds to that being a legitimate [...]
Lehman Brothers Trying to Pump $950 Million into Aurora Bank
Lehman Brothers Holdings Inc. is scheduled to appear before Judge James Peck of the U.S. Bankruptcy Court on Wednesday in Manhattan in order to gain permission to insert $950 million into their subsidiary Aurora Bank FSB, based in Delaware, which has been struggling to survive. Lehman’s is the largest bankruptcy case to this time, and [...]
FDIC’s Closure Of Security Bank Corp. Brings 2009 Total To 58
The FDIC broke its streak of weekly bank closures on Friday, failing to report any bank seizures this week for the first time in 2009. Last Friday’s closure of Security Bank Corp., headquartered in Macon GA, was the latest and marked the 58th bank the FDIC was appointed to receive. State Bank & Trust Company [...]
Built Up a Reserve Fund Before Anything Else
When working as a financial manager for people throughout the years, one of the things that was difficult to convince most who wanted to get a handle on their finances, was the number one thing you must do to start off with to lay a solid foundation for the future, which was building up a [...]
Swiss Bank UBS, US Reach Tentative Agreement
Hoping to avoid a diplomatic showdown, word is Swiss banking giant UBS and the U.S. Justice Department have reached an agreement in general that will deal with the releasiing of 52,000 American UBS clients, who of some, are thought to have evaded taxes through using undisclosed accounts. Details of the agreement haven’t been released, although [...]
How to Shop For a Savings Account
Savings accounts can be used for both short term and long term savings goals, although you may need to have more than one account in order to benefit most from interest rates and account features. Before shopping for a savings account, it’s important that you consider how often you’ll need to access the money in [...]
New Bill Would Empower FDIC to Wind Down Bank Holding Companies
New legislation described as an “interim” measure was introduced by Republican Bob Corker and Democrat Mark Warner to give the Federal Deposit Insurance Corp. power to wind down bank holding companies. What the bill was introduced to allegedly handle over the short term, until broader financial regulatory reforms are addressed, is the authority to wind [...]
Did Taxpayers Pay $33 Billion in Bank Employee Bonuses?
New York Attorney General Andrew Cuomo released data today that revealed almost $33 billion in bonuses were awarded to bank employees of nine banks which received taxpayer aid money, with over $1 million each to almost 5,000 bank workers, according to a Wall Street Journal report. Amazingly, the report also said that with six of [...]
FDIC Says it Will Split Assets of Failed Banks to Generate Bids
Spokesman for the FDIC, Andrew Gray announced today in a statement that the Federal Deposit Insurance Corp. has a strategy in place to take the performing assets of failed banks, along with the bad loans, and separate them in order to attract possible buyers. What that would do is enable the government to help potential [...]
Account Reviews: ING Direct’s 1.30% APY Orange Savings Account
ING Direct was one of the first high-yield savings accounts which was founded in 1997. Unlike most banks, they do not have any branches which allows them to offer much better interest rates than traditional banks. They have since branched out and offered investment products and mortgages through their sister companies. Many other companies have [...]
worst video player ever- after over2:00 there's still no video appearing 