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FDIC List of Banks in Danger of Failure Soars

Tue, 02 Sep 2008 02:28:00 GMT

Time to Begin a New Game with New Rules

Wed, 13 Aug 2008 00:31:00 GMT

Last week, Congress passed a housing bill that gave the Treasury Department a blank check to inject billions of U.S. taxpayer dollars into mortgage giants Fannie Mae and Freddie Mac, snatching them from insolvency. To accommodate this blank check, Congres[More...]

Banks are at Make-or-Break Point

Tue, 12 Aug 2008 19:01:00 GMT

The bank stocks are vital to the market. The banking industry is basically the barometer of the broader economy. The economy expands when banks are healthy and lending. Conversely, the economy contracts when banks are sick and credit is tight.[More...]

Time to Move

Wed, 30 Jul 2008 05:31:00 GMT

Yesterday, in "The WSJ on FDIC Insurance," I highlighted a Wall Street Journal article that provided a solid overview of the ins and outs of deposit insurance. But knowing that people are often loathe to take defensive measures until it's too late, I'm sure that some of those who've heard the warnings and who are aware of the system's shortcomings have not yet done what is necessary. Well, Edward Harrison over at Credit Writedowns blog had an interesting post, "Two IndyMac Customers Lost Unsecured Deposits," that will hopefully convince those who've been holding back to get off their behinds[More...]

Defense Strategy

Tue, 29 Jul 2008 05:20:00 GMT

The EIS portfolio is now substantially out of the stock market and in cash. What sort of an energy investment strategy is cash? It’s the strategy you might want to employ when you judge that 1. All stocks are likely to decline, taking energy stocks dow[More...]

Is Your Money Really Protected from Credit-Market Chaos?

Mon, 28 Jul 2008 22:30:00 GMT

The ongoing credit-crunch continues to shake-up financial markets in unexpected and frightening ways. It's hard to keep up with the fast-growing list of financial sector casualties. Just ...[More...]

Capital Markets in the US are in Complete Shambles

Fri, 25 Jul 2008 22:23:00 GMT

The news of the day was something I am sure most of you out there heard little about. The news was that the National Australia Bank wrote down its book of CDO's to the tune of 90%. That means 10 cents on dollar. The implications of this for the U.S. finan[More...]

Whither The Precious Metals Markets?

Fri, 25 Jul 2008 15:56:00 GMT

Have precious metals peaked? Holiday demand could see gold riseNew silver mines bringing surplus to marketSigns unclear for platinum?[More...]

Prepare to Profit From the Trillion Dollar U.S. Budget Deficit

Fri, 25 Jul 2008 11:51:00 GMT

By Martin Hutchinson Contributing Editor The federal budget deficit hasn’t received a lot of press lately, what with all the worries about the U.S. financial system, the home mortgage...Money Morning is here to help investors profit handsomely on this seismic shift in the global economy. Money moves markets. But Money Morning lets you move first. [More...]

What is Behind the Slide in Oil and Commodities?

Thu, 24 Jul 2008 19:23:00 GMT

On the morning of July 15th, the price of crude oil, the most widely watched commodity in the world, was gyrating in a narrow range, just above $145 /barrel, as dealers in London were position-squaring ahead of the Nymex opening.[More...]

Bank Ads Highlight Financial Stability: First Citizens, BB&T Try Reassurance

Tue, 12 Aug 2008 12:02:00 GMT

Aug. 12--First Citizens Bank's new ad campaign stresses the bank has been around for more than a century and boasts that its current finances are ranked "superior" by an independent rating service.
Similarly, a current BB&T radio ad notes that the bank opened its doors in 1872 and proclaims: "What we do isn't based on financial fads or market situations, but rather on what we believe is the right thing to do."
"I think that is what some of the banks like BB&T and First Citizens are trying to accomplish in their ads."

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BB&T Chief to Give Address at Annual Summit: Analysts Will Give Local Economic Forecasts for Year

Sun, 03 Aug 2008 13:49:00 GMT

Aug. 3--All roads lead back to the banks.
At this year's Growth Summit on Friday, the public will get a chance to hear from the head of one of the Grand Strand's largest banks -- BB&T's chairman and chief executive officer, John Allison.
Allison is a natural fit to keynote this year's summit, which comes after weeks of turmoil and change at the largest banks and lending businesses in the world, said Henry Lowenstein, dean of the Wall College of Business at Coastal Carolina University, one of the summit's sponsors.

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IndyMac Bancorp Files Chapter 7 Bankruptcy

Sun, 03 Aug 2008 07:48:00 GMT

PASADENA - IndyMac Bancorp Inc., the Pasadena-based mortgage lender taken over by federal regulators last month, has filed for bankruptcy protection.
"Our customers will continue to receive the same value and personal service they have come to expect from IndyMac, which, due to its FDIC backing is one of the safest banks in America and a great place for our customers to keep their funds," Bovenzi said in a prepared statement.
On Thursday, 110 IndyMac employees - ranging from rank-and-file workers to some in upper management - were laid off, according to IndyMac Federal Bank spokesman Evan Wagner.

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Taking It to a Bank

Sat, 02 Aug 2008 07:46:00 GMT

Where should I put my money?
That's the question many consumers are asking themselves following last month's takeover of IndyMac Bancorp Inc. by federal regulators.
The collapse of IndyMac - which now operates as IndyMac Federal Bank FSB under control of the Federal Deposit Insurance Corp. - sent a wake-up call to consumers that the housing crisis is taking a serious toll on the nation's banking sector.

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Deposits Safe in Yuma Banks That Are FDIC-Affiliated

Sat, 02 Aug 2008 00:07:00 GMT

Aug. 1--Local consumers should not fear for assets that are deposited in federally insured institutions, local bankers say in response to growing concerns about the banking industry.
With the recent Federal Deposit Insurance Corp. (FDIC) takeover of IndyMac Bancorp, based in Pasadena, Calif., the media has increased scrutiny unfairly on the whole of the banking industry, says Terry W. Frydenlund, president and chief executive officer of 1st Bank Yuma.
To ease confusion, guidelines and tips have been released with the support of the Independent Community Bankers of America (ICBA), a representative organization for more than 5,000 community banks across America.

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What's the Value of a Human Life? . . .... [Derived Headline]

Sat, 26 Jul 2008 18:50:00 GMT

What's the value of a human life?
We do have an answer, courtesy of our national nanny -- the federal government.
You are worth nearly $1 million less than your $7.8 million value five years ago.

[More...]

Have Banks Bottomed Out?: Despite Stock Price Jump for Many This Week, Analysts See Problems Continuing

Sat, 19 Jul 2008 10:03:00 GMT

Jul. 19--Don't break out the bubbly just yet.That's the thinking of several bank watchers who, despite seeing financial services stocks end the week on a high note, say the worst probably isn't over as the credit crisis approaches its one-year anniversary.
As the week started, many braced for the worst.
The news drove down the KBW Bank Index by 8.5 percent on Monday.

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UPI NewsTrack Business - Jul 17 2008 6:07PM

Thu, 17 Jul 2008 22:02:00 GMT

U.S. markets extend rally Thursday
NEW YORK, July 17 (UPI) -- U.S. stock markets extended a rally through a second day Thursday, closing with strong gains in financial concerns.
By close Thursday, the Dow Jones industrial average was up 207.38 points to 11,446.66, up 1.85 percent.

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Bank Stocks Suffer Heavy Toll: Investors Flee Amid Fears of Mounting Crisis in Industry

Tue, 15 Jul 2008 18:03:00 GMT

Jul. 15--Prices of bank shares plunged widely Monday and, in one case, trading of National City Corp. stock was halted temporarily on a day when fallout from the mortgage meltdown continued to infect local financial institutions.
Investors fled the sector amid fears that the lending crisis could snowball and create more bank collapses, such as Friday's seizure of IndyMac Bancorp Inc. Problems at mortgage giants Fannie Mae and Freddie Mac also ignited worry that there is more trouble ahead for lenders whose fortunes are tied to real estate.
The moves helped calm the overall stock market Monday, suggesting that investors did not fear that a full-blown crisis is imminent.

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UPI NewsTrack Business - Jul 15 2008 11:54AM

Tue, 15 Jul 2008 15:48:00 GMT

U.S. markets slide on banking fears
NEW YORK, July 15 (UPI) -- U.S. stock indexes slid Tuesday morning with a renewed focus on troubled banks.
The 10-year U.S. Treasury note gained 12/32 to yield 3.815 percent.

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Attention IndyMac Bancorp, Inc. Common and Preferred Shareholders and Preferred Unitholders: Law Offices Bernard M. Gross, P.C. Filed Lawsuit -- IMB

Tue, 15 Jul 2008 09:59:00 GMT

Law Offices Bernard M. Gross, P.C. has commenced a class action lawsuit in the United States District Court, Central District of California, on behalf of purchasers of the common and preferred stock and preferred units of INDYMAC BANCORP, INC. between August 16, 2007 and May 12, 2008, inclusive , pursuant to the Securities Exchange Act of 1934.[More...]

BeaconEquity.com Issues Technical Trade Alerts on Financial Stocks: LEH, FRE, FNM, IMB, WM, NCC, WB, JPM

Tue, 15 Jul 2008 09:23:00 GMT

BeaconEquity.com announces the availability of a Technical Trade Alert for financial stocks making news today.[More...]

Federal Seizure of IndyMac Bancorp, Inc. Will Not Impede Investor Class Action Announces Scott+Scott LLP -- IMB

Sat, 12 Jul 2008 17:48:00 GMT

In what federal regulators are calling the second-largest U.S. bank failure in history, mortgage lender IndyMac Bancorp, Inc.'s operations have been taken over by the Federal Deposit Insurance Corp. , the regulator that oversees the retail bank. The Office of Thrift Supervision said it shut down IndyMac on Friday and that a successor institution, IndyMac Federal Bank, will be opened on Monday.[More...]

Investor Class Action Continues Against IndyMac Bancorp, Inc. Reports Scott+Scott LLP -- IMB

Wed, 09 Jul 2008 19:22:00 GMT

down almost 99% from IndyMac's share price of over $36 just one year ago. On Tuesday, the company reported that depositors have been withdrawing cash at what IndyMac refers to in a regulatory filing as 'elevated levels.' In additional news, the company indicates that it will also be selling more than 60 of its retail mortgage branches.[More...]

Indymac Issues Stakeholder Letter

Mon, 07 Jul 2008 20:23:00 GMT

Indymac today issued the following letter to its stakeholders:[More...]

Scott+Scott LLP Files Class Action Lawsuit Against IndyMac Bancorp, Inc. On Behalf of Investors -- IMB

Tue, 01 Jul 2008 18:33:00 GMT

On June 30, 2008, Scott+Scott LLP filed a class action against IndyMac Bancorp, Inc. and certain officers and directors in the U.S. District Court for the Central District of California. The action is on behalf of those purchasing IndyMac common stock during the period beginning August 17, 2007 through May 11, 2008, inclusive , for violations of the Securities Exchange Act of 1934. The complaint alleges that during the Class Period, defendants issued materially false and misleading statements regarding IndyMac's business and financial results and, as a result, the price of the Company's securities were inflated during the Class Period, thereby harming investors.[More...]

BeaconEquity.com Issues TraderNotes on Active Stocks: XSNX, ASTM, IMB, ACUS, PWAV, OPWV, OPTV, LUNA

Tue, 01 Jul 2008 13:15:00 GMT

BeaconEquity.com announces the availability of TraderNotes on stocks making news today.[More...]

The Brualdi Law Firm Announces Class Action Lawsuit Against IndyMac Bancorp, Inc.

Fri, 27 Jun 2008 20:20:00 GMT

The Brualdi Law Firm P.C. announces that a lawsuit has commenced in the United States District Court for the Central District of California on behalf of purchasers of IndyMac Bancorp. Inc. common stock during the period between August 16, 2007 and May 12, 2008 .[More...]

Brower Piven Encourages Investors Who Have Losses in Excess of $100,000 From Investment in IndyMac Bancorp, Inc. to Inquire About the Lead Plaintiff Position in Securities Fraud Class Action Lawsuit Before the August 11, 2008 Lead Plaintiff Deadline

Wed, 18 Jun 2008 19:38:00 GMT

Brower Piven, A Professional Corporation announces that a class action lawsuit has been commenced in the United States District Court for the Central District of California on behalf of purchasers of the common stock of IndyMac Bancorp, Inc. between August 16, 2007 and May 12, 2008, inclusive . No class has yet been certified in this action.[More...]

Stull, Stull & Brody Announces Class Action on Behalf of Shareholders of IndyMac Bancorp, Inc.

Mon, 16 Jun 2008 22:51:00 GMT

Attorney Advertising. Notice is hereby given that a class action has been commenced in the United States District Court for the Central District of California on behalf of purchasers of the common stock of IndyMac Bancorp, Inc. between August 16, 2007 and May 12, 2008 .[More...]

Form 3/A MORGAN STANLEY INSURED For: Sep 16 Filed by: Takian Randy (10K)

Thu, 16 Oct 2008 20:24:00 GMT

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