The 28 branches of 1st National Bank of Nevada and First Heritage Bank, operating in Nevada, Arizona and California, were closed Friday by federal regulators. picked by deEPCHIll 1 year ago

Billionaire investor and wealthiest man alive, Warren Buffett believes the Paulson Plan is necessary. He put his money where is mouth was by raising $10 billion in fresh capital for Goldman Sachs. News of this caused their share price to increase, netting him a $783 million profit in just hours (if he was to sell the shares) picked by 2manyusernames 1 year ago

The Norwegian Government Pension Fund, worth about $350 billion, is one of the largest piles of investment capital in the world. Its influence on the world is growing. picked by suebe 2 years ago

The Paulson Plan is not technically a bailout. The government isn't just giving the banks billions of dollars, they are purchasing loans at pennies on the dollar. The Feds can pump up the economy, increasing the ability of the loans to be repaid and end up with a huge profit. picked by 2manyusernames 1 year ago

The investment fund run by disgraced money manager Bernard Madoff may not have made even a single trade, a new twist in the scandal around an alleged $50 billion fraud that has engulfed thousands of investors and financial institutions worldwide. picked by equinox 11 months ago

The nationalization of even a handful of U.S. banks, which some analysts see as increasingly likely, would pose political problems for President Obama. picked by iamamaniac 9 months ago

Fears the U.S. will sink into a recession slammed head first into Wall Street on Wednesday, sending the Dow plunging to its worst percentage drop since October 1987.

An ugly report on retail sales served as a wake-up call for the markets, reminding Wall Street that even as the ailing credit markets appear to have improved, the economy is still in a precarious state. picked by ImNotBlue 1 year ago

For the last few years the global economy has been running on two engines, the U.S. on the consumption side and China on the production side, both lifting the entire global economy. That was then. picked by 2manyusernames 1 year ago

Historically, banks have always kept a certain amount of cash on hand to meet the needs of their customers (for ATM withdrawals and check cashing). Federal banking regulations have also mandated such reserves as a buffer in the event of crises or panics. In the 1970s, the Fed began decreasing the mandated reserve levels of cash, to the point that now the only $ banks have available is that which ... read full post picked by bingo 8 months ago

Wall Street had a stunning late-session turnaround Thursday, shooting higher and hurtling the Dow Jones industrials up more than 400 points after a report that the federal government may create an entity that will take over banks' bad debt.

They don't call it a roller coaster for nothing... picked by ImNotBlue 1 year ago

Iceland has elected a new Left-wing government after Johanna Sigurdardottir, the feminist leader of the Social Democrats and caretaker premier, swept to victory on the back of street protests that toppled the previous conservative government. picked by TheJehosephat 7 months ago

The last official act of any government is to loot the nation.

Is this how you succeed in Wall Street? By being rewarded for epic failure? picked by fugazi 1 year ago

Banks around the world are facing insolvency. Canada's banks however, are not. Why are things different for them? picked by 2manyusernames 1 year ago

The crippling blow dealt this week to FutureGen will make it harder for the utility sector to slash carbon-dioxide emissions and keep coal in the mix over time as a cheap electricity source. picked by mahler87 2 years ago

If you use an insecure OS in the UK and someone drains your bank account, the banks say it's your fault. The Register reports: 'The Banking Code produced by the British Bankers' Association (BBA), and followed by most banks, makes it clear that banks will not be responsible for losses on online bank accounts if consumers do not have up to date anti-virus, anti-spyware, and firewall software insta... read full post picked by extc68 2 years ago

In remarks to US lawmakers, Bernanke said the economy has weakened since the Fed's latest outlook prepared in January, meaning a contraction is likely.

Really? We knew this 6 months ago, and we're paying this asshat's salary??? picked by leehblanc 2 years ago

The ABA document also recommends banks use holding statements to keep queries at bay including blaming customers for jobs being sent overseas. picked by teaya21 3 years ago

As if you needed more proof that the fan is on and the monkeys are winding up... picked by fugazi 2 years ago

"Federal employees charged millions of dollars for Internet dating, tailor-made suits, lingerie, lavish dinners and other questionable expenses to their government credit cards over a 15-month period, congressional auditors say." picked by gammerus 2 years ago

The current global recession is "the most serious for over 100 years", cabinet minister Ed Balls has said.

*Mr. Balls* picked by Bornbad 10 months ago