Posts under ‘Bank Failure’

More Euro zone jitters. The failure of 1st National Bank of Milton, FL shows once again the ficition that is a banks balance sheet and mark to model accounting.

August ISM manufactuing comes in weak, prices paid falls again. Productivity and costs increase for a second quarter watch market valuations and profits.

B of A shirks the truth and demonstrates a lack of credibility. This summers real estate bounce is weak and ending prematurley. Consumer confidence plunges.

Strong personal income and spending data helped pushed stocks to nice gains to begin the week. B of A continues to raise money it doesn’t need.

Gold sells off hard after making nearly 1900/oz. Purchase mortgage activity hits a 15-year low. The CBO says don’t worry be happy, the deficits will disappear.

The Richmond Fed drops 9 points to -10. New home sales and prices fall in July. Wall St. doesn’t invest its own money like its clients. Blankfein lawyers up.

Despite little significant data stocks marked decent gains for a second day. Following the usual spring and summer pattern Case/Schiller reported that home prices increased in April with a gain of .7% for the 20-City Index, the first advance in 8-months. 13 of the cities tracked posted a gain, 6 hit new lows, LA and [...]

The European crisis continues as Greece gets cut to CCC, well into junk status. NY and Deleware AG’s go after Deustche and Bank of NY Mellon over MBS Trusts.

Import prices gain 2.2% but energy slips. B of A loses a significant case in Michigan as the judge finds violations of Trust Law and the PSA’s controlling MBS.

Another Greek bailout. Chicago PMI plunges 11 points in April. Case/Schiller reports a new record low for real estate in the Q-1, banks face growing risks.