bank failures

Via Michael Shedlock, The Atlanta Journal-Constitution reviews the growing problem of zombie subdivisions, those half-built developments you often see from a highway. Developers broke ground for these subdivisions near the end of the housing boom, and abandoned them when the mortgage crisis hit and financing dried up. Now the subdivisions are a drag on surrounding [...]

Did you ever do something that, with the benefit of  hindsight, seemed really, really stupid and you wondered what exactly you were thinking at the time?
Imagine how the Federal Deposit Insurance Corporation must feel these days. The same agency that now says it needs to borrow $500 billion in emergency funds to take over failed [...]

A year ago, blogger Michael Shedlock pronounced Citigroup insolvent. No one paid much attention then, but Shedlock never wavered.
Now the U.S. government is in talks to significantly expand its ownership of Citi, the Wall Street Journal reports. And Shedlock, who writes the widely read Mish’s Global Economic Trend Analysis blog, thinks that move can’t come [...]

It’s Friday, which means the government is likely to announce the latest round of bank failures in the late afternoon. Calculated Risk expects commercial real estate to implode in 2009, meaning lots of small and regional banks may go under. So there’s something to look forward to.