- BIS, The Central Bank of all Central Bankers: The Central Bank WAS Warned in 2003 (Repost)
- Roach: The Financial Crisis Isn’t Over (Video on page)
- Broke (Video Outtake)
- Earnings results at Swedish banks show large writedowns in Baltics
- Michael Covel on IndyMac (Video)
- CIT: More than $1.5 billion in losses, No FDIC Guaranteed Debt
- CNBC Attempts Assasination on Barofsky (Video)
- California Comes to Cowardly Compromise
- Commercial mortgages, mortgage re-sets to trigger NEXT U.S.down-leg
- Rep. Cliff Stearns not heart GS
I respectfully suggest reading the entire piece.
Swedbank, the largest lender in the Baltics, posted net losses of SKr2.01bn ($257m), compared with net profits of SKr3.6bn a year earlier.
It was the bank’s second consecutive quarterly loss and much worse than the SKr1.27bn deficit forecast by analysts.
Loan losses soared from SKr423m a year ago to SKr6.67bn, with about two-thirds of the amount in the Baltics and a third in Ukraine.
In response, the bank said it planned to reduce staff by 3,600, about 16 per cent of its workforce, by this time next year, with most of the cutbacks in the Baltic states.
See losses of more than $1.5 billion.
Insufficient liquidity.May seek bankruptcy without successful tender offer.
California governor Arnold Schwarzenegger and the idealogues in the state legislature proclaimed they have “solved” California’s budget-gap impasse. In reality, all they did was postpone dealing with the problem by creating a much bigger shortfall next year.
The U.S. commercial mortgage market is huge. With a total size of $6.7 trillion, the commercial real estate market accounts for 13% of total GDP, all by itself. In comparison, the (total) U.S. residential mortgage market is roughly twice as large. However, what must be noted is that the U.S. real-estate crash was caused almost entirely by the sub-prime real estate market. It’s only this year that “alt-A” and now “prime” mortgages are also hitting record default levels.
Rep. Cliff Stearns not heart GS[video:http://www.youtube.com/watch?v=4MH_oz9f1E4&feature=player_embedded]