Posts tagged as:

banks

Stressed businesses stressing local banks

by Moe Bedard

The latest Federal Deposit Insurance Corp. reports show that all eight of the national and regional banks doing business in the Pensacola area as well as five of the eight locally based banks are seeing the fallout from a stressed commercial market.

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Lenders 1 & Consumers 0 in the financial reform game

by Moe Bedard

WASHINGTON – As Congress this week inches toward a new set of rules to avert another global financial collapse, it is focused on two conflicting goals: reforming the banking system to protect consumers while still giving lenders the freedom to take risks.

So far, the score looks like: Bankers 1, Consumers 0.

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Video: Citi CEO Vikram Pandit speaks about his bank

by Moe Bedard

Pandit Says Citi Playing Critical Role in U.S. Recovery March 4 (Bloomberg) — Vikram Pandit, chief executive officer of Citigroup Inc., talks with Bloomberg’s Erik Schatzker about the role of the company in supporting the U.S. economic recovery. Pandit also discusses his testimony today before the Congressional Oversight Panel for the Troubled Asset Relief Program [...]

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It could be 10 years before banks get out of this mess

by Moe Bedard

“This is absolutely the worst market I’ve seen,” said Hawking, a commercial lender for 30 years who is chief lending officer at Crestview Hills-based Bank of Kentucky Financial Corp. “I never thought I’d see property values drop 30 to 50 percent and demand so tepid with prospects so uncertain. If a bank has exposure to [...]

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Florida court ruling show banks may be fined for foreclosure delays

by Moe Bedard

Can Florida banks be held financially accountable for purposely delaying condo bank foreclosure sales? A new South Florida circuit court ruling says yes.
Amid a growing clamor for Florida banks to bear more of the financial burden caused by widespread condo foreclosures, the Miami-Dade Circuit Court case settled last week shows an example of associations turning more

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Cramdown Safe Harbor Protection for Servicers Under Attack

by Moe Bedard

By Moe Bedard
It seems that Main Street isn’t the only important party angered by safe harbor clauses in the pending cramdown bill, mortgage investors are agitated as well. While Main Street looks at safe harbor clauses as an appeasement to banks to allow cramdowns under extreme circumstances, mortgage investors are also asking themselves…”Hey, wait a [...]

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An Unbalanced Equation

by Moe Bedard

By Moe Bedard
Major banks except Citi have formally cut off all negotiations with the Senate in an effort to limit even further the scope of the cramdown bill. Senators from both sides of the isle have given up hope on further developments as well. Bloomberg’s report on the cramdown bill today seems like the last [...]

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A Political Slight of Hand

by Moe Bedard

By Moe Bedard
While the cramdown bill dies, providing evidence of our representative’s willingness to sell us out, some may say that our representatives have already passed legislation to help Main Street like the foreclosure bill and the Hope for Homeowners plan. Whereas it may seem like these two programs are designed to help us, upon [...]

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Banks Starting to Walk Away on Foreclosures

by Moe Bedard

SOUTH BEND, Ind. — Mercy James thought she had lost her rental property here to foreclosure. A date for a sheriff’s sale had been set, and notices about the foreclosure process were piling up in her mailbox.
Ms. James had the tenants move out, and soon her white house at the corner of Thomas and Maple [...]

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Verifying legitimate bank websites

by Moe Bedard

This can be important because there are many ways to be tricked into thinking you are at, for example, a bank website, when you are really viewing a well-crafted, scam copy designed to steal personal information. Flagfox can go a long way toward verifying that you are really looking at the website you expect. Anyone [...]

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Is Obama for the People or the Banks?

by Moe Bedard

Let’s get something straight here America.
The President of the United States is to work for the common good of the people for which they represent and serve. Yes, represent and serve. They do not take the oval office to work for the “special interests” of corporate America and the money that fills their campaign buckets.
Or do they?

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Cramer Says the Banks are All Fiction – Lies

by Moe Bedard

It’s real. I’m real. Jim Cramer tells the truth. I tell the truth.  He says it’s all fiction. Just like I knew it was fiction.
I hope you watch this video if you want to see what our country’s economy is heading for. It’s not looking good.
Why isn’t the Securities and Exchange Commission getting more involved in [...]

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“I believe that banking institutions are more dangerous to our liberties than standing armies” – Thomas Jefferson

by Moe Bedard

“I believe that banking institutions are more dangerous to our liberties than standing armies. If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around [the banks] will deprive the people of all property until their [...]

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