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Originally posted by Tentickles
I'm still waiting with baited breath for that Bank Stress Test!
I want answers now dag nabbit!
Sorry, the Texan in me is comin out.
Originally posted by Rockpuck
Originally posted by Tentickles
I'm still waiting with baited breath for that Bank Stress Test!
I want answers now dag nabbit!
Sorry, the Texan in me is comin out.
I am still waiting for the $400 check they keep telling me Obama is sending me. I always seem to over qualify, or under qualify for these stupid handouts.. I wish I knew who's getting this round. I hope that $400 isn't that little tiny $14 less in fed taxes we see taken out of our checks.. I usually spend that at McDonalds...
And I found out today I still have to fill out a FAFSA form to go back to college.. apparently, living 3,400 miles from my parents, and having not lived with them since shortly after me 18th birthday, I am not an adult until 24 years of age? But like every other time I fill out these stupid bureaucratic forms I get denied anyways.. to white, to "rich" and far to manly. I feel like no matter what I do financially someone from somewhere far far away who will never lay eyes on me let alone meet me, takes a giant proverbial # on my head. I think I'll go tanning and claim I am half Native American.... sorry... I'm ranting aren't I?
More at Link...
Press Releases
www.fdic.gov...
Metcalf Bank, Lee's Summit, Missouri, Assumes All of the Deposits of American Sterling Bank, Sugar Creek, Missouri
FOR IMMEDIATE RELEASE
April 17, 2009
Media Contact:
LaJuan Williams-Dickerson
(202) 898-3876
E-mail: [email protected]
American Sterling Bank, Sugar Creek, Missouri, was closed today by the Office of Thrift Supervision, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with Metcalf Bank, Lee's Summit, Missouri, to assume all of the deposits of American Sterling Bank.
The Missouri offices of American Sterling will reopen on Saturday, and the offices in California and Arizona will reopen on Monday as branches of Metcalf Bank. Depositors of American Sterling Bank will automatically become depositors of Metcalf Bank. Deposits will continue to be insured by the FDIC, so there is no need for customers to change their banking relationship to retain their deposit insurance coverage. Customers of both banks should continue to use their existing branches until Metcalf Bank can fully integrate the deposit records of American Sterling Bank.
March Unemployment Rises In 46 States
Mitchell Jaworski -
AHN Reporter
Washington, D.C. (AHN) -
The Labor Department released a report on Friday that showed rising unemployment in 46 states for the month of March with 11 of those states posting jobless rates above 10 percent. Michigan, the state posting the highest amount of unemployment for a second straight month, saw its rate climb to 12.6 percent. The state has been burdened in recent months by massive layoffs by the big three automakers as they struggle to reduce operating costs and clear out inventory. Oregon was the only other state to post an unemployment rate above 12 percent, seeing a large jump from 10.7 percent to 12.1 percent in March. South Carolina and California followed with an 11.4 percent and 11.2 percent unemployment rate, respectively. North Dakota posted the lowest unemployment rate in March at just 4.2 percent. Two weeks ago, the Labor Department reported the U.S. unemployment rate had reached 8.5 percent in March, the highest level since 1983.
The news that the fed has secured more of currency swaps has some very disturbing implications:
1) There would be no need to secure these new agreements if the fed hadn’t already used most of its existing $308.8 billion in central bank liquidity swaps.
2) This implies that unwinding the Federal Reserves existing swaps would leave the US with close to 300 billion in foreign denominated debt.
3) This development also implies that much of the dollar’s recent rally has been artificially created by the Federal Reserve’s 300 billion currency swap intervention.
4) To date, the fed’s currency swaps have been presented as motivated by shortfalls in USD funding in foreign institutions. While this might have been true initially, it is now obviously false.
5) Considering that the fed is planning 15-fold increase in us monetary base, 300 billion in foreign debt could quickly turn into 3 trillion or more.
www.marketoracle.co.uk...
Conclusion: The fed’s use of currency swaps to boost the dollar shouldn’t surprise anyone. After all, this is the same fed which has let US Banks operate without reserve requirements, caused the housing bubble with low interest rates, and failed to regulate subprime mortgages. Opening credit lines which could help American banks finance a foreign capital flight falls right into place with the fed’s other actions undermining the US financial system.
More at Link...
Hard-Hit Town Can't Salvage DHL Jobs
Company's Pullout From Wilmington, Ohio Will Eliminate 8,000 Jobs From Community Of 12,000
www.cbsnews.com...
(CBS/AP) DHL Express said Friday it has decided to move U.S. hub operations for its international business to the Cincinnati/Northern Kentucky International Airport.
Company spokesman Jonathan Baker confirmed the move, after word leaked out following an announcement to employees Thursday night at Wilmington's DHL Air Park. The Wilmington News-Journal reported the announcement earlier Friday.
DHL will reactivate its automated sorting facility at the northern Kentucky airport and finish the move by mid- to late summer. DHL had used the Kentucky facility from 1983 until its move to Ohio in 2005.
More at Link...
Press Releases
www.fdic.gov...
Nevada State Bank, Las Vegas, Nevada, Assumes All of the Deposits of Great Basin Bank of Nevada, Elko, Nevada
FOR IMMEDIATE RELEASE
April 17, 2009
Media Contact:
LaJuan Williams
(202) 898-3876
E-mail: [email protected]
Great Basin Bank of Nevada, Elko, Nevada, was closed today by the Nevada Financial Institutions Division, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with Nevada State Bank, Las Vegas, Nevada, to assume all of the deposits of Great Basin Bank of Nevada.
The five offices of Great Basin Bank of Nevada will reopen on Monday as branches of Nevada State Bank. Depositors of Great Basin Bank of Nevada will automatically become depositors of Nevada State Bank. Deposits will continue to be insured by the FDIC, so there is no need for customers to change their banking relationship to retain their deposit insurance coverage. Customers of both banks should continue to use their existing branches until Nevada State Bank can fully integrate the deposit records of Great Basin Bank of Nevada.
Originally posted by theWCH
reply to post by Hx3_1963
If that Elliot Wave thingy that I posted a couple pages ago turns out to be accurate, gold is going down to $700, then it's going to shoot all the way up to $3,500.
Alas, I'm knew to EWT, and still trying to figure it out. My econ background and (until recently) belief in "efficient markets" poses a serious psychological hurdle for me.
Speaking of the efficient market hypothesis, has anybody seen this blog? Apparently this guy has been using a virtual account since October, and he's trying to either find somebody who will let him trade on an account, or he's going to wait until he can borrow from his 401k. Here's his report from March.
Major scam-potential here, but if it's true then this guy is my new hero. Or at least, he would be if it were real money.
[edit on 17-4-2009 by theWCH]