It looks like you're using an Ad Blocker.
Please white-list or disable AboveTopSecret.com in your ad-blocking tool.
Some features of ATS will be disabled while you continue to use an ad-blocker.
"I work in the Default Aversion Dpt. for Student Loans, so I spend all day listening to the stories of people who fall behind on their payments (2-9 months).
Over time I hear everything from everyone, even worked with an actor once who I recognized by his voice when he called in.
So daily, all day long, I get to feel the pulse of what is going on in this country.
Here is my observation; It is getting worse, slowly, month by month. I can tell by the people's stories.
I heard a new one this week. A gal from Alabama was on the phone, she couldn't make her payments, she was cut to short hours at work (that is the most common problem these days, people have their hours cut but the bills remain the same).
Said her old childhood friend killed herself and her two children last week because she saw no way out.
I have talked to people who spent all night on the suicide hotline. Many are unable to discuss their financial situations because they see no hope. Even salesman (and they are always upbeat) are showing NO HOPE.
Each month it gets a little worse and this has been going on since late fall 2007.
Rick Wiles was saying the day will come where suicide will be the number one cause of death in this nation, I see it happening already, but not to the degree we might see in the future.
Outside of the people who have a strong faith in their maker, all I see is a general hopelessness and a lot of anger,, wow.. people are angry/frustrated."
two specific factors are principally responsible for low inflation in recent years: (1) declining import prices; (2) declining labor costs at home due to pressures from low import prices. Neither of these factors can be expected to control inflation forever. In reality they have merely postponed an inevitable outbreak of inflation. Interest rate and money supply management will not be enough to compensate for the structural imbalances and massive debts that have been accumulated.
Failed Bank List
First DuPage Bank Westmont IL 35038 October 23, 2009
Riverview Community Bank Otsego MN 57525 October 23, 2009
Bank of Elmwood Racine WI 18321 October 23, 2009
Flagship National Bank Bradenton FL 35044 October 23, 2009
Hillcrest Bank Florida Naples FL 58336 October 23, 2009
American United Bank Lawrenceville GA 57794 October 23, 2009
Partners Bank Naples FL 57959 October 23, 2009
More at Link...
Capmark Said Ready to File for Bankruptcy
Capmark Financial Group Inc., one of the nation's largest commercial-real-estate lenders, plans to file for bankruptcy as soon as this weekend, a person familiar with the situation said.
The much-expected move underscores the deep problems in the business-property market. After suffering from the collapse in residential mortgages, U.S. banks face steep losses from commercial real-estate loans. Capmark has originated more than $10 billion in commercial real-estate loans, according to Moody's Investors Service.
On Tuesday, March 11th, 2008, somebody — nobody knows who — made one of the craziest bets Wall Street has ever seen. The mystery figure spent $1.7 million on a series of options, gambling that shares in the venerable investment bank Bear Stearns would lose more than half their value in nine days or less. It was madness — "like buying 1.7 million lottery tickets," according to one financial analyst.
But what's even crazier is that the bet paid.
At the close of business that afternoon, Bear Stearns was trading at $62.97. At that point, whoever made the gamble owned the right to sell huge bundles of Bear stock, at $30 and $25, on or before March 20th. In order for the bet to pay, Bear would have to fall harder and faster than any Wall Street brokerage in history...
On Saturday, October 24, 2009, from 3:00 p.m. ET until 7:00 a.m. ET Sunday, October 25, 2009, Wells Fargo Investments, LLC will participate in an industry-wide disaster recovery exercise which may result in the brokerage website being unavailable for all or part of the event. Please contact us to place transactions if you are unable to access your account online during this exercise. We apologize for any inconvenience and we thank you for your patience.