The economy is getting better, but people are still losing their jobs, and banks are still going bankrupt. At least we are told it’s getting better. They need someway to keep the engines running on Wall Street.
Although BankUnited is a regional player, it’s still somewhat of a larger bank, with nearly 14 billion in [...]

There is an All State Insurance commercial currently running on televisions in the United State that talks about how the company was created in the middle of the great depression, and how they have been around for the 7 or so recession since. The actor in the commercial says that when the fear subsides, and [...]

In banking size does matter, and when a big bank fails it has the potential of taking down the whole economy as many experts say the failure of Lehman Brothers did in 2008. But much of the American banking system is built on smaller, community banking institutions rather then the mammoths of Wall Street like [...]

A letter was posted on NYTimes.com (contents are included below).  Please read it.  It is a letter from an AIG employee (now former) Jake DeSantis to Edward Liddy.
I know I have had the opinion that bonuses to the employees at AIG are absurd, especially in the amount specified.  I hadn’t thought the whole thing out [...]

This bank is too big. That company is too important. Those manufacture employee to many people.  We hear it again, and again. Yes, these are big companies. Yes these companies employee many people, and yes if these people loss there jobs, the market will get worse.
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The only question is, is it better to take [...]

You never know, it might be a good thing. This way they can transfer ownership to Social Security administration and we can get what Bush wanted all along, our safety net in the hands of Wall Street. Because they’re so good a managing money!
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If a business is not working correctly, the system already has a [...]

More bailout money might be needed for the US automakers, and although “I Love me some chevy’s”, I don’t get the point any more. It would be cheaper for all Americans to just buy the cars directly for full MSRP prices then to continue to throw money at these companies. At some point, and I [...]

There is an old feeble that we read to children in the hopes of teaching them a lesson about life; A little boy scrams out that he saw a wolf, just to get everyone’s attention. After doing it a few times, and having all the towns people come to his rescue the town’s people catch [...]

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Last week we wrote about the possible failure of Trump Entertainment Resorts in Companies Who Could Fail in 2009.  Confirmation reported by Wall Street Journal today that Donald Trumps casino is expected to file Chapter 11 of the Bankruptcy Code on Tuesday morning.
The move could affect 9500 employees.  This is expected after the stock has [...]

Something’s gotta give at Sirius XM. �
As of Sept 30th 2008 they had $360 million in cash and $2.8 billion of long-term debt.  On February 17, 2009 — Sirius has $300 million in debt due to mature. �
Echostar has stepped in and purchased part of that $300 million.  Echostar isn’t playing their cards too close, [...]

I read two articles today that pertain to General Motors and the fight going on between the US government (on behalf of taxpayers) and prior creditors. �
Everyone is fighting for first position in line when General Motors goes into bankruptcy. �
Read the articles:
The Huffington Post – Crysler, GM Bankruptcy Looming in Detroit
The government has known [...]

President Obama, in a press conference Monday, talked at great length about stemming the current job losses at American companies. That said, looks like GM is not going to be one of the companies that help’s keep Americans in their jobs.
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Bailouts seem to not be working based on the continued reductions in staffs and [...]

Yahoo posted an article on Friday — 15 Companies That Might Not Survive 2009.  It’s a list of many companies that we take for granted are around.  Not only do we take for granted having their products, but their jobs!  On this list are over 351,500 jobs on the line.  That’s scary. �
Not all of [...]

There are a lot of banks in the US that are need of a help. TARP was design to help trouble banks, by created a avenue for them to continue lending and therefore making money from what should be there primary business, lending.
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TARP came a little too late for some institutions and was used [...]