Photo from AFP.FDIC: 'Problem' Banks at 775 -- Wall Street Journal
WASHINGTON—A total of 775 banks, or one-tenth of all U.S. banks, were on the Federal Deposit Insurance Corp.'s list of "problem" institutions in the first quarter, as bad loans in the commercial real-estate market weighed on bank balance sheets.
Poor loan performance in other sectors also continued to hurt banks, with the total number of loans at least three months past due climbing for the 16th consecutive quarter, FDIC officials said in a briefing on Thursday.
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More News On The World's Financial Crisis
Stocks climb a day after biggest drop in a year -- Yahoo News/AP
Financial Stocks Turn Higher After Senate Passes Reform Bill -- Wall Street Journal
After Senate passage, what's next for financial reform bill? -- Christian Science Monitor
Wall Street Firms Brace for Seismic Changes -- Wall Street Journal
Whatever Germany does, the euro as we know it is dead -- The Telegraph
Lawmakers in Germany Back Rescue for European Debt -- New York Times
Markets take fright at political moves -- Financial Times
US, Britain and Germany to discuss debt crisis -- Yahoo News/AP
'Perfect storm' as market tremors hit China, Europe and the US -- The Telegraph
Fed official: Europe's crisis poses risks to US -- Yahoo News/AP
My Comment: In case anyone is wondering why I did this particular financial post, if history is any indication financial crisis across borders tend to always preceded major wars.
3 comments:
"financial crisis across borders tend to always preceded major wars"
can you give some examples?
Hyperinflation during the Weimer Republic (and elsewhere in Europe) led to the election and subsequent rule of Hitler. Benito Mussolini came to power at the height of the downturn in his country. Taxes without representation during the economic recession in the U.S. colonies led to the American revolution.
but that is really an oversimplification @ Germany
As it was not just the hyperinflation that led to the rise of Hitler, but very much the fundamental lack of acceptance of democratic values within Germany (which were dictated upon Germany, after the lost 1st world war), combined with previous high unemployment, masses of soldiers from the first war, that were easily seduced in joining the "state police", a very weak democratic government AND on top of that juridical problems (loopholes) within the constitution that were exploited by Hitler.. oh and all that combined with the fear of Socialism and the so called Dolchstoßlegende (stab-in-the back legend), which claimed that the first war was lost due to socialists, stabbing the soldiers in the back, rather than the failures of the government and military...
it really was not just the financial problems..
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