BANKS

03.14 BREAKING NEWS: Russian Bank Run OUT of Western Institutions Underway

  by John Galt March 14, 2014 19:40 ET The headline does not mince any words as indeed, the Russians are getting the hell out of the West in what can only be called a bank run which appears to have been underway for possibly the entire week. CNBC shockingly covered this as the opening story on Larry Kudlow’s program tonight as well as it being one of the headline stories at the DrudgeReport. First the breaking news tonight from the Financial Times: Russian companies withdraw billions from west, say Moscow…


The Housing Problem is not Solved in Ireland Either

  by John Galt August  25, 2013 14:30 ET There is this ongoing myth that if a government sprays enough bull crap, the flowers that grow from the fertilizer will spring eternal and cover the rotting, disgusting smell still permeating the air. The United States led the way with the “tell the stupid citizens the economy is better” theory of economic manipulation and propaganda yet in reality, the bills to eat, own a vehicle, and enjoy the one luxury of a flushing toilet or electricity supersedes paying homage and tribute to…


8/23 Put on your Party Hats it’s FDIC Bank Failure Friday Again!

  by John Galt August  23, 2013 21:45 ET     Sheila Bair must be getting jealous. The FDIC resumed its war on small banks tonight by zapping two more while the big fish continue to poop on the regulators, the public, and steal the taxpayers blind. Tonight’s victims are not really shocking as the bank in Western Tennessee was already on the troubled list as real estate collapsed in that part of the state (Community Re-investment Act anyone?) while the second bank was in Arizona which is basically what Florida…


BREAKING NEWS 8/22 1630: Moody’s Places Goldman, Morgan Stanley, JP Morgan Chase, and Wells Fargo on review for downgrade

  by John Galt August 22, 2013 16:35 ET   Breaking now on all financial news channels, from Moody’s website: Moody’s reviews US bank holding company ratings to consider reduced government support Global Credit Research – 22 Aug 2013 Ratings on bank-level subordinated debt also affected New York, August 22, 2013 — Moody’s Investors Service has placed the senior and subordinated debt ratings of the holding companies for the six largest US banks on review as it considers reducing its government (or systemic) support assumptions to reflect the impact of US…


It’s Okay Because He’s Black

  by John Galt May 20, 2013 17:45 EDT I am officially now a racist according to the media, politically correct, and terminally stupid. I disagree with the path that our nation is on, the actions taken since 2004 in our country but even more so since 2009, and worse, I have this nasty tendency to tell it like I see it and that of course means I am a biased bigot to those who disagree. Shortly after assuming office, the current and unfortunate President of the United States engaged in…


2013 Part 6: The Real Reason for Immigration Reform

  by John Galt January 29, 2013 23:00 ET   The Kerfuffle of the Day (KoD) created by the globalist extremist left and the politicians looking to consolidate power and destroy the American way of life is a new “immigration” program designed to provide a pathway to amnesty, aka, citizenship. The Republicans trotted out the usual suspects plus their most dynamic RINO, Marco Rubio, who has agreed to become the face of this new idea by putting the old guard of Senators McTraitor and Graham into the background while giving a…


The 120 Days Which Decide Darkness or Light

  by John Galt September 4, 2012 22:30 ET     The question has been asked of me repeatedly via email and my radio show:   Why are the next 120 days so dangerous?   Instead of an in-depth cat and mouse game of “here’s why X may cause Y” I shall simple let my readers search previous pages posted here and elsewhere to form their own opinion. I fear that if we survive the next 120 days without a major natural or man made catastrophe which changes human civilization and…


BREAKING NEWS: Maximum Amount EU to offer for Spain Bank Bail out is € 100 Billion

  by John Galt June 9, 2012 13:18 ET   Per breaking news in El Confidencial in Spain, the maximum amount that Brussels will authorize is € 100,000 million (€ 100 billion) which means that Spain will be left on their own to fund any future or additional bail outs for their banking system. From the article translated using Google Translate(original in Spanish at this link):   The total amount of the ransom to Spain could amount to 100,000 million euros, according to sources at The Confidential financial and community sources…


Moody’s Downgrades Austrian Banks

  by John Galt June 5, 2012 19:30 ET   The hits for the Eurozone keep coming but these pages have been warning you for over a year that Austria was one of the high risk European Union nations due to its exposure to the PIIGS and more so its flailing neighbor Hungary.  Thanks to a persistently slowing economy in the PIIGS, Hungary, and as a result other Eastern European nations, Austria is in a particularly risky position due to the large number of home loans their banks provided to its…


The FDIC DIF Cost hits a New 41 Month Low

  By CalOkie May 27, 2012   Looking at this week’s new charts, we see a new 41 month low for the FDIC DIF (deposit insurance fund) cost. The cost paid by the FDIC this past month of May was only $19.7 million dollars.   Incredible …… just incredible.   This follows a two year downward trend where the FDIC DIF cost has plunged. So far the DIF cost incurred this year has been minimal. At the current rate of bank failures and DIF cost, we could very well see the…


5.9.12 AEP: Spain nationalises Bankia as euro crisis escalates

by John Galt May 9, 2012 19:45 ET   The latest from Ambrose Evans-Pritchard in tonight’s U.K. Telegraph highlights the sense of panic the European credit markets are reflecting behind the scenes: Spain nationalises Bankia as euro crisis escalates   How bad is it? Amborse hits the high point in this one portion of the story: “The Spanish have denied until now that there was any need for fresh capital so it comes as a surprise. It wasn’t intended, and that is a worry,” said Guy Mandy, credit strategist at Nomura….


And another European Nation’s Banking Problems hit the Fan

By John Galt November 4, 2011 – 05:20 ET From Bloomberg: Denmark Signals Banks Won’t See More Rescues From the article by Frances Schwartzkopff: “Danish banks are in better shape than their colleagues in other countries,” Corydon said in an interview in Copenhagen yesterday. “We have had four bank packages, and now the sector is consolidating.” Three lenders have failed since February, leaving senior creditors in the lurch and cutting off wholesale funding access for most of Denmark’s roughly 120 banks. At the same time, property prices are set to fall…


FDIC UPDATE: Lucky Sevens Ends the 17 Month FDIC DIF Cost Pattern

By Cal Okie November 2, 2011 – 22:30 ET Lucky Sevens Ends the 17 Month FDIC DIF Cost Pattern The FDIC DIF cost for October 2011 totaled an estimated 776.7 million dollars. Rounded out to the nearest million dollars we get 777 million dollars (lucky sevens?).  This total ends the well established 17 month DIF cost pattern. If the pattern would of held this month, we should have seen DIF cost between 1.1 – 1.3 billion dollars. So what’s next? We will just have to wait and see. What have we…


11/2 EU Credit Disaster continues: Greek 1 Year Bond Yields top 232%

By John Galt November 2, 2011 – 08:00 ET Charts from Bloomberg.com and no commentary beyond “the panic is accelerating” is necessary beyond what each nation’s yields are telling you: Greek 1 year soars over a 230% yield this morning: Italian 10 year yield stays stubbornly above 6% despite ECB intervention: Irish 10 year yields creep past 8% again as the idea that the Hellenic contagion will spread: Lastly, French CDS spreads are expanding again and heading towards 200 points which should be a red flag as the exposure of the…


Futures Reverse as Asia Sends Warning Shot across Eurozone

By John Galt August 11, 2011 – 08:11 The futures were skyrocketing overnight with the S&P up well over 15 points early this morning in Asian trading then comes this story from Reuters at 7:54 a.m. ET: Exclusive: One bank in Asia cuts, others review credit The key portion of the story: The head of treasury risk management for Asia at one bank in Singapore — which has a significant presence across the region — said their credit lines to large French banks had been cut because of the perceived risks…


No Picture

Is Regions Financial the next Indymac?

By John Galt June 13, 2011 This story from the Wall Street Journal this morning: Bank Probes Its Executives appears to indicate that the insiders who did not sell after the 2009 crash and burn may well regret their inaction. Region’s Financial is facing a slew of major obstacles including almost $4 billion in NPL’s (Non-performing loans), a real estate portfolio in Florida which is deteriorating in both credit quality and price, and not receiving regulatory permission from the Treasury Department to repay the $3.5 billion outstanding from the Troubled Asset…


No Picture

Don’t Worry, Be Happy, er, Never Mind, $3.6 Trillion Reasons to Panic

  April 14, 2011 Despite reassurances that they have the massive global financial forest fire under control, reality is speaking with a punishing story from Reuters last night: Banks Face $3.6 Trillion ‘Wall’ of Debt: IMF Published: Wednesday, 13 Apr 2011 | 11:59 PM ET REUTERS The world’s banks face a $3.6 trillion “wall of maturing debt” in the next two years and must compete with debt-laden governments to secure financing, the IMF warned on Wednesday. Oops. Maybe all those central banksters buying gold and silver are not so stupid after…


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