Obama sinkhole recipe: Hey, let’s create a new, government-run infrastructure bank!
Posted by admin / Under Bank Of America Home Loans
It’s actually not a “new” idea. It’s an old, recycled one borrowed from corruptocrat Democrat Sen. Chris Dodd, who sponsored a bill to create a federally-operated “infrastructure bank” in 2007. President Obama tried to get $5 billion in funding for one in his 2010 budget and $4 billion is proposed for one in his 2011 budget. Democrat Rep. Rosa De Lauro is pushing a House version — and her expansive, pipe-dream plans tell you all you need to know about what a disastrous, costly slush fund this thing would inevitably grow into: Ms. DeLauro’s plan would create an infrastructure bank...
Published on Tuesday 7th of September 2010 11:56:16 PM
President mulls new measures to spark economy (establishment of an Infrastructure Bank)
Posted by admin / Under Bank Of America Home Loans
President mulls new measures to spark economyBy the CNN Wire Staff September 6, 2010 10:07 a.m. EDT Washington (CNN) -- On this Labor Day, the White House will put its focus squarely back on the economy, following a week where the Obama administration concentrated on Middle East peace talks and the end of America's combat role in Iraq. The address will be the first of two speeches this week in which President Barack Obama will try and frame his administration's response to the recession, less than two months ahead of midterm elections where Democratic majorities in the House and Senate...
Published on Tuesday 7th of September 2010 11:56:16 PM
Karzai's brother calls for U.S. to shore up Kabul Bank as withdrawals accelerate
Posted by admin / Under Bank Of America Home Loans
As depositors thronged branches of Afghanistan's biggest bank, Mahmoud Karzai, the brother of the Afghan president and a major shareholder in beleaguered Kabul Bank called on Thursday for intervention by the United States to head off a financial meltdown. "America should do something," said Karzai in a telephone interview, suggesting that the U.S. Treasury Department guarantee the funds of Kabul Bank's clients, who number about a million and have more than a billion dollars on deposits with the bank. Kabul Bank handles salary payments for soldiers, police and teachers. It has scores of branches across Afghanistan and holds the accounts...
Published on Tuesday 7th of September 2010 11:56:16 PM
The Federal Reserve Wants To Hide 'Bad Lemon' Banks For Another Three Months
Posted by admin / Under Bank Of America Home Loans
The Federal Reserve has asked a U.S. appeals court to delay disclosure of emergency lending provided to banks during the crisis... Is the financial system still not strong enough for the market to know the truth? The view seems to be that we're not ready. Thing is, longer-term the markets would probably be better off if they weren't denied this basic information -- Such as which banks received more or less support from the government ...
Published on Tuesday 7th of September 2010 11:56:16 PM
Unofficial Problem Bank List increases to 840 institutions
Posted by admin / Under Bank Of America Home Loans
The Unofficial Problem Bank List grew by more than five percent this week as the FDIC released its enforcement actions for July 2010. This week, there were 28 additions and 5 removals. Also, the list was updated to reflect assets as of the second quarter. For institutions on the list since the first quarter, aggregate assets declined by $13.9 billion... Among the 28 additions are TIB Bank, Naples, FL ...Geographically, the additions include 5 institutions from Illinois, 4 from Florida, and 3 from Minnesota. Next week, the FDIC likely will release the Official Problem Bank List as of June 30th.
Published on Tuesday 7th of September 2010 11:56:16 PM
"I had to stop driving my car for a while... the tires got dizzy."
This Day In History
St. Augustine: the oldest permanent European settlement in the US was founded (1565)
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