Federal Regulators Take Over Two More Failed Banks

The Associated Press reports from Carson City, Nevada: "US regulators took over two banks on Friday and sold them to Mutual of Omaha Bank, the sixth and seventh bank failures this year as financial institutions struggle with a housing bust and credit crunch. Two weeks after the Federal Deposit Insurance Corp seized IndyMac Bancorp Inc., the Office of the Comptroller of the Currency said it closed First National Bank of Nevada and First Heritage Bank NA of California."

//www.truthout.org/article/federal-regulators-take-over-two-more-failed-banks

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The way to ruin with Fannie and Freddie

Nolan Chart
by Walt Thiessen

Anyone who cares about the health of the US economy should despise the enactment of the Treasury’s rescue plan for Fannie Mae and Freddie Mac, along with other measures to support the housing market. I confess that I took that sentence from the first sentence of Professor Lawrence Summer’s essay in the Financial Times and changed one key word. I changed ‘welcome’ to ‘despise.’ Psst … hey buddy … wanna buy a mortgage?

//www.nolanchart.com/article4346.html


Informant: Thomas L. Knapp



//freepage.twoday.net/search?q=housing
//freepage.twoday.net/search?q=mortgage
//freepage.twoday.net/search?q=Fannie
//freepage.twoday.net/search?q=Walt+Thiessen

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