Charting Stocks

Omni National Bank was shut down on Friday by the OCC (Office of the Comptroller of the Currency). The OCC appointed the FDIC as receiver.
Omni National Bank had total assets of $956.0 million and total deposits of $796.8 million. At the time of closing, there were approximately $2.0 million in uninsured deposits that potentially [...]

Private gains through public risk.
In the latest of public subsidies handed out to private corporations, GE Capital will sell debt this week under the Federal Deposit Insurance Corp.’s (FDIC) Temporary Liquidity Guarantee Program. GE will enjoy a very low cost of borrowing as it issues bonds backed by the full faith and credit of the [...]

Amid growing rumors of bank nationalization, which the WSJ and Dow Jones attribute to ChartingStocks.net, the great wealth destroying CEO of Bank of America felt obliged to give an emergency interview  yesterday to play down talks of government takeover.
“When you talk about nationalization of Bank of America, it becomes absurd. What it appears to [...]

Pinnacle bank of Oregon becomes the 4th bank failure this weekend and the 13th this year.
The Oregon Division of Finance and Corporate Securities closed Pinnacle bank this Friday. The FDIC has announced that Washington Trust Bank in Spokane, Washington has agreed to assume all of the deposits of the failed bank.
Pinnacle Bank had assets of  [...]

The Federal Deposit Insurance Corp. (FDIC) announced  the failure of two more US banks (#10 and #11 for the year).

Nebraska -based Sherman County Bank was closed by regulators Friday, marking the 10th bank failure of the year. Sherman County Bank had roughly $129.8 million in assets as of Feb. 12, and $85.1 million in deposits. [...]

What Friday would be complete without a bank failure (or two)?
Federal regulators shut down a bank in Southern California and another in the Atlanta area today, bringing the number of U.S. failures this year to eight in almost as many weeks. This is the 33rd collapse since the depression began.
Federal Deposit Insurance Corp. announced that [...]

Straight from the horses mouth. Click the image for a better view.

Source: Bloomberg, Federal Reserve, FDIC, FHA, Treasury Dept.

Are you one of the millions of Americans that has a portion of their retirement assets in annuities? If so, you MUST read this.
Thanks to their hefty brokerage commissions, annuities have become one of the most widely sold and marketed financial products in the US today. Variable annuities have upfront sales costs which range from [...]