Bank Collapse Watch: Number Nine Falls

Columbian Bank and Trust of Kansas Closed by U.S. Regulators
Aug. 23 (Bloomberg) — Columbian Bank and Trust Co. of Topeka, Kansas, was closed by U.S. regulators, the nation’s ninth bank to collapse this year amid bad real-estate loans and writedowns stemming from a drop in home prices.
The bank, with $752 million in assets [...]

England: Land Of The Doomed West

Former police inspector arrested after confronting gang who threatened to kill him
A retired police officer, who bravely challenged yobs when a beer can was thrown at his car late at night, was horrified to be later arrested himself and thrown in a cell.
Former Inspector Paul Lawson, 52, intended to make a citizen’s arrest, but sensibly [...]

Quote: Matt Fraction

same shit, different day
More evidence in the Siegel case against DC, dating from 1938 - 1947. Here’s a peach, from exhibit B, which shows use of that most dependable and passive-aggressive classic, time-honored and revered by bullies, pimps, and producers of neither talent nor vision everywhere, in any industry, since time began: don’t forget, we [...]

Coming: American Revolution 2.0

Oh the saboteurs. The saboteurs are right in front of us.
Thomas Frank’s Indictment Of Conservatism
Hang around with grassroots conservative voters in Kansas, and in the main you will find them to be honest, hardworking people.
But put conservatism in charge of the state, and it behaves very differently. Now the “values” that rightist politicians eulogize [...]

Chronicles Of Depression 2.0: #185

Meredith Whitney: House Prices To Fall 40%, Bank of America (BAC), et al, Screwed
Meredith Whitney was on CNBC again this morning, predicting more doom for the housing market and the battered banks that are depending on its recovery. Whitney is now calling for a 40% peak-to-trough decline in house prices[.]
Emphasis added by me.
If [...]

Bank Collapse Watch: More FAIL Contestants

FDIC warns four US banks over liquidity
The Federal Deposit Insurance Corporation revealed on Friday that it had issued warnings to four small US banks that lacked sufficient reserves to cover potential loan losses.
The cease-and-desist orders issued in June said the four banks needed to raise more capital, expand their loss allowances and better oversee and [...]

Chronicles Of Depression 2.0: #172

Bennigan’s Restaurants Shut Down Nationwide
CHICAGO (CBS) ― Customers showing up for lunch at Bennigan’s restaurants in Chicago and across the country found quite a surprise Tuesday morning, when all the corporate-owned locations had signs on display reading “closed for business.”
As CBS 2’s Joanie Lum reports, Bennigan’s Grill and Tavern closed all of its corporate-owned [...]

Roissy Is Today’s Must-Read

Decivilizing: Human Nature Unleashed
No, not even a brief quote. It’s long. It’s mind-opening. Go read. Now!

Chronicles Of Depression 2.0: #168

An ad I saw moments ago at my Yahoo homepage:

And now this:
Wachovia has $8.9B loss, cuts 6,350 jobs, dividend
CHARLOTTE, N.C. (AP) — Wachovia Corp. lost $8.86 billion in the second quarter, and said Tuesday it was slashing its dividend and cutting 6,350 jobs after losses tied to mortgages soared.
Even excluding one-time items, the results substantially [...]

Bank Collapse Watch: Contestant List #3

The list is too damned long to put in here.
And there are actually two lists.
Plus, both are also filled with figures that you Numbers Suits can go chew on.
Here is the intro.
Here is List #1.
Here is List #2.
Previously here:
Chronicles Of Depression 2.0: #160
Bank Collapse Watch: Contestant List #2
Bank Collapse Watch
Ominous Rumors
Chronicles Of Depression 2.0: #155
Chronicles [...]