5 charts showing deep embedded problems in the banking and financial sector – banking data shows that recession is still going with 5.64% of all loans as non-performing. Banking charge-offs at record levels.
The new motto for banks should be “look at what I do, not as I say” because bank balance sheets are still worsening. If bad debt is any indicator of financial health or of the stability of a bank balance sheet, banks are extremely ill even after the enormous amounts of money pushed into their [...]
Student loan market created a tuition bubble rivaling the housing bubble. When banks and government subsidize markets the average American gets an education in debt serfdom. For profit schools dominate the Pell Grant market.
Recently a handful of articles have discussed the rise of subprime debt in higher education. Broadly speaking a college educated American has lower unemployment, higher earnings, and a better potential for financial success. Like the housing market, the emotional notion that everyone should own a home allowed the predatory banking industry with government support to [...]
Stock market plunge erased 9 months of a rally in a few minutes. On the same day too big to fail amendment shot down by Senate.
It is amazing what occurred yesterday. The media gave such a historical event little play. In the matter of a few minutes the Dow plunged nearly 1,000 points erasing 9 months of stock gains ($500 billion in U.S. stock market wealth). Stocks around the world also sold off on the event since many were left [...]