The Radford Free Press – Page 516 – All life is problem solving.

Economics / B. of A., bailouts, Citibank, credit market, Goldman Sachs, Ireland, lending, loan losses, nationalization, taxpayers, Wells Fargo /

The Banks and the Economy … What’s New? Nothing.

April 20, 2009

The spate of recent bank earnings releases continues unabated this morning with Bank of America telling us that its first quarter net income was $4.25 billion. Along with the results last week from Wells Fargo, Goldman Sachs, and Citibank this B. of A. performance paints a picture of recovering health in banking. Not so fast. […]

Economics / bonuses, Goldman Sachs, regulation, TARP /

Goldman Sachs: A Model Citizen? Not!

April 16, 2009

I reported earlier this week about the way in which Goldman Sachs manipulated its earnings release. It magically overlooked telling us anything about what happened in last December when, whoops, it lost a ton of money. What I didn’t report is the ongoing campaign the bank is waging to establish itself as a ‘model citizen’ […]

Economics / bankruptcy, Bernanke, commercial real estate, Goldman Sachs, housing starts, inventories, JP Morgan Chase, loan losses, real estate, TARP, Wells Fargo /

Bernanke’s Green Shoots Wither

April 16, 2009

Ben Bernanke, in a fit of wild optimism, told us that he saw ‘green shoots’ of recovery springing up around the economy. Not this morning I think. If real estate is anything to go by we are still in full recessionary mode. Housing starts in March fell 10.8%, to a level that is the second […]