The unidentified creators of “The TRUTH Behind the Total Collapse of the U.S. Economy” think so.
We don’t think anyone can argue that the Federal Reserve helped to inflate the real estate bubble of the early 2000s because former Fed Chairman Alan Greenspan pushed interest so ridiculously low.
But was that a colossal screw up or a [...]

City National Bancshares CEO Leonard Abess Jr gives $60M of his own money to 399+ of his staff.
After selling a majority stake in Miami-based City National Bancshares last November, all he did was take $60 million of the proceeds — $60 million out of his own pocket — and hand it to his tellers, bookkeepers, [...]

I’ve been doing some digging on the Internet b/c I’ve been wondering where all this bailout money has gone. This is a little tricky because the Federal Reserve is a PRIVATE CORPORATION and therefore is NOT required by law to disclose their accounting.
Fortunately, this astute analysis by James Conrad sheds some light on what the [...]

Just kidding.
Some suspicious developments though…
Official 6 Page Long TARP Application
The ENTIRE 6 PAGE TARP APPLICATION is out. LOL, I’m stunned how short it is—I had to fill out more info just to get a loan on my car!
TARP Loophole
Out on the markets, it looks like the corporate weasels are out in full force and [...]

Conspiracy theorists are worried that the central banks of the world are trying to unite the currencies of Canada, USA, and Mexico to form the Amero.
These people propose that the secret rulers of the world (aka Illuminati), the very same families who own majority stakes of the Federal Reserve and the European Central Bank, [...]

You must have seen it in the news by now. Washington Mutual is up for grabs to the highest bidder. Who will it be? Whatever happens, I sure hope that Americans tax payers won’t be footing the bill for this sale… n

Who Will Buy WaMu?

Citigroup

JPMorgan Chase

Wells Fargo

Banco Santander

Bank of America

FDIC / US Treasury / Taxpayers

HSBC

WaMu [...]

Bankaholic reader Doug M. emailed me to tip me off on a white-hot 4.60% APY 18-month CD at Downey Savings.
After doing some research on this bank, there are some reasons that this bank may be in trouble.

Banks that offer unusually high deposit rates are desperate for cash.
Downey Financial (NYSE:DSL) stock is tanking. Smart [...]

I noticed that Emigrant Direct has quietly spun off a purely online bank by the name of DollarSavingsDirect.
Interestingly, DollarSavingsDirect is running a 3.75% APY online savings account ($1000 minimum) while Emigrant is offering 3.00% (no minimum).
Anyone have an idea on why Emigrant is doing this? Why are they offering different rates? and what’s their business [...]

These are scary times for the banking industry. A small bank in Florida by the name of First Priority Bank has been shut down by the FDIC.
First Priority Bank with six branches on Florida’s Gulf Coast was closed by state regulators, becoming the eighth US bank to collapse this year amid failed loans [...]