financial crisis

Since October 2008 I’ve been writing here about problems in mortgage backed securities (MBS). There is more evidence surfacing in bankruptcy courts that the paperwork for the underlying mortgages wasn’t provided correctly for the new bond holders, leading to delayed or denied foreclosure proceedings.  read more »

Looking for a safe haven for your banking investments? The Royal Bank of Canada is about three times the size of Citigroup, Royal Bank of Scotland or Deutsche Bank – and they haven’t cut their dividend in more than 70 years. Although Canadian banking profits declined double-digits last year, they actually had profits. Pretty much the rest of the world’s banks are reporting massive losses.  read more »

Banks in Connecticut, once interested in accepting funds from the Trouble Asset Relief Program, are now “questioning whether it’s worth participating in the program.”

Concerns over the undefined terms and changing conditions imposed on those accessing TARP money has made the banks uneasy about such long-term commitments.  read more »

So far the Treasury Department has spread out $241 billion to AIG and 124 banks in mostly coastal states and Ohio and Indiana. Check out ProPublica's frequently updated map of financial bailout recipients. ProPublica is monitoring the bailout and offers an RSS feed and a bailout widget to keep tabs on where the money is going.

Here's some other financial crisis visuals:  read more »