Pimco's El-Erian Calls U.S. Economy `Terrifying'
Tuesday, 22 November 2011 | 
Peter Lindmark
Mohamed El-Erian, chief executive officer and co-chief investment officer at Pacific Investment Management Co., talks about U.S. budget policy and the economy. He speaks with Betty Liu and Dominic Chu on Bloomberg Television's "In the Loop."
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Biggest credit crunch bankruptcies so far in US
Tuesday, 1 November 2011 | Finance - Banki...
Update: 1 November 2011.
Two years have passed since the first list was compiled here at Asymptotix. Now with MG Global Chapter 11 filing, we though it's time to update the list (including pre-credit crunch):
1) Lehman Brothers Holdings, September 2008: $691 billion in assets
2) Washington Mutual, September 2008: $327.9 billion
3) WorldCom, July 2002: $103.9 billion
4) General Motors, June 2009: $91 billion
5) CIT Group, November 2009: $80.4 billion
6) Enron, 2001: $65.5 billion
7) Conseco, 2002: $61.4 billion
NAR: August Existing-Home Sales Rise Despite Headwinds, Up Strongly from a Year Ago
Wednesday, 21 September 2011 | Finance - Banki...
Washington, DC, September 21, 2011
Existing-home sales increased in August, even with ongoing tight credit and appraisal problems, along with regional disruptions created by Hurricane Irene, according to the National Association of Realtors®. Monthly gains were seen in all regions.
ICMB and CEPR group of economists recommendations on USA, Europe and Japan
Monday, 19 September 2011 | Finance - Banki...
BofA to cut at least 40,000 jobs
Saturday, 10 September 2011 | Finance - Banki...
Bank of America Corp. is preparing to slash 40,000 or more jobs, a dramatic retrenchment that reflects the deepening woes of the country's largest bank and the magnitude of the U.S. economic slowdown. The layoffs will come mainly from the BofA's sprawling consumer-banking operations. The layoffs are another blow to California, with its battered economy and nearly 12% unemployment rate as Bank of America has 45,000 employees in the state, about 1 in 6 of its nearly 300,000-person.
Credit Suisse to deliver some bank data over tax row and cut staff in London (maybe more bad news to be announced)
Tuesday, 6 September 2011 | Finance - Banki...
Switzerland is set to partially meet a U.S. ultimatum and deliver an estimate of the amount of assets held by U.S. residents in secret accounts at Swiss banks, possibly up to $30 billion according to Tages Anzeiger.
FHFA Sues 17 Firms to Recover Losses to Fannie Mae and Freddie Mac
Saturday, 3 September 2011 | Finance - Banki...
Washington, DC -- The Federal Housing Finance Agency (FHFA), as conservator for Fannie Mae and Freddie Mac (the Enterprises), yesterday filed lawsuits against 17 financial institutions, certain of their officers and various unaffiliated lead underwriters. The suits allege violations of federal securities laws and common law in the sale of residential private-label mortgage-backed securities (PLS) to the Enterprises.
US nonfarm employment August 2011
Saturday, 3 September 2011 | Finance - Banki...
Nonfarm payroll employment was unchanged (0) in August, and the unemployment
rate held at 9.1 percent, the U.S. Bureau of Labor Statistics reported today.
Employment in most major industries changed little over the month. Health
care continued to add jobs, and a decline in information employment reflected
a strike. Government employment continued to trend down, despite the return
of workers from a partial government shutdown in Minnesota.
Employment, Hours, and Earnings from the Current Employment Statistics survey (National)
Philly Fed Index: Firms See Much Weaker Manufacturing Activity, -30.7 in August from +3.2 in July
Thursday, 18 August 2011 | Finance - Banki...
Regional manufacturing activity dipped significantly in August, according to the respondents to the Business Outlook Survey. The survey's indicators for activity, shipments, and new orders all declined sharply from their readings in July. The diffusion index of current activity decreased to -30.7 in August from 3.2 in July. The broadest indicator of future activity decreased to 1.4 from 23.7 in July.
Survey responses suggest a deterioration in the labor market compared with July. Indexes for prices were lower this month and show a continued trend of moderating price pressures.
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