Archive for the ‘Bankruptcy Statistics’ Category

Banks Getting Letters with “Powder”

October 29, 2008
Maybe if banks still looked like this, things wouldnt be so bad

Maybe if banks still looked like this, things wouldn't be so bad

Lots of anger out there:

The Federal Deposit Insurance Corp. today issued an alert to banks, credit unions and brokerages regarding threatening letters.

The alert reads:

“The FBI, the U.S. Postal Inspection Service, and state and local authorities are investigating more than 30 threatening letters that have been received by financial institutions in California, Colorado, Georgia, Illinois, New Jersey, New York, Ohio, Oklahoma, Texas, and Washington, D.C. Most of these letters contain a powder substance with a threatening communication. At this point, field and laboratory tests on the powder have been negative. Financial institutions that receive one of these letters at any location should contact their local FBI office and ask for the WMD Coordinator.”

Courtesy of Sacramento Business Journal

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Cool, Depressing Bankruptcy Graph!

October 24, 2008

I need to parse this carefully.  The data (thanks creditcards.com) being displayed is sad and appears to track closely with foreclosures.  Now that would interesting layer on top of this graph, seeing the correlation between declaring bankruptcy and foreclosures.

One of the stories that has been under reported in my view, is the foreclosure story.  I’ve heard one report that in some neighborhoods, there have been so many foreclosures that foreclosed houses are being destroyed because an empty house is more toxic to housing prices that an empty lot.  This story is at the heart of the downturn and yet mostly we see stories about bailouts and stock market declines and the like.

The “B – Word”

October 22, 2008

Business bankruptcies are up 67% in September from the previous year.  Here is the depressing link.