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The U.S. Banking Collapse

From 2003 to 2007, there were 10 bank failures in the U.S. Already in 2008, 13 banks have failed, with the lowlight being the collapse of Washington Mutual on September 25--the biggest bank failure in American history. What other banks have failed this year? View the list

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Related Tags Citigroup   Bank of America   earnings   JPMorgan Chase
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Bove says Citi fears are overblown

November 20, 2008 — 10:14pm ET | By Jim Kim
"It would take a Depression every bit as large and long as the 1930s debacle to shake this company's viability." So wrote analyst Richard Bove about Citi. He thinks the fears are overblown, even as... Read more...

Citi losing the PR war

November 19, 2008 — 6:05pm ET | By Jim Kim
The news cycle has been exceedingly tough on Citi. Portfolio's pundit offers this: "I think it's time for Pandit to offer his resignation. The task facing Citigroup now is not to build a 'global... Read more...

Level two and three assets on the rise

November 19, 2008 — 12:17pm ET | By Jim Kim
Financial Week reports that top banks are reporting a rise in level three assets. Which just might presage another round of bitter valuation haircuts. Citi, for example, has said that level three... Read more...

More banks seek TARP funds

November 16, 2008 — 9:27am ET | By Jim Kim
So far, 62 banks have been approved (some on a preliminary basis) to receive about $173 billion from the Troubled Asset Relief Program; another 48 have applied for $6.5 billion. More banks likely met... Read more...

TARP reversal hits Citigroup

November 13, 2008 — 3:15pm ET | By Jim Kim
While we have voiced support for the change in how Troubled Asset Relief Program (TARP) funds will be used, it's fair to say that the news is not good for all banks. Case in point: Citigroup. By one... Read more...

Lawmakers seek answers on TARP funds

November 13, 2008 — 3:14pm ET | By Jim Kim
Congressmen got their chance to ask banking executives what they were going to do with their loans. The answers were not surprising. execs from Goldman Sachs, JPMorgan Chase, Bank of America and... Read more...

What's up at Citigroup? Regional deals coming?

November 13, 2008 — 9:23am ET | By Jim Kim
Well, it's not quite Wachovia, now is it? For that matter, it's certainly not Goldman Sachs, with which Citigroup had a chance to merge. The news that Citigroup is negotiating to buy Chevy Chase... Read more...

Latest victim of crunch: SPACs

November 12, 2008 — 2:41pm ET | By Jim Kim
Not too long ago, people were buzzing about the new respectability of so-called special purpose acquisition companies, or SPACs. They had shed the "blank-check" persona and all of sudden constituted... Read more...

What to make of bonuses at top banks

November 11, 2008 — 10:43am ET | By Jim Kim
To pay bonuses, or not to pay bonuses? That's a huge question right now, and it has taken on cosmic political ramifications. The House, led by Rep. Henry Waxman, is outraged and demanding information... Read more...

Lots of rumors about Goldman Sachs

November 11, 2008 — 10:42am ET | By Jim Kim
Goldman Sachs' shares are at a five-year low and most people now assume that the bank will post its first quarterly loss as a public company. The talk now centers on whether a big capital raise is in... Read more...
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Press Releases

National Bank Acquires All the Deposits of Meridian Bank, Eldred, Illinois

Meridian Bank, Eldred, Illinois, was closed today by the Illinois Department of Financial Professional Regulation-Division of Banking, and the Federal Deposit Insurance Corporation (FDIC) was named Read more >>

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