Sterling Savings Bank first to go?

In a little-noticed AP article in Friday’s Missoulian (10.15.09), a major controversy with one of the regional banks was brought to our attention. Sterling Savings Bank, headquartered in Spokane and the largest Washington-based bank, also has branches in Missoula, Billings, Bozeman, Hamilton, Livingston and Big Timber.
It may be the first bank [...]

Big Banks. Fail.

Starting today four on the nation’s biggest banks stopped accepting IOUs from the cash-strapped state of California.
Check the list:

Bank of America,

JPMorgan Chase & Co.,

Wells Fargo & Co., and

Union Bank of California.

Recognize some of the names? Yep, they’re many of the same ones that you and I bailed out with federal [...]

Tell us which bits you don’t like

Please, Mr. Rehberg, could you be more specific about what part of the Obama stimulus program you don’t like. Simply being critical of the federal spending, in general and on principle, isn’t good enough.
As Pogie (over at Intelligent Discontent) capably points out, Rehberg boasts all about the federal pork money he brings to [...]

Nationalize this! Part II

All around the world discussion now includes the distinct possibility of the U.S. nationalizing its top banks. Alan Greenspan no less suggests, “it may be necessary to temporarily nationalise some banks in order to facilitate a swift and orderly restructuring.” And it was probably Senate Banking Committee Chair, Christopher Dodd, who [...]

Sorting through the mess

Like most folks, I don’t completely understand the financial crisis our nation is in. But, my lack of full comprehension doesn’t make the questions less compelling. No matter what you call it – a fiscal disaster, a banking crisis, a liquidity issue, or a banking bailout, the questions remain.
These days it seems [...]

To Save or Not To Save the Auto Industry

What should we do with the auto industry? On the one hand, they employ millions of people directly and support businesses that employ millions more. Can ourcountry handle the collapse of this industry in these already disastrous economic times?
On the other hand, I can’t really deny that they cars they make aren’t as good as [...]