sabato 9 maggio 2009

More news from Bankistan

Banks Won Concessions on Tests --Fed Cut Billions Off Some Initial Capital-Shortfall Estimates 09 May 2009 The Federal Reserve significantly scaled back the size of the capital hole facing some of the nation's biggest banks shortly before concluding its stress tests, following two weeks of intense bargaining. In addition, according to bank and government officials, the Fed used a different measurement of bank-capital levels than analysts and investors had been expecting, resulting in much smaller capital deficits.

U.S. regulators shut down 33rd bank in 2009 09 May 2009 Federal regulators on Friday shut down Westsound Bank of Bremerton, Wash., making it the 33rd bank to fail this year. The Federal Deposit Insurance Corp. seized the small bank and said its nine branches and nearly all of its deposits will be taken over by Kitsap Bank of Port Orchard, Wash. Westsound Bank is the second bank based in the state of Washington to collapse this year, after the Bank of Clark County in January.

U.S. threatens to rescind stimulus money over wage cuts --California officials: Failure to revoke scheduled wage cut before it takes effect July 1 could cost state $6.8 billion in stimulus money 08 May 2009 The Obama administration is threatening to rescind billions of dollars in federal stimulus money if Gov. Arnold Schwarzenegger and state lawmakers do not restore wage cuts to unionized home healthcare workers approved in February as part of the budget. Schwarzenegger's office was advised this week by federal health officials that the wage reduction violates provisions of the American Recovery and Reinvestment Act.

Obama makes push for credit card legislation 09 May 2009 Putting himself on the side of fuming consumers, President Obama is pushing Congress to send him legislation by Memorial Day that would put a tighter rein on the credit card industry. Obama has prominently lobbied for a bill calling for a credit card crackdown. [And, when the GO/corpora-terrorists pressure him, he will fold quicker than a house of cards in an F4 tornado.]

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