Articles

Five days ago I reported that Bank of America's dividend was at 11% and that the stock might present a good buy. Did I listen to my own advice? No. Today, BofA was up more than 20%.

It appears that consumers who held their money in trusts are facing some confusion at Indymac. This includes missing balances as well as non-paid interest. It serves as a reminder to make sure your trust accounts are in order and that you have the proper documentation.

If you've been renting, waiting for the housing market to collapse, the last week is good news for you. Houses are about to get a whole lot more affordable.

The fall of the dollar below $1.60 is highly disturbing, but can be tied to the BBC's airing of depositors fighting on lines outside of Indymac branches.

Fed Chief Ben Bernanke gave his semi-annual report to Congress today and it was short on good news. The headline - inflation concerns as well as economic weakness. Nothing new for people who follow this site.

I just spoke to a woman from the FDIC regarding Indymac CDs and she told me that holders have several options. They can...

If the market is open, the financials are down 10%. This will continue until we have another Bear Stearns-like failure. Bernanke has told us as much. Don't try to bottom-fish. These are failed business models.

The banking sector isn't the only industry that is getting clobbered. American car manufacturers are getting hammered because of high oil prices, a consumer shift out of SUVs, and a general sales slowdown. So what is there to do? Cut.

The economy is collapsing. The banking disease has now extended to the US's "real economy". Tax stimulus and the consumer economy have failed and we seem to be headed to a real depression very quickly. The IPhone is the only thing that can save us here.

In the current dreadful economic environment, online savings accounts may provide security of your principal (as long as you stay within FDIC limits), but the rates can fall out from under you in a second.

Markets were gearing up for some type of interest rate hike later in the year in response to inflation pressure. The latest financial sector problems may have put those hikes on hold.

We've now had five bank failures in 2008 and I wanted to see how we are doing compared to the real estate downturn in the 1980s and savings and loan crisis it precipitated. The results are interesting.

According to the FDIC website, Indymac will continue to pay interest at the contract rate. I assume this means that everyone who opened a high yield CD will continue to receive their interest payments.