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Daily Archives: March 8, 2009

60 Minutes Gets Insider View of FDIC Bank Takeover

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Your Bank Has Failed: What Happens Next? – “What would happen if your local bank failed? Scott Pelley and “60 Minutes” were given extraordinary access, as the Federal Deposit Insurance Corporation moves in to take over a failed bank in Chicago.”

  • “EDIE the Estimator can calculate your FDIC insurance coverage for each FDIC-insured bank where you have deposit accounts. EDIE lets you know in a printable report for each bank whether your deposits are within or exceed coverage limits.”
  • Related postings on financial system

2009 Country Commercial Guide for U.S. Companies

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Doing Business in China – 2009 Country Commercial Guide for U.S. Companies, U.S. Department of State. “…China is still a developing country, albeit one with vast potential. Spread over a population of 1.3 billion, China’s colossal economy does not represent a large amount of disposable income for each person. Annual per capita income in China… Continue Reading

NPR: Treasury Secretary Tim Geithner Talks Nationalization

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NPR: “The debate over whether the U.S. government will end up nationalizing the banks is usually presented as an either/or proposition — either the government takes over the banks to keep them from becoming insolvent or it leaves the banks in private hands…Treasury Secretary Tim Geithner, who made the government’s position plain. “It’s not the… Continue Reading

President Obama Presses the Case for Bold Action to Address the Economic Crisis

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Transcript – Obama Radio Address, Saturday, March 7, 2009: “My administration inherited a $1.3 trillion budget deficit, the largest in history. And we’ve inherited a budgeting process as irresponsible as it is unsustainable. For years, as Wall Street used accounting tricks to conceal costs and avoid responsibility, Washington did, too…For the first time in many… Continue Reading