“The unprecedented bet that many banks made on mortgages, real estate development and other real estate related lending during the middle part of this decade has produced a payoff no one imagined just a few years ago — a huge increase in loan defaults, a soaring number of foreclosures and a plunge in bank profits. And now, a new analysis of bank financial statements by the Investigative Reporting Workshop [American University School of Communication], sheds new light on just how dangerous conditions have become in many banks across the nation. We also created a search tool that permits you to check the financial health of any bank in the nation. And we have provided detailed information about the banks that have received bailout money from the federal government. This project was done in cooperation with msnbc.com. See the full story.” [thanks Peggy Garvin]
Accurate, Focused Research on Law, Technology and Knowledge Discovery Since 2002
Sorry, comments are closed for this post.