The ongoing saga of the Georgia banking crisis continued today with indictments of seven people associated with the failed First National Bank of Savannah. From Business in Savannah’s Former Savannah bank president, six others indicted for fraud | BusinessInSavannah.com: The…
The key paragraph: “The economy is expected to continue its moderate — but still subpar — pace of growth, as consumers, businesses and governments adjust to the new normal of fiscal constraint.”
A little over 10 years ago, I was flying back from London and had a long, long conversation with the man seated next to me. I had been to London to interview actor Jonathan Rhys Meyers for a now defunct Savannah-based magazine, and my neighbor had been there to pick up a cache of rare Emerson, Lake, & Palmer albums. Some interesting conversation ensued.
Some interesting news — and grim news for states including Michigan and Georgia — from the Federal Reserve Bank of New York about the number of REO loans nationally and per state. (REO = Real Estate Owned, i.e. properties now…
Regular readers will know that since June I’ve been a regular contributor (2-3 posts per week) to Peach Pundit, the most important political blog in Georgia.
Calculated Risk has a succinct QE Timeline in this post. He also puts those dates into the following graph of the S&P 500. It speaks for itself.
The FDIC is far behind the 2011 pace of closures, which was considerably behind 2010. Georgia continues to lead the nation in bank failures since the economic crisis, but the 5 closed so far this year is far lower than the 23 Georgia banks closed in 2011.
In Chatham County (Savannah), 37% of mortgages are underwater. Most counties in metro Atlanta top 50%.
From the FDIC press release: Covenant Bank & Trust, Rock Spring, Georgia, was closed today by the Georgia Department of Banking and Finance, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. To protect the depositors, the FDIC entered…
From the FDIC: Global Commerce Bank, Doraville, Georgia, was closed today by the Georgia Department of Banking and Finance, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. To protect the depositors, the FDIC entered into a purchase and…
Central Bank of Georgia in Ellaville, Georgia was closed today. From the FDIC press release: Central Bank of Georgia, Ellaville, Georgia, was closed today by the Georgia Department of Banking and Finance, which appointed the Federal Deposit Insurance Corporation (FDIC)…
Please note that this title and post are not about municipal budgets, but about the financial security of individuals and households. From the AJC’s Georgia is dead last in financial security: The study by the Washington-based Corporation for Enterprise Development…
It looks like the U.S. economy might be in sustained jobs recovery. That recovery might even turn out to be a significant one. Just days before last Friday’s great jobs report, I posted about a whole series of economic releases…
