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Archive for the ‘War Economy’ Category

'Rank Hypocrisy': WTO Deal Bows to Wealth, Squashes the PoorWTO fails the poorest – again
By Ruth Bergan, 2011

World Trade Organisation fails in the Doha trade talks to deliver even a minimal package to benefit the least developed countries

Trade ministers have long insisted that the World Trade Organisaton (WTO) Doha negotiations are a vital part of the response to the global emergencies in the economy, food, climate and employment. Yet we learned this week that a lack of political will has rendered the WTO incapable of agreeing even a minimal package for the least developed countries.

It became clear in late April – the 10th year of negotiations – that WTO members would not manage to agree a full Doha deal. In May the director general, Pascal Lamy, announced a proposed “early harvest” package comprising four measures aimed at benefitting least developed countries. (more…)

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Iran, Oil and Strait of HormuzAttacking Iran –
By ING, 2007 [Edited]

The market impact of a surprise Israeli strike on its nuclear facilities

The financial markets are assuming that an Israeli or US attack on Iran is unlikely. However, an imminent build-up of US forces in the Gulf suggest that they could be in for a shock.

An imminent attack would seem unlikely, given the weakness of the US administrations, and hopes for regime change in Iran. However, Iran’s threats that it will acquire nuclear weapons within two years, suggest that President Bush may sanction action before he leaves office at the end of 2008. And, within a month the US will have two aircraft carrier battle groups and a new expeditionary Marine strike force in the Persian Gulf, which might provide a shield for an Israeli bombing of Iran’s facilities. (more…)

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Walgreen's - New uses for failed banks - Pictures - CBS NewsList of banks acquired or bankrupted during the Great Recession

This is a list of notable financial institutions worldwide that were severely affected by the Great Recession centered in 2007–2009. The list includes banks (including savings and loan associations, commercial banks and investment banks), building societies and insurance companies that were:

  • taken over or merged with another financial institution;
  • nationalised by a government or central bank; or
  • declared insolvent or liquidated.

(more…)

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Buying Failed BanksList of bank failures in the United States

The 2008 financial crisis led to the failure of a large number of banks in the United States. The Federal Deposit Insurance Corporation (FDIC) closed 465 failed banks from 2008 to 2012. In contrast, in the five years prior to 2008, only 10 banks failed, of which 3 in 2007.

A bank failure is the closing of a bank by a federal or state banking regulatory agency. The Federal Deposit Insurance Corporation (FDIC) is named as Receiver for a bank’s assets when its capital levels are too low, or it cannot meet obligations the next day. The FDIC insures up to $250,000 per depositor, per insured bank.

2010 (more…)

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List of bank failures in the United States

The 2008 financial crisis led to the failure of a large number of banks in the United States. The Federal Deposit Insurance Corporation (FDIC) closed 465 failed banks from 2008 to 2012. In contrast, in the five years prior to 2008, only 10 banks failed, of which 3 in 2007.

A bank failure is the closing of a bank by a federal or state banking regulatory agency. The Federal Deposit Insurance Corporation (FDIC) is named as Receiver for a bank’s assets when its capital levels are too low, or it cannot meet obligations the next day. The FDIC insures up to $250,000 per depositor, per insured bank.

2009

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Banks and the Economy: The FDIC Expects Bank Failures to Peak this YearDust Off Your Files: The FDIC Is Back in Town
By Laurence E. Platt et al., August 2008

The recent appointment of the Federal Deposit Insurance Corporation (“FDIC”) as conservator of IndyMac Bank and receiver of the First National Bank of Nevada and First Heritage Bank, N.A. (collectively, “FNBN”) has caused many lawyers to recall from storage their files on the role of the FDIC and the now defunct Resolution Trust Corporation (“RTC”) in the liquidation of thousands of failed banks and thrifts over 15 years ago.

FDIC and RTC were often a source of unmitigated pain to the failed institutions they liquidated and the counterparties to contracts that were in effect at the time [they] failed. At the same time, FDIC and RTC presented unsurpassed opportunities for those with cash to purchase loans and assets from their receiverships [reception].

Those who have servicing or other contracts with IndyMac and FNBN are experiencing (more…)

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Top 7 Biggest Bank Failures - Slideshow | InvestopediaList of bank failures in the United States

The 2008 financial crisis led to the failure of a large number of banks in the United States. The Federal Deposit Insurance Corporation (FDIC) closed 465 failed banks from 2008 to 2012. In contrast, in the five years prior to 2008, only 10 banks failed, of which 3 in 2007.

A bank failure is the closing of a bank by a federal or state banking regulatory agency. The Federal Deposit Insurance Corporation (FDIC) is named as Receiver for a bank’s assets when its capital levels are too low, or it cannot meet obligations the next day. The FDIC insures up to $250,000 per depositor, per insured bank, as a result of the Emergency Economic Stabilization Act of 2008, which raised the limit from $100,000. (more…)

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