AltBib.Com Research-Alongs: Washington Mutual

11/27/2011

Secret Fed Loans Gave Banks $13 Billion
Banks worldwide earned an estimated $13 billion by taking advantage of below-market rates on emergency U.S. Federal Reserve loans from August 2007 through April 2010. Roll over the bars below to explore details for each. To compare results with banks' net income or losses for the same timeframes, click the corresponding button. Worldwide total is the sum for 190 firms with available data; those banks lost a combined $21.6 billion. The Federal Reserve and the big banks fought for more than two years to keep details of the largest bailout in U.S. history a secret. Now, the rest of the world can see what it was missing. The Fed didn’t tell anyone which banks were in trouble so deep they required a combined $1.2 trillion on Dec. 5, 2008, their single neediest day. Bankers didn’t mention that they took tens of billions of dollars in emergency loans at the same time they were assuring investors their firms were healthy. And no one calculated until now that banks reaped an estimated $13 billion of income by taking advantage of the Fed’s below-market rates, Bloomberg Markets magazine reports in its January issue. (Bloomberg)

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posted: 11/29/11

keywords: American Bankers Association, Ancel Martinez, Andrea Priest, Anil Kashyap, Anthony Coley, Bailouts, Bank Of America, Barack Obama, Barney Frank, Basel, Bear Stearns, Ben Bernanke, Berkeley, Bloomberg Lp, Brad Miller, Byron Dorgan, California, Center For Economic And Policy Research, Center For Responsive Politics, Charlotte, Citigroup, Clearing House Association, Countrywide Financial, Dallas, David Jones, Dean Baker, Dodd-frank Wall Street Reform Act, Dow Jones, Federal Reserve, Financial Crisis, Financial Crisis Inquiry Commission, Financial Services Forum, Financial Stability Oversight Council, Gary Stern, George Mason University, George W Bush, Gerald Hanweck, Glass-steagall Act, Goldman Sachs, Government Transparency, Graham Fisher & CO, Henry Paulson, Howard Opinsky, Jamie Dimon, Jerry Dubrowski, John Dearie, Jon Diat, Joshua Rosner, Jpmorgan Chase, Judd Gregg, Kenneth Lewis, Lehman Brothers, Mark Lake, Merrill Lynch, Minneapolis, Morgan Stanley, Neil Barofsky, New York, New York City, New York University, Nobel Prize, North Carolina, Occupy Boston, Occupy California, Occupy Oakland, Occupy Seattle, Occupy Wall Street, Oliver Williamson, Phillip Swagel, Police, Realtytrac, Richard Fisher, Richard Shelby, Scott Alvarez, Sherrill Shaffer, Sherrod Brown, Switzerland, Tea Party, Ted Kaufman, Timothy Geithner, US Bureau Of Labor Statistics, US Congress, US Department Of The Treasury, US Freedom Of Information Act, US Supreme Court, United States, University Of California, University Of Chicago, University Of Maryland, University Of Wyoming, Vikram Pandit, Viral Acharya, Wachovia, Wall Street, Washington DC, Washington Mutual, Wells Fargo, William English

6/16/2009

Federal Reserve to gain power under plan
Targets dangers to economy

The Federal Reserve, already arguably the most powerful agency in the U.S. government, will get sweeping new authority to regulate any company whose failure could endanger the U.S. economy and markets under the Obama administration's regulatory overhaul plan (Washington Times)

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posted: 6/16/09

keywords: American International Group, Barack Obama, Chris Dodd, Countrywide, Federal Deposit Insurance Corporation, Federal Reserve, Financial Crisis, Indymac, Larry Summers, Sheila Bair, AOL Time Warner, Timothy Geithner, United States, US Congress, Washington Mutual

6/15/2009

Credit Bailout: Issuers Slashing Card Balances
He proposed paying half of his $5,486 balance and calling the matter even. (New York Times)

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posted: 6/16/09

keywords: American Bankers Association, American Express, Bailouts, Bank Of America, Barack Obama, Citigroup, Federal Reserve, Financial Crisis, Hsbc, United States, US Congress, Washington Mutual

9/29/2008

U.S. stocks hammered after House rejects rescue
Dow posts biggest point loss ever, topping plunge after Sept. 11, 2001

Taking unprecedented steps, the Fed and other major central banks on Monday poured hundreds of billions of dollars of added liquidity into money markets left paralyzed by fears of further bank failures in the United States and Europe. (Wall Street Journal)

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posted: 5/18/09

keywords: 9/11, American Express, Apple, Bailouts, Bank Of America, Belgium, Bradford & Bingley, Citigroup, Cleveland, Credit Suisse, Dow Jones, European Union, Fannie Mae, Federal Deposit Insurance Corporation, Federal Reserve, Fortis, Freddie Mac, Germany, Glitnir Hf, Google, Howard Silverblatt, Hypo Real Estate, Iceland, Luxembourg, Marc Groz, Nasdaq, National City Bank, Netherlands, New York Stock Exchange, Residential Mortgage-backed Securities, Resolution Trust Corp, Standard & Poor's, Topos Llc, US Department Of Commerce, United Kingdom, United States, Wachovia, Wall Street, Washington Mutual

9/29/2008

U.S. Stocks Slide, Dow Plunges 777 Points, As Bailout Bill Fails
Dow Hit By Biggest-point Loss Ever, Topping Post 9/11 Loss

The sell off is the largest percentage drop for the S&P 500 since Oct. 26, 1987. It also translates into a $700 billion loss for the day for the S&P, according to Howard Silverblatt, senior index analyst at Standard & Poor's. (CBS, Market Watch)

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posted: 5/4/09

9/26/2008

WaMu is largest U.S. bank failure
Washington Mutual Inc was closed by the U.S. government in by far the largest failure of a U.S. bank, and its banking assets were sold to JPMorgan Chase & Co for $1.9 billion (Reuters)

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posted: 7/29/09