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Federal Reserve hopes clear exit strategy will boost market confidence
- Washington Post
- Irwin
- 02/09/2010 05:20 AM
quotable
"US bank earnings plunged nearly 25% in the third quarter, falling below $30bn for the first time since 2003 as the sagging US housing market hit profits… Net income for banks in the period fell to $28.7bn, down $9.4bn from last year driven by a steep increase in provisions for loan losses and a drop in non-interest income, according to the FDIC. Loan loss provisions rose $9.2bn, or 122%, to $16.6bn compared to the same period a year earlier… The $16.6bn in provisions is the most made since the second quarter of 1987..."
Financial Times, November 28, 2007
Commentary
Credit Bubble Bulletin
by Doug Noland | Feb 5
Generally another tough week for global risk assets.
Read moreThe Bear's Lair
by Martin Hutchinson | Feb 8
When the banking system imploded in September 2008, commentators immediately feared that the result would be a credit crunch, leading to a major downturn in GDP and rise in unemployment.
Read moreFeatured Commentary
by Satyajit Das | Jan 19
In 1971, Ralph Lapp, a nuclear physicist, used the term "China syndrome" to describe a hypothetical nuclear reactor meltdown where the molten core breaches containment barriers and melts through the crust of the Earth reaching China.
Read moreGuest Commentary
by Tom Au | Jan 25
Google – the epitome of the American Way
Writers such as Shaun Rein, managing director of China Market Research Group, may have rightly characterized Google's pullback from China as an "act of war."
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