Saturday, July 26, 2014

Saturday roundup (07-26-14)

Argentina is now very close to default [= "just a few days" away] (CNNMoney)

Severe Storms Threaten 100 Million Americans: The next 36 hours could bring dangerous and destructive weather, including tornado threats for parts of the Midwest. (NBCNews)



The Tonight Show. Johnny Carson & Ed McMahon (June 15, 1976) [audio only; reference to tornadoes and severe hail storm] (Youtube)



'Too big to fail' equals 'too eager to borrow' (The Los Angeles Times)

Regulators take over small bank in Illinois; brings US bank failures to 14 in 2014 (The Associated Press) GreenChoice Bank, fsb of Chicago IL had a troubled assets ratio of 349.4 percent, compared with a national median at this time of 8 percent. (BankTracker) GreenChoice Bank, fsb, Chicago, IL, Closed by Regulators (Problem Bank List)

Unofficial Problem Bank list declines to 452 Institutions (Calculated Risk blog)

     The aim of this blog is to show (mostly from reports in mainstream respected news sources) that there is reason to believe that both the United States and the global economies remain fragile in the wake of the financial crisis of 2008 and that a number of threats exist today that could, if they worsened, bring about economic depression -- not just a minor depression, but a depression worse than the Great Depression. Key threats include excessive risk-taking by financial firms, unchecked by effective regulation; the continued existence of "too big to fail" institutions; and most especially, the amassing of levels of public and private debt which could become unsustainable.

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