BB&T is now the owner of Colonial’s assets and some of its debts, but certainly not all.  BB&T is based in Winston-Salem, N.C.; Colonial was an Alabama institution.  “The agency [FDIC] approved the sale of Colonial’s $20 billion in deposits and about $22 billion of its assets to BB&T Corp., which is based in Winston-Salem, [...]

Here is a link to a very interesting chart listing all of the US bailouts and their cost in current dollars.  http://www.propublica.org/special/government-bailouts
 Michael

Bankruptcy Judges and Trustees are weighing in on mortgage companies’ and servicers’ tactics and strategies and the results are not pretty.  “This May, Judge Elizabeth Magner in Louisiana said her review of multiple cases involving Ocwen Loan Servicing had shown the servicer regularly acted in ‘bad faith.’ The judge said Ocwen had charged improper fees [...]

The most accurate financial reporting that I read comes from the folks at Elliot Wave International.  In the most current “Theorist” which comes out monthly for subscribers, they are calling for the bear market to renew – perhaps not right away, but shortly.  While acknowledging that the fast run up in the markets over the [...]

It is reported that for some banks, the windfall reaped from overdraft fees, which frequently exceed the amount being covered by the bank, are their only source of capital.  “U.S. banks will collect a record $38.5 billion in overdraft fees this year, with nearly all the revenue paid by just 10% of customers, according to [...]