These FDIC-Insured Banks Have Lost 69 to 40 Percent of their Market Value Year-to-Date

By Pam Martens and Russ Martens: August 13, 2024 ~ Here’s a look at three FDIC-insured banks that have lost 69 percent, 57 percent and 40 percent, respectively, of their share price year-to-date. The decline represents the change from their share price at the close on the last trading day of 2023 (Friday, December 29) and their close yesterday, (Monday, August 12, 2024). New York Community Bancorp (Ticker NYCB): YTD Stock Performance, Down 69.33 Percent New York Community Bancorp, Inc. is the parent company of Flagstar Bank, N.A., headquartered in Hicksville, Long Island, New York with 420 branch offices in 12 states. As of March 31, 2024, Flagstar had $112.8 billion of assets, ranking it the 28th largest bank in the United States according to a listing compiled by the Federal Reserve. For more on what’s going on at NYCB, see our report: Steve Mnuchin, Trump’s Treasury Secretary/Foreclosure Kingpin, Joins with … Continue reading →

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Producer prices remain tame  – by New Deal democrat Producer prices for final demand (blue) rose 0.1% in July, while upstream raw commodity prices (red) rose 0.7%, close to their highest monthly increases in the past two years: In the larger pre-pandemic scheme of things, the one month rise in commodity prices is not a […]

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I have been picking up more healthcare commentary which depicts the difficulty in providing healthcare at a sustainable cost. This brief commentary depicts one of the problematic issues for people. I believe this sentence makes the issue very clear. Copay accumulators are programs health plans use to prevent copay assistance from counting toward patients’ deductibles […]

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I am a recipient of the SwissInfo (SWI) news and have been for a long time. Out of southern Germany I would duck down to Switzerland to tour when I was not working. A different economic outlook in Switzerland as compared to the US. Maybe someone can add to the story of the European economy? […]

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by Sheela Ranganathan, Maanasa Kona Health Affairs There is a growing interest among policymakers to protect patients from medical debt and its negative downstream effects, in April 2023. Three of the three credit reporting agencies (CRAs)—Equifax, Experian, and TransUnion voluntarily agreed to stop reporting any medical debt under $500. In April of this year the Consumer […]

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Exposure at Hedge Funds Has Skyrocketed to Over $28 Trillion; Goldman Sachs, Morgan Stanley and JPMorgan Are at Risk

By Pam Martens and Russ Martens: August 12, 2024 ~ According to a report at the U.S. Treasury’s Office of Financial Research (OFR), the Gross Notional Exposure at hedge funds has skyrocketed by 24.5 percent in the span of one year: from $22.946 trillion on March 31, 2023 to $28.579 trillion on March 31, 2024. (Run your cursor along the top green line at this link to observe the stunning growth in hedge fund exposures despite the banking crisis in the spring of 2023 when the second, third and fourth largest banks blew up.) Gross Notional Exposure (GNE) is defined by OFR as “the sum of the absolute value of long and short exposures, including those on and off the balance sheet.” The OFR was created under the Dodd-Frank financial reform legislation of 2010 to keep bank and market regulators informed of growing risks, in the hope of preventing another financial … Continue reading →

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 If you have been keeping up with New Deal democrat’s reports on the economy. He is not yet quite sold on the US slipping into recession. The Establishment Survey numbers are still positive. Numbers He believes and the numbers support his beliefs we are in a slight expansion mode. NDd also believe it is time […]

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What if you had an accident and the closest Emergency Room was over 30 minutes away or what if you were sick and there were no physicians or hospital beds in your community? Millions of Americans are facing this situation because rural hospitals are being forced to close. Why More Than 30% of Rural Hospitals […]

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by Joyce Vance Civil Discourse Today, these crimes occur with frightening regularity. In 1986, it was still shocking. This shooting and several others around the time led to the use of the phrase “going postal.” After last term at the Supreme Court, we have to worry about whether the next Patrick Sherrill will have a […]

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It is a common trope that university faculty don’t understand or live in “the real world.” This always tickled me. The unemployment rate for college grads has always been lower than for those without a degree, I guess university faculty do know a thing or two about the real world, since they can train students […]

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Mesa’s Mayor John Giles splashed onto the national political scene this week after he crossed party lines and urged Arizona Republicans to vote against former President Donald Trump and support Democratic presidential nominee Kamala Harris. His pitch started with a guest column in The Arizona Republic and a follow-up interview the same day. Giles didn’t stop there, and […]

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Weekly Indicators for August 5 – 9 at Seeking Alpha  – by New Deal democrat My “Weekly Indicators” post is up, a day later than usual, at Seeking Alpha. While there was some excitement at the racetrack Monday as stocks just missed making a new 3 month low by a hair, the more exciting news by […]

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Digsby led me to this article (below) in her recent piece, “More Corruption” Digby’s Hullabaloo. Trump is blatantly tampering with witnesses. Nobody cares. Until now, no presidential candidate could get away with this. But, as we know, Trump is special. He does what he wants. “Trump Witnesses Have Received Financial Benefits From Trump Businesses, Campaign.” […]

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In my lifetime, I’ve seen plenty of changes. The business model for recorded music (LPs, 8-tracks, cassettes, CDs, streaming), the business model for movies (theaters, Blockbuster, online), the business model for cameras (film SLRs, digital SLRs, mirrorless), the model for lecture presentations (live with chalkboard, live with overhead projector, live with Powerpoint, online recorded) all […]

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Excellent commentary by Johann Harnoss of the Boston Consulting Group. In immigrating to the United States, he is one of many arriving. Obviously, Johann has an excellent background for BCG to pick him up. I did some sponsoring of newly arrived employees for a couple of companies. My point to this is immigrants coming to […]

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This is the boring stuff on healthcare. How to consider the costs of a rural emergency department care in a small rural hospital when it is not in constant use. And what happens when the population is small and the costs equal the funds taken in by its operation. The article provides a good foundation […]

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“50 Years Ago Today“ by Digsby Digby’s Hullabaloo #OnThisDay Aug. 9, 1974 President Nixon delivers farewell address to staffers: “Always give your best. Never get discouraged. Never be petty. Always remember others may hate you but those who hate you don’t win unless you hate them. And then you destroy yourself.”  pic.twitter.com/p6pQz1AQ6w— CSPAN (@cspan) August 9, 2024 […]

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August 9, 2024 by Heather Cox Richardson AB: Is trump a liar ??? Letters from an American When President Joe Biden announced that he would not accept the Democratic nomination for president and endorsed Vice President Kamala Harris on July 21 less than three weeks ago, the horizon for the 2024 presidential election suddenly shortened […]

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I grew up in East Tennessee in the 1960s. Fish was something that came in breaded rectangles out of the freezer. Growing up Roman Catholic, it’s what was for dinner on Friday. I never cared for fish back then. We honeymooned in Charleston SC (“where the Ashley and Cooper rivers meet to form the Atlantic […]

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by The one-handed economist Humans are not doing enough mitigation to slow — let alone reverse — climate change chaos. Average global temperature is now +1.2C, far above which is on track to exceed the 2015 Paris Agreement’s target of “holding the increase in the global average temperature… increase to 1.5 °C above pre-industrial levels”  by 2034.* In this 2011 post (“We’re […]

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