Day July 27, 2008

Bank failures and small businesses

A small business owner, Fran Quittel, posts in California Progress Report that she lost 50% of her amount deposited over $100,000 when IndyMac failed. Understandably, she is frantic, looking for someone to blame. She thinks the blame goes to the…

More on bank failures

The FDIC seized two more banks on Friday. Mish says If you must [have money in a bank above the FDIC limit] for some reason (corporate payroll for example), at least pick a bank the Fed and the FDIC will…

Sign of the times

At Costco today, there was a real estate table with literature staffed by a helpful agent telling you how to make money in foreclosures.