Comments on: Manhattan Apartment Sales Drop Furthest in 18 Years http://www.nakedcapitalism.com/2008/04/manhattan-apartment-sales-drop-furthest.html Sun, 22 Nov 2009 07:56:24 -0500 http://wordpress.org/?v=2.8.4 hourly 1 By: S http://www.nakedcapitalism.com/2008/04/manhattan-apartment-sales-drop-furthest.html#comment-6262 S Wed, 02 Apr 2008 21:10:00 +0000 http://www.nakedcapitalism.com/2008/04/manhattan-apartment-sales-drop-furthest-in-18-years/#comment-6262 SIV Bingo: Here we go again<br/><br/>Wall Street banks looking to ring-fence troubled assets FT SIV Bingo: Here we go again

Wall Street banks looking to ring-fence troubled assets FT

]]> By: Anonymous http://www.nakedcapitalism.com/2008/04/manhattan-apartment-sales-drop-furthest.html#comment-6251 Anonymous Wed, 02 Apr 2008 17:13:00 +0000 http://www.nakedcapitalism.com/2008/04/manhattan-apartment-sales-drop-furthest-in-18-years/#comment-6251 Howdy Hi neighbors! Not too challenging to see that Bernanke is as blind as a naked mole!<br/><br/>The nation's 8,534 banks and thrifts earned a combined $105.5 billion in 2007, a drop of 27 percent, or nearly $40 billion, from 2006.<br/><br/>That ended a string of six consecutive years of record earnings for the U.S. banking industry, according to the Federal Deposit Insurance Corp.<br/><br/>Fourth-quarter earnings fell to a 16-year low of $5.8 billion.<br/><br/>"It's no surprise to anyone that the second half of 2007 was a very tough period for the banking industry," said FDIC Chairman Sheila Bair. "Fourth-quarter results were heavily influenced by a number of well-publicized write-downs by large banks."<br/><br/>That included the four largest banks doing business in Florida.<br/><br/>Fourth-quarter profits fell by 95 percent at Bank of America's, 98 percent at Wachovia, 99 percent at SunTrust and 80 percent at Regions Financial.<br/><br/>They combined for $8 billion less in profits during the final three months of the year.<br/><br/>Just over half of U.S. banks reported lower profits for the entire year.<br/><br/>Provisions for loan losses more than doubled to $68.2 million. The average return on assets, a key measure of earnings performance, fell to 0.86 percent from 1.28 percent a year earlier.<br/><br/>The FDIC had 76 banks on its "problem list" of troubled institutions, up from 50 over the year. Howdy Hi neighbors! Not too challenging to see that Bernanke is as blind as a naked mole!

The nation’s 8,534 banks and thrifts earned a combined $105.5 billion in 2007, a drop of 27 percent, or nearly $40 billion, from 2006.

That ended a string of six consecutive years of record earnings for the U.S. banking industry, according to the Federal Deposit Insurance Corp.

Fourth-quarter earnings fell to a 16-year low of $5.8 billion.

“It’s no surprise to anyone that the second half of 2007 was a very tough period for the banking industry,” said FDIC Chairman Sheila Bair. “Fourth-quarter results were heavily influenced by a number of well-publicized write-downs by large banks.”

That included the four largest banks doing business in Florida.

Fourth-quarter profits fell by 95 percent at Bank of America’s, 98 percent at Wachovia, 99 percent at SunTrust and 80 percent at Regions Financial.

They combined for $8 billion less in profits during the final three months of the year.

Just over half of U.S. banks reported lower profits for the entire year.

Provisions for loan losses more than doubled to $68.2 million. The average return on assets, a key measure of earnings performance, fell to 0.86 percent from 1.28 percent a year earlier.

The FDIC had 76 banks on its “problem list” of troubled institutions, up from 50 over the year.

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