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Sanderson State Bank of Sanderson, Texas fails: 25th of year SAN FRANCISCO (MarketWatch) -- The Federal Deposit Insurance Corporation said late Friday that the Sanderson State Bank of Sanderson, Texas, was closed by the Texas Department of Banking, making it the 25th U.S. bank failure of the year. The Pecos County State Bank of Fort Stockton, Texas, will assume all of Sanderson's deposits. As of Dec. 3, Sanderson had total assets of $37 million and total deposits of $27.9 million. Pecos County State Bank will assume all of the deposits for a 0.55% premium, and buy $3.8 million of assets, with the option to buy owned premises and equipment. It was the second bank failure announced by the FDIC on Friday. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news. MarketWatch.comRwandan aide `backs Congo rebels` An advisor to Rwandan President Paul Kagame plays a role in financing Tutsi rebels in eastern DR Congo, says a UN report. BBCFlaherty asks for time to consult on stimulusThe Globe and Mail Shares plunged after Senate rejection of bailout, but the downtrend was already deep It has been a rough year for Lear Corporation (LEA: sentiment, chart, options), and things just seem to be getting worse...(Read More) Schaeffersresearch.comBullish options bettors battled the bears for U.S. Bancorp (USB) yesterday In last week's edition of Trading Tools, I examined auto-parts issue Magna International Inc...(Read More) Schaeffersresearch.comState IDs `stimulus- ready` road projects PHOENIX - State transportation officials are already lining up projects they hope to get the federal government to finance through a proposed stimulus package. Arizona Daily StarAs GM bailout falters, GMAC races its own deadline (Reuters) The auto and mortgage finance company GMAC LLC raced on Friday to meet a self-imposed deadline to complete a debt swap that would qualify it for federal aid, and avoid what analysts called a potential bankruptcy. TelegraphHow to fix the real estate mess: Wharton professor`s view In the current issue of BusinessWeek, I co-authored a story featuring four experts on how to fix the housing mess. For space reasons, I couldn't include my interview with Joseph Gyourko, professor of real estate and finance at the Wharton School of the University of Pennsylvania and co-author of a new book, Rethinking Federal Housing Policy: How to Make Housing Plentiful and Affordable (AEI)Like the other experts, I asked him where the housing is headed, and whether the proposals will help stabilize the battered residential sector.THE DANGER Gyourko thinks credit subsidies-including proposals to cut interest rates to 4.5% for new home buyers-are a terrible idea: "Anything that subsidizes demand through credit is dangerous at a time like this." WASHINGTON WISH LIST The only way the housing market will stabilize is if prices continue to fall, Gyourko says. That's why he thinks it's O.K. to let troubled homeowners default. He acknowledges that this draconian approach will put eve Businessweek.comFear of a worthless car warranty General Motors has repeatedly said that 'bankruptcy is not an option,' largely because it's afraid no one will want to buy from a carmaker that might go under, leaving customers with a worthless warranty. CNN MoneyLondon finance status threatened London's status as a major global financial centre is under threat from factors including knife crime and poor public transport. BBC1 2 3 4 |
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Feedzilla is a news aggregator which categorizes news stories by topic. It is a platform where webmasters and bloggers can find an unmatched selection of easy to use, automatically updating and professional news widgets for their sites. Feedzilla supports the building of widgets in various formats, as well as allowing the addition of news widgets to different blogging platforms and social networks.
Feedzilla manually aggregates news summaries found in RSS feeds, and redistributes them in either RSS format or as a news widget. Content is collected 24 hours a day, 7 days a week from an ever-growing list of providers.
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9th of September 2009 - Interview of Feedzilla's founder at the IFA in Berlin. [More]