Implode-Explode Heavy Industries news feed Tracking the many faces of the global credit implosion. en-us iehi-feed-56316 Mon, 16 Mar 2015 18:26:50 GMT The Austrian Black Swan Claims Its First Foreign Casualty: German Duesselhyp Collapses, To Be Bailed Out iehi-feed-56312 Mon, 16 Mar 2015 14:00:45 GMT Greek currency crisis calls for controlled exit iehi-feed-56198 Mon, 02 Mar 2015 14:24:53 GMT Creditors Face Losses as Austria Halts Hypo Alpe Support Hypo Alpe-Adria-Bank International AG creditors face losses after the Austrian government ruled out providing fresh capital and put the failed lender into resolution.

After 5.5 billion euros ($6.2 billion) of taxpayer money was injected into Hypo Alpe over five years, Chancellor Werner Faymann's administration decided on March 1 to stop supporting Hypo Alpe's bad bank, Heta Asset Resolution AG, when it was told Heta may need another 7.6 billion euros.

iehi-feed-56194 Sun, 01 Mar 2015 21:10:59 GMT Doral Financial in Puerto Rico Is (FINALLY) Shut Down by Regulators iehi-feed-55908 Tue, 20 Jan 2015 14:02:48 GMT Swiss Franc Wiped Out Everest's Main Fund iehi-feed-55604 Sun, 07 Dec 2014 14:20:50 GMT Ukraine's electricity crisis deepens as a plan to import South African coal collapses iehi-feed-55479 Wed, 19 Nov 2014 17:23:44 GMT U.S. housing starts fall 2.8% in October iehi-feed-55458 Tue, 18 Nov 2014 16:04:41 GMT Russia May Go For Its Own Space Station, Walk From ISS iehi-feed-55190 Fri, 10 Oct 2014 02:02:37 GMT BofA Reportedly Cutting Back 1000 Jobs in Mtg Fulfillment; Adding To Loss Mit This just in from a reader:

BOA just shut down all fulfillment jobs (over 1000) in Jacksonville FL site and announced a majority of us will be converted to loss mit. As a DE underwriter, I am patiently waiting to see if they pay my salary to be a Hamp Underwriter. This shows the economy is sucking, Hamp was ended 2 years ago, and now it is panic mode at Bank of America.

The economy is still in the toilet, you say? We are shocked... SHOCKED...

iehi-feed-55095 Sat, 27 Sep 2014 13:56:47 GMT Doug Noland: What We Know iehi-feed-54315 Wed, 09 Jul 2014 14:17:25 GMT Welcome to the Everything Boom, or Maybe the Everything Bubble Welcome to the Everything Boom -- and, quite possibly, the Everything Bubble. Around the world, nearly every asset class is expensive by historical standards. Stocks and bonds; emerging markets and advanced economies; urban office towers and Iowa farmland; you name it, and it is trading at prices that are high by historical standards relative to fundamentals. The inverse of that is relatively low returns for investors.


Prefer a more solid asset? The price of office and apartment building has risen similarly; office space in central business districts nationwide costs $300 per square foot on average, up from $147 in early 2010, according to Real Capital Analytics. In Manhattan, an investor in an office building can expect rent payments after expenses to add up to only a 4.4 percent return, known as the capitalization rate, lower than even in 2007, the top of the last boom.

iehi-feed-53018 Wed, 01 Jan 2014 18:36:51 GMT New Year's Eve Gold Rush At Shanghai Shopping Mall iehi-feed-50925 Sat, 25 May 2013 10:04:41 GMT Electrical Workers #527 Federal Credit Union Closes iehi-feed-50823 Sat, 18 May 2013 02:55:14 GMT FDIC Sues Management of Failed Florida Bank for $48M ``The defendants are nine former executives and directors of Peninsula, including its former chairman and chief executive, Simon Portnoy, and its president and executive vice president of commercial real estate lending, Richard Solano, along with the estate of a deceased former director.'' ]]> iehi-feed-50725 Tue, 07 May 2013 04:43:18 GMT A Disappointing Debut at the S.E.C. ``The S.E.C. proposal would let the foreign branches of American banks avoid rules being developed under the Dodd-Frank financial reform law and instead follow rules that prevail in the foreign countries where the deals are done. Foreign banks involved in derivative deals with American companies also could adhere to their own country's rules as long as those rules are deemed broadly comparable to Dodd-Frank rules. '' ]]> iehi-feed-50648 Mon, 29 Apr 2013 04:29:28 GMT FDIC Hits Six Banks with Enforcement Actions ``The Federal Deposit Insurance Corp. took enforcement actions against six banks last month that tied to their capital, compliance and financial condition, according to a series of orders released Friday.'' ]]> iehi-feed-50365 Thu, 28 Mar 2013 14:27:24 GMT The Best Way to Save Banking Is to Kill It ``A genuinely radical approach would be to kill banking as we know it. Rip all banks, large or small, in two -- separate deposit-taking from credit-creation. Back the deposits one-for-one with reserves at the central bank. Then fund loans not with deposits or other money-like liabilities but by tapping investors who understand they've put their savings at risk.'' ]]> iehi-feed-50364 Thu, 28 Mar 2013 14:26:36 GMT Callaway: Cyprus omen for U.S. stock rally ``While Cyprus may be puny -- even smaller than Greece -- in terms of its significance to global markets, its turmoil is symptomatic of a European financial system careening from crisis to crisis without end.'' ]]> iehi-feed-50294 Mon, 18 Mar 2013 23:44:40 GMT Imploded: I.C.E. FCU of Inglewood, Califorina here. ]]> iehi-feed-50258 Thu, 14 Mar 2013 19:16:14 GMT Debt-Ridden Car Salesman Turned Congressman Lectures About Importance Of Balanced Budget