Implode-Explode Heavy Industries news feed http://implode-explode.com/ Tracking the many faces of the global credit implosion. en-us iehi-feed-53018 Wed, 01 Jan 2014 18:36:51 GMT New Year's Eve Gold Rush At Shanghai Shopping Mall http://implode-explode.com/viewnews/2014-01-01_NewYearsEveGoldRushAtShanghaiShoppingMall.html iehi-feed-51588 Thu, 18 Jul 2013 10:12:39 GMT Housing starts fall 9.9% in June on Multifamily http://implode-explode.com/viewnews/2013-07-18_Housingstartsfall99inJuneonMultifamily.html Overall housing starts came in at the seasonally adjusted annual rate of 836,000, down 9.9% from May but up 10.4% from June a year ago.

The numbers disappointed. Housing starts, both single-family and multifamily, dropped in the second quarter, says IHS Global Insight economist Patrick Newport. What's more, multifamily permits are slowing.

Still, builders aren't putting up homes fast enough to satisfy buyers' demand, so prices should continue to rise and that'll attract more builders, Newport says.

While multifamily construction slowed in June, starts for apartment buildings and the like are still up 35% in the first half of this year vs. the same time last year, says Jed Kolko, economist for real estate website Trulia.

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iehi-feed-50925 Sat, 25 May 2013 10:04:41 GMT Electrical Workers #527 Federal Credit Union Closes http://implode-explode.com/viewnews/2013-05-25_ElectricalWorkers527FederalCreditUnionCloses.html iehi-feed-50823 Sat, 18 May 2013 02:55:14 GMT FDIC Sues Management of Failed Florida Bank for $48M http://implode-explode.com/viewnews/2013-05-17_FDICSuesManagementofFailedFloridaBankfor48M.html ``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. http://implode-explode.com/viewnews/2013-05-07_ADisappointingDebutattheSEC.html ``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 http://implode-explode.com/viewnews/2013-04-29_FDICHitsSixBankswithEnforcementActions.html ``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 http://implode-explode.com/viewnews/2013-03-28_TheBestWaytoSaveBankingIstoKillIt.html ``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 http://implode-explode.com/viewnews/2013-03-28_CallawayCyprusomenforUSstockrally.html ``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 http://bankimplode.com/blog/2013/03/18/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 http://implode-explode.com/viewnews/2013-03-14_DebtRiddenCarSalesmanTurnedCongressmanLecturesAboutImportanceOfB.html iehi-feed-50208 Mon, 11 Mar 2013 13:02:16 GMT Gold Bears, Beware! Don't Take On Central Banks http://implode-explode.com/viewnews/2013-03-11_GoldBearsBewareDontTakeOnCentralBanks.html iehi-feed-50106 Wed, 27 Feb 2013 16:10:41 GMT New Stream Hedge Fund Executives Charged with Criminal Fraud http://implode-explode.com/viewnews/2013-02-27_NewStreamHedgeFundExecutivesChargedwithCriminalFraud.html iehi-feed-50005 Wed, 20 Feb 2013 00:34:27 GMT Imploded: Amez United Credit Union of Detroit, Michigan http://bankimplode.com/blog/2013/02/19/amez-united-credit-union-of-detroit-michigan/ here. ]]> iehi-feed-49967 Sat, 16 Feb 2013 13:45:20 GMT Imploded: Covenant Bank, Chicago, Illinois http://bankimplode.com/blog/2013/02/16/covenant-bank-chicago-illinois/ here. ]]> iehi-feed-49938 Thu, 14 Feb 2013 13:08:59 GMT Homeward Residential warns of 370 layoffs http://implode-explode.com/viewnews/2013-02-14_HomewardResidentialwarnsof370layoffs.html iehi-feed-49937 Thu, 14 Feb 2013 13:07:26 GMT Edward Jones Mortgage closing in Minn., 214 employees affected http://implode-explode.com/viewnews/2013-02-14_EdwardJonesMortgageclosinginMinn214employeesaffected.html Edward Jones Mortgage notified the Minnesota Department of Employment and Economic Development that 214 Minnesota workers could lose their jobs.

The St. Louis Park operation will close March 7, according to an employee who answered the phone Wednesday, the Minneapolis/St. Paul Business Journal reports.

Edward Jones Mortgage, which stopped offering mortgages Jan. 11, is a subsidiary of San Francisco-based Wells Fargo (NYSE: WFC), according to SEC filings, and a joint venture with St. Louis-based investment firm Edward Jones.

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iehi-feed-49895 Mon, 11 Feb 2013 21:12:41 GMT Imploded: NCP Community Development Federal Credit Union http://bankimplode.com/blog/2013/02/11/community-development-federal-credit-union/ here. ]]> iehi-feed-49843 Fri, 08 Feb 2013 13:26:33 GMT The relentless punishment of the American saver. Fed policy has encouraged spendthrift attitude and yield seeking behavior from Americans. http://implode-explode.com/viewnews/2013-02-08_TherelentlesspunishmentoftheAmericansaverFedpolicyhasencourageds.html How bad have things gotten? High yield bonds (i.e., junk bonds) were yielding something like 20+ percent in 2008. Today they are pulling in 5 percent or what a standard CD was yielding in the early 2000s. Are we really in such a stable market? We are in a period of exuberance and Greenspan can tell us how that went in the early part of the 2000s. ]]> iehi-feed-49566 Sat, 19 Jan 2013 03:29:49 GMT Imploded: First Minnesota Bank, Minnetonka, Minnesota, Assumes All of the Deposits of 1st Regents Bank, Andover, Minnesota http://bankimplode.com/blog/2013/01/18/first-minnesota-bank-minnetonka-minnesota-assumes-all-of-the-deposits-of-1st-regents-bank-andover-minnesota/ here. ]]> iehi-feed-49480 Sat, 12 Jan 2013 02:30:00 GMT Imploded: Westside Community Bank, University Place, Washington http://bankimplode.com/blog/2013/01/11/westside-community-bank-university-place-washington/ here. ]]>