Tuesday, February 23, 2010

New Buzz Words - Annuitization (Tin Foil Hat Series), And Bank Update

Whenever there is a new buzzword being trotted out among the financial world -- you can pretty much rest assured that it is with some new type of scam, deception, unjust transfer of wealth.

Just look for the new buzzwords, like Annuitization.


We were bringing up the idea of Government effectively seizing your 401K to "protect you from yourself" and filling them full of treasuries, since no one else would buy that debt.




Bank Update

The fourth quarter 2009 FDIC Quarterly Banking Profile (QBP) is now available online.

Commercial banks and savings institutions insured by the Federal Deposit Insurance Corporation (FDIC) reported an aggregate profit of $914 million in the fourth quarter of 2009, a $38.7 billion improvement from the $37.8 billion net loss the industry sustained in the fourth quarter of 2008, but still well below historical norms for quarterly profits. More than half of all institutions (50.3 percent) reported year-over-year improvements in their quarterly net income. Almost one-third of all institutions (32.7 percent) reported net losses for the quarter, compared to 34.6 percent a year earlier. For the full-year, banks reported net income totaling $12.5 billion—up from $4.5 billion in 2008.
The QBP provides the earliest comprehensive summary of financial results for all FDIC-insured institutions. This report card on industry status and performance includes written analyses, graphs and statistical tables. In addition to the QBP, you may be interested in these other related products that have been updated to reflect this quarter’s data:

  • Call and Thrift Financial Reports
  • Complete bank Call Reports and savings institution Thrift Financial Reports, including detailed balance sheets and income statements.
  • Institution Directory
  • Comprehensive financial and demographic data for individual FDIC-insured institutions.
  • Statistics on Depository Institutions
  • Financial analysis tool that provides custom peer group analysis and data download capability.

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Insightful and Useful Comment!