Calculated Risk

• Politicians Pressuring Regulators on Banks

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  Repeating the errors from the S&L crisis ...
  
  Last Friday, the Chicago Tribune reported: Regulators seize FBOP banks The Park National shutdown occurred after several Illinois congressmen, including Reps. Bobby Rush and Danny Davis and Sen. Roland Burris, called the FDIC asking it to delay closing the bank [...]
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  Posted: November 04, 2009, 10:06pm EST
  by CalculatedRisk

• FHA Delays Fiscal Report

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  From Diana Golobay at HousingWire: FHA Delays Yearly Fiscal Report over ‘Accuracy’ of Methodology A US Department of Housing and Urban Development (HUD) spokeswoman indicated hours before the scheduled release that the report would not be completed in time, and FHA commissioner David Stevens later issued a statement on [...]
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  Posted: November 04, 2009, 6:47pm EST
  by CalculatedRisk

• ISM and Employment: Manufacturing Gives, Service Takes Away

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  Earlier this week there was some discussion about the increase in the ISM Manufacturing employment index. ISM's Employment Index registered 53.1 percent in October, which is 6.9 percentage points higher than the 46.2 percent reported in September. This is the first month of growth in manufacturing employment following 14 [...]
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  Posted: November 04, 2009, 3:44pm EST
  by CalculatedRisk

• FOMC Statement: Low Rates for Extended Period

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  Some people thought that the Fed might change the "extended period" statement, or the "economic activity ... to remain weak for a time". No change to those statements. Note: I doubt the Fed will raise rates for a long time.
  
  From the Fed: Information received since the Federal [...]
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  Posted: November 04, 2009, 2:15pm EST
  by CalculatedRisk

• ABI: Personal Bankruptcy Filings Increase in October

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  From the American Bankruptcy Institute: October Consumer Bankruptcy Filings Reach New Highs, Up 28 Percent Over Last Year The 135,913 consumer bankruptcy filings in October represented a 27.9 percent increase over last October's monthly total of 106,266, according to the American Bankruptcy Institute (ABI), relying on data from the [...]
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  Posted: November 04, 2009, 11:21am EST
  by CalculatedRisk

• ISM Non-Manufacturing Shows Expansion in October

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  From the Institute for Supply Management: October 2009 Non-Manufacturing ISM Report On Business® Economic activity in the non-manufacturing sector expanded in October for the second consecutive month, say the nation's purchasing and supply executives in the latest Non-Manufacturing ISM Report On Business®.
  
  ... "The NMI (Non-Manufacturing Index) registered" [...]
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  Posted: November 04, 2009, 10:00am EST
  by CalculatedRisk

• ADP: Private Employment Decreased 203,000 in October

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  ADP reports: Nonfarm private employment decreased 203,000 from September to October 2009 on a seasonally adjusted basis, according to the ADP National Employment Report®. The estimated change of employment from August to September was revised by 27,000, from a decline of 254,000 to a decline of 227,000. Note: ADP [...]
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  Posted: November 04, 2009, 8:17am EST
  by CalculatedRisk