Business Insider Magazine - Los Angeles South Bay » bailout

Here Comes Stimulus 2.0

Editor and Publisher — Wed, 04 Nov 2009 19:26:07 +0000

(zerohedge.com) In this Bloomberg clip, commerce secretary Gary Locke says that “if there is to be another stimulus — and that’s being hotly discussed and very seriously considered within the administration as well as members of Congress – it needs to be very targeted, very specific and we need to be very mindful of the deficit as well.In other words, with unemployment not improving after the first $787 billion was spent, with GDP improvements having peaked, and since at this point nothing matters since America will never be able to realistically service its debt, with ... Continue Reading

California National Bank Seized by Regulators

Editor and Publisher — Mon, 02 Nov 2009 18:55:06 +0000

Editor’s Note: This Los Angeles-based bank has well-established branches in the South Bay region. Be aware the FDIC will do everything in it’s power to transition struggling financial institutions before taking the radical step of seizing its assets forcing a bailout. This is a grave situation indeed.

By Richard Clough

(The Los Angeles Business Journal) California National Bank, which had struggled with insufficient capital levels for more than a year, was closed late Friday by regulators, marking the fourth bank failure in Los Angeles County this year.

With assets of $7.8 billion, Cal ... Continue Reading