Some good news - some bad news...
Good News: The Conference Board's Leading Economic Indicators show that the recovery is in full swing, led by improvements in financial and labor market indicators. Check out the V shape:
Bad News: The FDIC moved quickly on Friday closing and then immediately selling Innovative Bank of Oakland to Center Bank of Los Angeles, and Tamalpais Bank of San Rafael to Union Bank of San Francisco. While these closures are not shocking (the media has been rumbling for sometime), they reinforce the stress that small financial institutions (and businesses) continue to endure.
Good News: The Conference Board's Leading Economic Indicators show that the recovery is in full swing, led by improvements in financial and labor market indicators. Check out the V shape:
Bad News: The FDIC moved quickly on Friday closing and then immediately selling Innovative Bank of Oakland to Center Bank of Los Angeles, and Tamalpais Bank of San Rafael to Union Bank of San Francisco. While these closures are not shocking (the media has been rumbling for sometime), they reinforce the stress that small financial institutions (and businesses) continue to endure.
