Wednesday, May 13, 2009

759%!

Seven hundred and fifty nine percent. It doesn't quite roll of the tongue but that's how much California Bank & Trust has in outstanding commercial loans relative to their net worth. Details in this LATimes report.
As commercial loans go bad, it will be particularly hard on regional banks, said Joe Morford, a San Francisco-based analyst for RBC Capital Markets, because their main customers are the small and medium-size businesses whose ranks include many developers.

"They exist for the small-business customer, the real estate developer and the entrepreneur," Morford said, a role that makes their health crucial for the greater economy. Morford has warned investors to be cautious about all three of the biggest L.A. County-based banks: East West, City National, and Cathay General Bancorp of Los Angeles.

Morford said in a report last week that commercial real estate and business lending problems are worrisome at Zions Bancorp, a Salt Lake City lender that is the parent of California Bank & Trust and operates in 10 Western states; and Umpqua Holdings Corp., an Oregon bank that operates from Napa, Calif., to Bellevue, Wash.

18 comments:

wagga said...

Better than 2,759%!
That was my first thought, anyway.

tj and the bear said...

This is SOOOO not over.

edgar said...

no problemo, obama will bail them out.

NHSteph said...

We know CA is scrooed for sure...
What other states are on the edge of the abyss? NY? MI?

Rob Dawg said...

Michigan will go first.

Jean ValJean said...

What about Minnesota?

Mr. Outspoken said...

Good to see that the young lady has found alternative gainful employment now that Craigslist is shutting down its erotic services section. I hope that in its abeyance, exurbannation will continue feeding my crippling internet addiction.

Property Flopper said...

Mr. Outspoken - Have no fear, the CL ads will still be around - they'll just crowd the other categories.

Craigslist didn't create the category thinking "Hey, let's make a forum and hope hookers show up". No, they had hookers advertising in all the other forums, making them all but useless for their real purposes. They created the "Erotic Services" section to get the ads out of the personals.

The hookers won't leave CL, they'll just be scattered all over it. It used to be easy for the cops to catch them, they were in one place.

Nice to see those states have such a low crime rate that the Attorney's General can focus their attention on such a low priority issue.

averagerainfall said...

now that Craigslist is shutting down its erotic services sectionuh-oh... where is Casey going to get his Passive Income™ from, with his primary revenue stream shut down???

Santa Flipper Clause said...

Ho Ho Ho - It's Santa Flipper Clause

@averagerainfall - yes, they are closing the "erotic services" section but they are opening an "adult section"

Kinda like moving the titty bar down the street.

Santa F. Clause

Son of Brock Landers said...

@santa flipper clause - at least BU students will still have a place to troll for victims.

Rob Dawg said...

LOL! I was just listening to Human Sexual Response, "Andy Fell" which is about a BU student.

Son of Brock Landers said...

Dawg, lightning quick response on that Krugman, post-nonpost. Maybe he got threatened with a reputation smearing like Chrysler bond holders. "Rico doesn't like it when you hold out for more money". Transparency = one more broken promise.

Rob Dawg said...

Dawg, lightning quick response on that Krugman, post-nonpost.For those who don't live on the net. I posted to Paul Krugman's blog when he was outed as having had dinner with Obama. I pointed out that his quietude was anathema to O's claims of transparency.

Lost Cause said...

Have a nice day.

averagerainfall said...

SEC readying fraud charges against the Tan Man.

edgar said...

Dawg's neighbor?

Lance Zambezi said...

How can they level insider trading charges against Mozillo? It's not like nearly everyone knew the market was a bubble . . . If plain vanilla Mozillo type shadiness is illegal, then I don't know how any kind of business will ever get done in the USA.