Business

Published — March 17, 2009 Updated — May 19, 2014 at 12:19 pm ET

Investigative Reporting Workshop launches BankTracker

Introduction

Want to know what kind of financial shape your local bank is in? The answer may well be in BankTracker, a project that has just been launched by The Investigative Reporting Workshop at American University’s School of Communication.

The project analyzes “just how dangerous conditions have become in many banks across the nation,” based on an examination of the financial statements of some 8,000 banks. You can look up your own bank from their exhaustive data base.

Some key findings:

• The amount of nonperforming loans and foreclosed properties on bank books more than doubled last year, from $123 billion at the end of 2007 to more than $261 billion on Dec. 31, 2008.

• Bank profits fell dramatically in 2008. The nation’s banks made nearly $100 billion in 2007. That total declined to $16 billion last year, and the FDIC reported that banks, as a group, lost money in the fourth quarter of 2008, the first time that had happened since 1990.

• As a result, 163 banks had more troubled assets (nonperforming loans and foreclosed property) on their books at the end of 2008 than they had capital and loan loss reserves, meaning that potentially the bank could not cover the losses on loans and other assets it has been absorbing.

Perhaps the coolest part of the project is a comprehensive database of recipients of federal TARP money. Look up your state here.

The Workshop’s executive director, Charles Lewis, founded the Center for Public Integrity in 1989. In partnership with msnbc.com, this is the Workshop’s first major project. PaperTrail welcomes them to the investigative fold and looks forward to more great things from them.

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sam fetters
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sam fetters

What do AT&T, Verizon and Crown Castle International Corp have in common? The largest institutional shareholders of each includes firms like: Vanguard, BlackRock, State Street (the “Big Three”), Invesco, Fidelity (FMR), JP Morgan, Wellington Management, Geode, T Rowe Price, Bank of America, and other of the largest money-management and investment firms, whom operate collaboratively (even comprising the largest shareholders of each other), forming virtual monopolies amongst the largest “competing” corporations, in most every single industry, via large share holdings. (source = http://investors.morningstar.com/ownership/shareholders-major.html?t=CCI) These are the same firms whom also largely own the third largest telecom, T-Mobile. The own the largest… Read more »

Jello Beyonce
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Jello Beyonce

I’ve a theory that the supposed “Trade Wars” and “sanctions” and political/military strife going on between the U.S., China, Russia, etc. are merely distractions, serving to divert attention away from the growing authoritarianism and Oligarchic control spreading across the globe. “Nationalism” is being used as a propagandist covert means of continued increasing Globalism. As this article states: “A Russian woman stood up to speak at one of these public meetings, and she said that when she lived in Russia, the government slam dunked her and she had no say,” King said. “Now she lives in the United States of America,… Read more »

ET69
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ET69

Marx was right about capitalism . Capital gets more and more concentrated in fewer and fewer hands. There is no way out of this greed. We need socialism!

Linda Gordon
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Linda Gordon

5g is a kill grid. The depployment of this weapon is an act of terroism genocide and ecocide. The marketers need to be jailed as terrorists.

Bob Frankston
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The real issue with 5G is that it’s an attempt to roll back the Internet and return to the telecom of the 1970s when the phone company controlled all.