Fed: Home prices “drifting down in northern New Jersey”

From the Federal Reserve:

Beige Book – Second District–New York

Construction and Real Estate

Housing markets have been mixed but generally stable since the last report. Real estate contacts in both northern New Jersey and western New York State report that sales activity has remained exceptionally weak as the usual seasonal pickup in September has not occurred. The ongoing weakness was partly attributed to the expiration of the home-buyers tax credit, which is believed to have pulled sales forward from the second half of 2010. Prices are characterized as relatively stable in upstate New York and drifting down in northern New Jersey, where one industry contact notes a sizable inventory of distressed properties on the market. Manhattan’s co-op and condo market was stable in the third quarter: sales activity was steady, after accounting for a normal seasonal dip, and prices were steady to down slightly overall. Manhattan’s apartment rental market improved modestly: effective rents are estimated to be rising moderately, as landlords pull back on concessions. New leasing activity picked up noticeably in the quarter–largely attributed to renters moving in response to the end of concessions on lease renewals.

Office markets across the District softened modestly since the last report. Asking rents continued to drift down in Manhattan and northern New Jersey but were mostly steady in other parts of the region. In Manhattan, office vacancy rates retreated in August and September, after rising in July. In most of the District, though, vacancy rates have edged up since the last report.

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114 Responses to Fed: Home prices “drifting down in northern New Jersey”

  1. grim says:

    Flying back home tonight, was in TN all week. No Mexico, no tattoos. Although that sounds like a great vacation option if I can add tequila.

  2. Fast Eddie says:

    GTG,

    See me@work post #186 from last thread.

  3. Fast Eddie says:

    Prices are characterized as relatively stable in upstate New York and drifting down in northern New Jersey, where one industry contact notes a sizable inventory of distressed properties on the market.

    I’m in the mood for a pot of coffee and some serious rants today but, I must leave for work (someone’s gotta support the Oblama agenda). Like I said: find the house you like, offer 20% below asking with a 48 hour window. If they sqwauk, move on to the next one. It’s that simple.

  4. Essex says:

    2. Hope ya went here:

    http://www.gruhn.com/

  5. Mr Wantanapolous says:

    [6],

    Map courtesy of the Washington Post
    Foreclosure data from CoreLogic | Cristina Rivero and Mary Kate Cannistra/The Washington Post

    ~~~

  6. Essex says:

    “Everything That Rises Must Converge” — Flannery O’Connor

  7. Lamar says:

    BC (6)-

    A regular sea of cabbage there.

  8. Barbara says:

    6.
    What’s going on there in the middle of Oregon?

  9. Lamar says:

    Barb (10)-

    I’m guessing that’s around Bend. Giant retirement/2nd home area. I think the FKs started there fairly early on in the bust.

  10. Lamar says:

    If you Google UE stats for the Bend area, it’s running around 14%.

  11. Lamar says:

    NFLX now trading at 70 P/E. Subscriber base is padded with free giveaway subscriptions, and the streaming website has crashed.

    Yeah, this equity rally has legs.

    Do anyone other than algos and fools trade this piece of crap?

  12. Lamar says:

    Surprised nobody’s thought to turn POMOs into an ETF.

  13. dan says:

    Looks like I’m gonna be $9k permanently apart on this townhouse. Time to move on.

  14. chicagofinance says:

    Seriously….I have this Diane Turton crap…where should I send it? There are these people that pound the table for Monmouth/Ocean data….so raise your hands….Should I mail it to grim?

  15. Mike says:

    Fast Eddie No. 4 Is being squaked at the same as being cussed at?

  16. chicagofinance says:

    State of disgrace
    By LOU LUMENICK

    Last Updated: 4:59 AM, October 22, 2010

    Posted: 11:47 PM, October 21, 2010

    How pervasive is political corruption in New Jersey politics? When I was a reporter there in the late ’70s, I politely declined a couple of cash-stuffed envelopes from municipal candidates seeking better coverage in towns I covered.

    Things over there have gotten even worse, according to “The Soprano State,” an entertaining if superficial greatest-hits collection of Garden State scandals from the last decade.

    Based on a book of the same name by a couple of New Jersey political reporters, this breezy documentary is hosted by on-screen narrator Tony Darrow, who was in a batch of episodes of “The Sopranos.” Here he appears in a nightclub setting, makes off-color jokes, and even sings humorous ditties about the state, when he isn’t puffing on a big cigar.

    He traces New Jersey corruption as far back as the Revolutionary War, when the natives charged George Washington’s troops to use toll roads and the state’s signatory to the Declaration of Independence covered his bets by also signing a loyalty oath to the British monarchy.

    New Jersey is currently a state with an astounding 81 government workers per square mile, compared to an average of six for the rest of the country. Some of those workers hold multiple part-time positions that require few, if any, appearances, in order to fatten their pensions. By one estimate, everything in New Jersey costs an extra 10 percent because of payoffs to organized crime.

    In recent years, New Jersey has pulled ahead of such rivals as Louisiana, Illinois and Rhode Island as “an international laughingstock” (in the film’s words), because the state has never outlawed some particularly jaw-dropping examples of cronyism and conflicts of interest.

    The most famous case was that of former Gov. Jim McGreevey, who after 9/11 passed over former FBI director Louis Freeh as the state’s first director of homeland security. Instead he hired a young Israeli man with dubious credentials — who McGreevey, a closeted married man, later admitted was his gay lover.

    There’s also the colorful saga of longtime Newark Mayor Sharpe James, who dodged several federal investigations. He finally went to jail when he blatantly arranged for a girlfriend to cash in on a federal housing rehabilitation program. Even rabbis from the Jersey Shore were nabbed bribing municipal officials.

    The film’s murkiest section is at the end. It isn’t clear exactly who footed the bill for Xanadu, a $2 billion eyesore of an abandoned mega-mall in the Meadowlands. Or exactly what happened with an expensive abortive effort to build an upscale golfing community on a landfill there.

    “The Soprano State” is something of an infomercial for the New Jersey’s current governor, Chris Christie, a former federal prosecutor who frequently appears on-screen as a good guy. Let’s hope he doesn’t join those he put behind bars in the promised second part of this documentary.

  17. Juice Box says:

    re: #17 – JJ go schmooze up the security people and get your name on the exclusion list,
    unless Grim’s site is on the Websense filter and is being blocked?

  18. JJ says:

    What happened this is a I hated Diane Turton page on Facebook from and the nasty nasty words got blocked when I tried to launch it.

  19. Juice Box says:

    Wantan – with all of this gum flapping at the G20 about the strong dollar do you
    think “the” retracement of Gold is going to happen soon?

    http://www.bbc.co.uk/news/business-11606501

  20. This is a superb post Fed: Home prices “drifting down in northern New Jersey”.
    But I was wondering how do I suscribe to the RSS feed?

  21. NJGator says:

    Grim & Nom, you’be both got mail.

  22. JJ says:

    For cougar nights out in NJ do you guys go to Illusions in Mahwah or Portobellos in Oakland?

  23. Unexpected HEHEHE says:

    John Paulson lowers long term Bank of America View

    http://blogs.forbes.com/teribuhl/2010/10/21/john-paulson-lowers-long-term-bank-of-america-view/

    Really? You think?

  24. Mr Hyde says:

    Nom,

    You might find this interesting, MERS hits the wall again in a bankruptcy filing:

    On October 16, 2008, the subject motion for relief from stay was filed. See Doc. No. 21 (the “Motion”). It was filed by “Mortgage Electronic Registration Systems, Inc. as nominee HSBC Bank USA, National Association, as Indenture Trustee of the Fieldstone Mortgage Investment Trust Series 2006-3.” Id. at 1 (the “Movant”).6 The Movant characterized itself as a “secured creditor and Claimant.” Id. The Motion further alleges that Debtors were indebted at filing “to Movant” and that the debt arose out of a promissory note and a deed of trust dated September 20, 2006 “naming Movant as beneficiary.” Id….

    While the term “party in interest” is not defined by the Code, this Court has held that such a party must have a “pecuniary interest” in the outcome of the dispute before the Court….

    Jacobson notes that its moving party, who claimed to be a servicer for the holder of the note, “neither asserts beneficial interest in the note, nor that it could enforce the note in its own right.” 2009 WL 567188 at *4. It concluded that Fed. R. Civ. P. 17 applied, requiring the stay relief motion to be brought in the name of the real party in interest…..

    That entity is the real party in interest. It must bring the motion or, if the motion is filed by a servicer or nominee or other agent with claimed authority to bring the motion, the motion must identify and be prosecuted in the name of the real party in interest.11…..

    The Motion was filed by MERS “as nominee [for] HSBC Bank USA, National Association, as Indenture Trustee of the Fieldstone Mortgage Investment Trust Series 2006-3.” Even assuming that MERS as a “nominee” had sufficient rights and ability as an agent to advance its principal’s stay relief request, there remains an insuperable problem. The Motion provides no explanation, much less documentation or other evidence, to show that the Fieldstone Mortgage Investment Trust Series 2006-3 (as an entity) or HSBC Bank USA (as that entity’s “indenture trustee”) has any interest in the subject Note or the subject Deed of Trust.13…..

    This District’s Local Bankruptcy Rule 4001.2 requires copies of “all documents evidencing the obligation and the basis of perfection of any lien or security interest.” The sole documentation provided with the Motion here evidences the interests in the Note and Deed of Trust held by Fieldstone Mortgage Company, a Maryland corporation. This submission does not answer the key question — Who was the holder of the Note at the time of the Motion? Several movants for stay relief have argued that the holder of a note secured by a deed of trust obtains the benefit of the deed of trust even in the absence of an assignment of the deed of trust, on the theory that the security for the debt follows the debt. Under this theory, it would appear that when bankruptcy intervenes, and somewhat like a game of Musical Chairs, the then-current holder of the note is the only creditor with a pecuniary interest and standing sufficient to pursue payment and relief from stay.15

    The Motion here certainly suggests that the Fieldstone Mortgage Investment Trust Series 2006-3 (or perhaps HSBC Bank USA in its capacity as indenture trustee for that trust) was the holder of the note on the June 24, 2008, petition date. But at the time of the final § 362(e) evidentiary hearing herein, the parties discussed and Movant ultimately conceded that (I) the Note contained nothing indicating its transfer by Fieldstone Mortgage Company, (ii) the Motion was devoid of allegations regarding the details of any such transfer, and (iii) the record lacked any other documents related to the issue…..

    Subsequent to the closing of the hearing and after the Court took the dispute under advisement, Movant filed a “supplemental affidavit” of its counsel. See Doc. No. 28 (filed January 2, 2009). This affidavit alleges that Movant’s counsel obtained on such date the “original” Note and that the same contains an indorsement. Counsel states that his “affidavit is presented to supplement the record herein and for the Court’s consideration in the pending motion[.]” Id. at 2.

    The filing and consideration of this supplemental affidavit are improper for several reasons.

    First, the record was closed, and the Court did not authorize the reopening of that record, nor did it indicate any post-hearing submissions would be accepted…..

    Second, Trustee did not have the opportunity to address this “newly obtained” document at hearing, and nothing shows his consent to the post hoc supplementation of the evidentiary record.

    Third, disputed factual issues in contested matters may not be resolved through testimony in “affidavits” but rather require testimony in open court. See Fed. R. Bankr. P. 9014(d). Under the circumstances, the identity of the holder of the Note certainly appears to be a fact in dispute falling within the ambit of this rule.

    Fourth, the affidavit is insufficient to establish that counsel, as affiant, has the ability to testify regarding or lay the foundation required to admit the document. See Esposito v. Noyes (In re Lake Country Invs., LLC), 255 B.R. 588, 594-95 (Bankr. D. Idaho 2000).16 The assertion that the newly possessed note is the “original” appears to be based not on the affiant’s (counsel’s) personal knowledge but on the assertions of someone else.

    Fifth, the proffer of this “new” note as the “original” note directly contradicts Movant’s prior representations that the Note attached to the Motion was “true and correct” and the operative document in this matter. See Doc. No. 21 at 1.

    Sixth, even were it considered, the “new” Note’s asserted indorsement states: “Pay To The Order Of [blank] Without Recourse” and then purports to be signed by Fieldstone Mortgage Company through a named assistant vice president. There is no date nor indication of who was or is the transferee. Fieldstone Mortgage Company may have indorsed the Note in blank, but this document does not alone establish that either HSBC Bank USA or Fieldstone Mortgage Investment Trust is the Note’s holder.17

    http://www.scribd.com/doc/39890166/Sheridan-Decision-Idaho-Bkr-j-Myers

  25. Mr Hyde says:

    Nom,

    I saw commentary on this suggesting that this is a foot hold for people to argue that the BS MERS paper work is insufficient to show evidence that any money is owed by anybody, That the trust would have to show the proper chain of documentation which is difficult or impossible in some cases.

  26. relo says:

    27: There used to be a place at the top of a hotel in Saddle Brook back in the day, right off the Parkway. Ah, to be young again.

  27. Comrade Nom Deplume says:

    Clotesque thought of the day:

    “The average man does not want to be free. He simply wants to be safe.” — Mencken

  28. Comrade Nom Deplume says:

    Hyde,

    I must confess to being largely ignorant about MERS and securitization trusts. I am brushing up on them in what little spare time I have.

    That said, I do agree with the camp that suggests the issue is overblown, and that the banks may be able to salvage their security interests, which is really the only thing at risk. The idea that judges will be handing out free houses is quite far-fetched, notwithstanding the NY judge that did just that and will likely be overruled. There are other legal bases for enforcing the loans.

    Also, there is a political and econ policy component that cannot be overlooked, and that is why many think the feds will paper this over post facto.

    I’ll comment more when I actually have something intelligent to say on the subject.

  29. Mr Hyde says:

    clot 33

    That safety is an illusion.

  30. Mr Hyde says:

    I meant Nom @ 33

  31. Anon E. Moose says:

    Hyde [29];

    I read the order, started thinking about the implications (does this sound like the bank will get a cramdown? Wait, weren’t cramdowns net good for the bank because they could recover more than just the house?) and just ended up with agita. Back to work, its less stressful (and that’s not saying much).

  32. ricky_nu says:

    JJ – aren’t you married with kids?

  33. Comrade Nom Deplume says:

    [31] relo

    Donovan and the Obamunists understand that they are treading next to a very steep cliff here. Remember the flap when Obama said the Cambridge police “acted stupidly”? That will be infinitesmal compared to the reaction from the markets and media from just one small miscomment from anyone in the administration.

    This issue has the ability to throw us into a big D depression that will rival the 30’s if the markets even perceive that it is being mishandled, and so quickly that no one will be able to react quickly enough (and the ensuing panic and bank run will just exacerbate the death drop). I can guarantee you that if that happens, there will be politicians swinging from lightpoles in a few places.

  34. Comrade Nom Deplume says:

    [35] hyde

    Isn’t that the idea?

  35. Comrade Nom Deplume says:

    [38] ricky

    JJ is a playa. Why should that little factoid slow him down?

  36. Mike says:

    Relo No. 32 Use to hang at that place, cops would always hang out at the end of the night looking for DWI’s . Let’s not forget the Somerset Hilton, Woodbridge Hilton and the Pines Manor in Edison. I think the toupee Hilton still rocks on Wednesday nights.

  37. Mike says:

    toupee (Woodbridge)

  38. Lamar says:

    Smoke ’em if you got ’em. Next stop, the end of days.

  39. Lamar says:

    I hope somebody at the G-20 tosses a drink in Eraserhead’s face.

  40. Lamar says:

    Small repayment for teaching the world how to fail.

  41. prtraders2000 says:

    Anyone have any insight into buying tax certificates in NJ? If you purchase a certificate on a piece of property are you basically locked into to purchasing the next certificate if it comes up before you can begin foreclosing?

  42. Lamar says:

    More POMO free money today. Time to ramp a bunch of shit equities yet again.

    “POMO is over, and with great regret we inform readers that the Fed now has zero credibility as the trades we expected to be precisely those most frontrun by the market are exactly as predicted. In other words: the CUSIPs anticipated to be monetized, and which we advised readers to lever up, buy, and flip them back to the Fed within a day, were precisely the ones that were put back. Fundamental analysis – you are fired. Enter – 100% Fed Frontrunning success rate.”

    http://www.zerohedge.com/article/fed-frontrunning-success-rate-100

  43. JJ says:

    I have a New York State Marriage License. Not a New Jersey Marriage License.

    ricky_nu says:
    October 22, 2010 at 11:07 am

    JJ – aren’t you married with kids?

  44. ricky_nu says:

    haha – that sounds a little like the old 100 mile radius girlfriend rule back in college……

  45. Lamar says:

    Care to respond to Mr. Middleton, JJ?

    “…accountants have not been – and currently are not, trained in the economic realities of corporate valuation. They are trained to tabulate business operations data. There is a marked and distinct difference. That difference is as stark as night and day for investors, yet despite this stark difference, Wall Street still reports corporate performance metrics strictly in accounting terms, and the media (both mainstream and the more specialized financial media) simply follow suit. Hence we hear much about easily manipulable and manageable accounting earnings, revenues, operating margins, earnings per share, etc. These measures are highly flawed in a variety of ways, with the primary flaw being that they do not account for the efforts both required and undertaken to achieve them. Basically, they measure JUST HALF (and coincidentally, the positive half may I add) of the risk/reward equation that should be at the root of every investor’s move. Long story short, they do not account for, nor do they EVEN RESPECT, the cost of capital. This concept ties in closely with Chairman Bernanke’s current course of action as well as the ZIRP discussion later on this missive demonstrates (capital offered at zero cost causes reckless abandonment of risk management principles which eventually causes crashes – yes, more crashes). Acknowledgment of the cost of capital enforces a certain discipline on both corporate management and investors/traders. Without respect for such, it is much too easy to create and portray a scenario that is all too rosy, since we are only looking at rewards but never bother to glance at the risks taken to achieve said rewards.”

    http://www.zerohedge.com/article/four-facts-bang-jp-morgan-you-just-won%E2%80%99t-hear-sell-side

  46. Lamar says:

    #50-

    License to Ill.

  47. dan says:

    I thought the Piano Bar in Morristown was Cougartown.

  48. sas says:

    BFF friday

    SAS

  49. JJ says:

    My friend got married in Rhode Island as it it smallest state. Love Honor and Obey in the state of Rhode Island is an easy vow to keep. I originally wanted to get married in Guam for this reason.

    ricky_nu says:
    October 22, 2010 at 11:46 am

    haha – that sounds a little like the old 100 mile radius girlfriend rule back in college…

  50. JJ says:

    Like the ‘island rule” on vacation with girl friends girls go wild as the rules don’t apply. Other crazy rule is Greek Orhodox rule, those girls do everybody except Greek man as they all talk. Then they get married all in white, knew a girl who did like 200 catholic and jewish guys and married as a virgin in the greek church. I think guy found a few class rings or something in that box on his honey moon, kinda like cracker jacks.

    ricky_nu says:
    October 22, 2010 at 11:46 am

    haha – that sounds a little like the old 100 mile radius girlfriend rule back in college……

  51. sas says:

    I’ve been MIA for awhile.

    was out in Vladivostok working some of the ports, out on the Zolotoy Rog.

    had a nice little run in with the Chechens.
    always something…

    SAS

  52. Al Gore says:

    “I hope somebody at the G-20 tosses a drink in Eraserhead’s face.”

    Maybe the Brazil delegation will hit him over the head with a rubber tree branch. That G-20 is going to fail. Here’s my thoughts.

    China and Russia are snuggling up and have a plan to trade Russian oil for Chinese Remimbi/gold. Middle East moving to a gold standard. It wont be long before the Federal Reserve Note isnt necessary to trade for oil. We all know where that ends.

    I see no way out. Way too late for a political solution. Its going to collapse. Thank God for that.

  53. sas says:

    “I see no way out. Way too late for a political solution. Its going to collapse.”

    perhaps not collapse, but reorganized.

    SAS

  54. Lamar says:

    al (61)-

    It’s all turning to shit, and yet they keep selling us shit sandwiches.

  55. Lamar says:

    sas (60)-

    I heard the Chechens cheat at cards.

  56. Al Gore says:

    62.

    “perhaps not collapse, but reorganized.”

    Yeah, reorganize the US into a 3rd world jerkwater.

  57. sas says:

    “Yeah, reorganize the US into a 3rd world jerkwater”

    too negative. I remember in early 80s, the Russians were suppose to take over.
    They were nothing but paper tigers.

    we still have strong military, goes along way.
    but, political pull & influence is diminishing, no doubt.
    and middle classs is disapperaing too….so there is your third world.

    better invest in lice repellent.
    SAS

  58. Shore Guy says:

    Bend, OR is now Bend over?

  59. Al Gore says:

    Re: G20.

    The only way a reorganization could happen is if we see a Plaza Accord type event where the nations get together and revalue and devalue currencies against eachother along with at least a 2/3 debt repudiation. Either way the US must lose a minimun of 40-50% of its purchasing power. This also must be accompanied by tariffs, and austerity.

    I see no evidence that the Chinese or Russians want to play ball with the US. Its in their interest to shove it up our _ss. Thats exactly what they’ll do thanks to the foreign national sitting in the executive branch and all his banker puppet masters. And yes, every other piece of garbage thats been in DC for the last 40 years is included. JFK was the last real president we had.

  60. Shore Guy says:

    In the final analysis, no military can be strong over the long term without a strong non-military-industrial economy behind it.

  61. Mikeinwaiting says:

    Relo 32 “There used to be a place at the top of a hotel in Saddle Brook back in the day, right off the Parkway. Ah, to be young again.”
    Ah yes I remember it well. Not the name just the place!

  62. JJ says:

    Going down to florida next few days for a conference. Will report back on the recession. Going to watch cowboy/giants game at a steak house over drinks and dinner, lets see how bad things really are

  63. Mikeinwaiting says:

    Shore 69 fact, my fear exactly.

  64. Al Gore says:

    69.

    Indeed. Even if you look at it from the best case scenario via an imperialist viewpoint it doesnt look good. Lets say Iraq and Afghanistan are made docile to our strategic interests there. And no this isnt about terrorism. The Chinese are already getting gas from the Caspian sea/ Turkmenistan via the pipeline. So the Afghan campaign has been an utter failure minus the opium trade. The Chinese have also just about cornered the rare earth metals minus whats available in Afghanistan.

    That being said, if I was China I wouldn’t tickle a tigers _ss inside a phone booth. The Chinese could be dealt serious blows without conventional arms.

  65. Mr Hyde says:

    Al,

    where does all of that fit in with operation blue beam and the US deep space armada?

  66. Confused In NJ says:

    G20 to Tim Geithner: ‘You’re Joking … Right?’

    The stock market was relatively calm Friday morning but market players are on edge ahead of this weekend’s G20 summit in Seoul.
    With the world’s economic powers seemingly in a race to have a weaker currency than their trading partners, the threat of a currency war hangs over the conference.

    Ahead of the confab, Treasury Secretary Tim Geithner sent a letter requesting the G20 “commit refrain from exchange rate policies designed to achieve competitive advantage by either weakening their currency or preventing appreciation of undervalued currency.”

    China’s currency manipulation was the primary target of Geithner’s request, as was his proposal that G20 nations adopt specific targets to reduce trade gaps between specific countries.

    The problem is U.S. policy appears designed to weaken the dollar without regard for our trade deficit, so Geithner seems, at best, disingenuous and, at worst, hypocritical.

    Furthermore, S&P 500 companies are benefiting from a weak dollar, as Henry and I discuss in the accompanying clip. The dollar’s weakness makes it easier for U.S. multinationals to sell their goods abroad, a primary reason the stock market is hovering near its highest levels since Lehman Brother’s bankruptcy in September 2008.

    For better or worse, the big threat to the bulls today is the communiqué coming out of the G20 meeting might help shore up the dollar, a big reason gold has fallen from its recent peak this week

    DDE was the last real president we had!

  67. JJ says:

    Markets is going up as stocks look cheap next to bonds and companies are having decent earnings. Plus vol is up last few weeks as retail investors are finally investing.

  68. Confused In NJ says:

    ATLANTA – As many as 1 in 3 U.S. adults could have diabetes by the year 2050, federal officials announced Friday, in a dramatic revision of earlier projections.

    The Centers for Disease Control and Prevention estimate that 1 in 10 have diabetes now, but the number could grow to 1 in 5 or even 1 in 3 by mid-century if current trends continue

  69. JJ says:

    Fitch may downgrade Bank of America ratings
    BY MarketWatch
    — 1:53 PM ET 10/22/2010

    SAN FRANCISCO (MarketWatch) — Fitch Ratings said Friday it may downgrade the long-term and short-term issuer default ratings on Bank of America Corp. on an initial interpretation of bank reform legislation passed earlier this year. Fitch has an A+ long-term IDR and an F1+ short-term IDR on Bank of America (BAC

  70. Libtard says:

    JJ: (76):

    “Plus vol is up last few weeks as retail investors are finally investing.”

    As usual, so far behind the curve that they can’t even see the front of the train.

    How ’bout my Chipotle?

  71. Al Gore says:

    75.

    Hyde,

    Not sure about blue beam. Why dont you ask Bin Laden. What a scary cartoon character he is.

  72. JJ says:

    Ahead of curve, I care only about last few days volume rising and % that is retail. Your historical mutual fund stuff is historical.

    Chipolite is up 15% today, that is like 15 years of interest in the bank in one day.
    206.17 +26.92‎ (15.02%‎)
    Libtard says:
    October 22, 2010 at 2:11 pm

    JJ: (76):

    “Plus vol is up last few weeks as retail investors are finally investing.”

    As usual, so far behind the curve that they can’t even see the front of the train.

    How ’bout my Chipotle?

  73. JJ says:

    Bull Market, not a stock market but a market of stocks, 163 winners year to date.

    The following 163 U.S. stocks have doubled in price year-to-date.
    Ranking | Company (Ticker) | Year-to-Date Performance
    1 The LGL Group, Inc. (AMEX:LGL) 862.6%
    2 Kingold Jewelry Inc., (NASDAQ:KGJI) 638.1%
    3 RADCOM Ltd. (NASDAQ:RDCM) 542.0%
    4 China Shen Zhou Mining & Resources Inc. (AMEX:SHZ) 466.2%
    5 VirnetX Holding Corporation (AMEX:VHC) 451.0%
    6 Samson Oil & Gas Limited (ADR) (AMEX:SSN) 408.3%
    7 Cost Plus, Inc. (NASDAQ:CPWM) 403.9%
    8 Keithley Instruments, Inc. (NYSE:KEI) 364.7%
    9 WHX Corporation (NASDAQ:WXCO) 326.3%
    10 Wabash National Corporation (NYSE:WNC) 322.2%
    11 Isilon Systems, Inc. (NASDAQ:ISLN) 316.8%
    12 Dearborn Bancorp, Inc. (NASDAQ:DEAR) 308.6%
    13 SMTC Corporation (USA) (NASDAQ:SMTX) 283.0%
    14 Zanett, Inc. (NASDAQ:ZANE) 276.9%
    15 VocalTec Communications Ltd. (NASDAQ:CALL) 268.7%
    16 TPC Group, Inc. (NASDAQ:TPCG) 263.4%
    17 Semitool, Inc. (NASDAQ:SMTL) 260.3%
    18 Aspect Medical Systems, Inc. (NASDAQ:ASPM) 259.8%
    19 CTI Industries Corp. (NASDAQ:CTIB) 259.7%
    20 Hyperdynamics Corporation (AMEX:HDY) 237.9%
    21 Acme Packet, Inc. (NASDAQ:APKT) 234.9%
    22 Applied Energetics, Inc. (NASDAQ:AERG) 228.6%
    23 WSI Industries, Inc. (NASDAQ:WSCI) 225.7%
    24 Mesabi Trust (NYSE:MSB) 225.6%
    25 Lucas Energy, Inc. (AMEX:LEI) 220.4%
    26 Callon Petroleum Company (NYSE:CPE) 218.0%
    27 TransGlobe Energy Corporation (USA) (NASDAQ:TGA) 216.2%
    28 MBIA Inc. (NYSE:MBI) 215.3%
    29 Netflix, Inc. (NASDAQ:NFLX) 213.5%
    30 Neurocrine Biosciences, Inc. (NASDAQ:NBIX) 206.6%
    31 Uroplasty, Inc. (NASDAQ:UPI) 205.3%
    32 Somaxon Pharmaceuticals, Inc. (NASDAQ:SOMX) 204.6%
    33 Voyager Oil & Gas, Inc. (NASDAQ:VYOG) 202.9%
    34 Presidential Realty Corporation (AMEX:PDL.B) 200.0%
    35 Sonic Foundry, Inc. (NASDAQ:SOFO) 198.4%
    36 Gentium S.p.A. (ADR) (NASDAQ:GENT) 198.2%
    37 IDT Corporation (NYSE:IDT) 197.5%
    38 Magnum Hunter Resources Corporation (AMEX:MHR) 197.4%
    39 Material Sciences Corporation (NASDAQ:MASC) 193.2%
    40 Polypore International, Inc. (NYSE:PPO) 190.2%
    41 Star Scientific, Inc. (NASDAQ:CIGX) 190.0%
    42 Craft Brewers Alliance, Inc. (NASDAQ:HOOK) 187.5%
    43 Hauppauge Digital, Inc. (NASDAQ:HAUP) 187.2%
    44 Hawk Corporation (AMEX:HWK) 183.3%
    45 Pinnacle Data Systems, Inc. (AMEX:PNS) 183.0%
    46 Investors Capital Holdings Ltd (AMEX:ICH) 180.4%
    47 3PAR Inc. (NYSE:PAR) 178.3%
    48 Netezza Corporation (NYSE:NZ) 177.9%
    49 Ruth’s Hospitality Group, Inc. (NASDAQ:RUTH) 174.7%
    50 Unica Corporation (NASDAQ:UNCA) 171.0%
    51 KEMET Corporation (AMEX:KEM) 168.9%
    52 Arbor Realty Trust, Inc. (NYSE:ABR) 168.8%
    53 Glimcher Realty Trust (NYSE:GRT) 168.5%
    54 American Capital Ltd. (NASDAQ:ACAS) 166.8%
    55 Synergetics USA Inc. (NASDAQ:SURG) 165.7%
    56 QuickLogic Corporation (NASDAQ:QUIK) 165.4%
    57 Otix Global, Inc. (NASDAQ:OTIX) 164.1%
    58 PFSweb, Inc. (NASDAQ:PFSW) 163.1%
    59 Wainwright Bank & Trust (NASDAQ:WAIN) 159.3%
    60 Travelzoo Inc. (NASDAQ:TZOO) 158.8%
    61 Air Transport Services Group Inc. (NASDAQ:ATSG) 157.6%
    62 NxStage Medical, Inc. (NASDAQ:NXTM) 154.9%
    63 Las Vegas Sands Corp. (NYSE:LVS) 154.2%
    64 Entropic Communications, Inc. (NASDAQ:ENTR) 153.1%
    65 ReneSola Ltd. (ADR) (NYSE:SOL) 152.7%
    66 Park-Ohio Holdings Corp. (NASDAQ:PKOH) 152.0%
    67 Akorn, Inc. (NASDAQ:AKRX) 151.4%
    68 Jones Soda Co. ( USA ) (NASDAQ:JSDA) 151.2%
    69 Baidu.com, Inc. (ADR) (NASDAQ:BIDU) 149.2%
    70 Central Jersey Bancorp (NASDAQ:CJBK) 149.2%
    71 Almaden Minerals Ltd. (USA) (AMEX:AAU) 148.6%
    72 Strategic Hotels & Resorts Inc. (NYSE:BEE) 147.9%
    73 LeCROY Corporation (NASDAQ:LCRY) 146.6%
    74 Simulations Plus, Inc. (NASDAQ:SLP) 146.4%
    75 Kraton Performance Polymers Inc (NYSE:KRA) 142.9%
    76 Radient Pharmaceuticals Corporation (AMEX:RPC) 141.7%
    77 51job, Inc. (ADR) (NASDAQ:JOBS) 141.3%
    78 Technical Communications Corporation (NASDAQ:TCCO) 140.2%
    79 China Southern Airlines Limited (ADR) (NYSE:ZNH) 139.3%
    80 Astronics Corporation (NASDAQ:ATRO) 138.6%
    81 Jingwei International Limited (NASDAQ:JNGW) 138.5%
    82 OccuLogix, Inc. (USA) (NASDAQ:TEAR) 138.4%
    83 Liberty Media Corp (Capital) (NASDAQ:LCAPA) 138.0%
    84 CardioDynamics Int’l Corp (NASDAQ:CDIC) 137.2%
    85 Acacia Research Corporation (NASDAQ:ACTG) 137.1%
    86 Crocs, Inc. (NASDAQ:CROX) 135.0%
    87 Power-One, Inc. (NASDAQ:PWER) 134.3%
    88 Spreadtrum Communications, Inc. (NASDAQ:SPRD) 132.6%
    89 Kronos Worldwide, Inc. (NYSE:KRO) 131.4%
    90 Arts-Way Manufacturing Co. Inc. (NASDAQ:ARTW) 131.4%
    91 MIPS Technologies, Inc. (NASDAQ:MIPS) 131.4%
    92 Industrial Services of America, Inc. (NASDAQ:IDSA) 130.3%
    93 Trimas Corporation (NASDAQ:TRS) 130.0%
    94 SIGA Technologies, Inc. (NASDAQ:SIGA) 129.0%
    95 Inhibitex, Inc. (NASDAQ:INHX) 128.3%
    96 Tech/Ops Sevcon, Inc. (NASDAQ:TO) 127.6%
    97 Harvest Natural Resources, Inc. (NYSE:HNR) 126.5%
    98 TOR Minerals Int’l, Inc. (NASDAQ:TORM) 125.0%
    99 Virtus Investment Partners, Inc. (NASDAQ:VRTS) 124.9%
    100 Measurement Specialties, Inc. (NASDAQ:MEAS) 124.2%
    101 Provident Financial Holdings, Inc. (NASDAQ:PROV) 123.9%
    102 Ballantyne Strong, Inc. (AMEX:BTN) 123.9%
    103 OpenTable Inc (NASDAQ:OPEN) 123.5%
    104 Renhuang Pharmaceuticals, Inc. (AMEX:RHGP) 123.4%
    105 US Airways Group, Inc. (NYSE:LCC) 122.1%
    106 First PacTrust Bancorp, Inc. (NASDAQ:FPTB) 121.5%
    107 Dorman Products Inc. (NASDAQ:DORM) 121.2%
    108 CPEX Pharmaceuticals, Inc. (NASDAQ:CPEX) 120.9%
    109 Mountain Province Diamonds, Inc. (AMEX:MDM) 120.4%
    110 EXACT Sciences Corporation (NASDAQ:EXAS) 120.4%
    111 Amarin Corporation plc (ADR) (NASDAQ:AMRN) 120.3%
    112 Lionbridge Technologies, Inc. (NASDAQ:LIOX) 120.0%
    113 LL&E Royalty Trust (NYSE:LRTR) 119.7%
    114 Benihana Inc. (NASDAQ:BNHNA) 119.3%
    115 Ramtron International (NASDAQ:RMTR) 119.2%
    116 Radware Ltd. (NASDAQ:RDWR) 118.2%
    117 Pharmacyclics, Inc. (NASDAQ:PCYC) 118.2%
    118 OMNI Energy Services Corp. (NASDAQ:OMNI) 117.5%
    119 Mariner Energy, Inc. (NYSE:ME) 117.3%
    120 Questcor Pharmaceuticals, Inc. (NASDAQ:QCOR) 117.3%
    121 RPC, Inc. (NYSE:RES) 117.1%
    122 Sirius XM Radio Inc. (NASDAQ:SIRI) 116.3%
    123 Kid Brands Inc (NYSE:KID) 116.0%
    124 United Continental Holdings, Inc. (NASDAQ:UAL) 115.3%
    125 LSB Corporation (NASDAQ:LSBX) 115.2%
    126 Quiksilver, Inc. (NYSE:ZQK) 114.4%
    127 Ashford Hospitality Trust, Inc. (NYSE:AHT) 113.4%
    128 iBasis, Inc. (NASDAQ:IBAS) 112.8%
    129 Cleveland BioLabs, Inc. (NASDAQ:CBLI) 112.7%
    130 Crown Crafts, Inc. (NASDAQ:CRWS) 112.1%
    131 ARM Holdings plc (ADR) (NASDAQ:ARMH) 111.9%
    132 HSW International, Inc. (NASDAQ:HSWI) 111.3%
    133 Zagg Inc (NASDAQ:ZAGG) 110.7%
    134 Crown Media Holdings, Inc (NASDAQ:CRWN) 110.3%
    135 First Federal of Northern Michigan Bancp (NASDAQ:FFNM) 110.2%
    136 InsWeb Corporation (NASDAQ:INSW) 109.2%
    137 Southern Connecticut Bancorp Inc. (AMEX:SSE) 108.8%
    138 NACCO Industries, Inc. (NYSE:NC) 108.4%
    139 Thermadyne Holdings Corp. (NASDAQ:THMD) 107.8%
    140 Nevsun Resources (USA) (AMEX:NSU) 107.8%
    141 BSD Medical Corporation (NASDAQ:BSDM) 107.8%
    142 Ladish Co., Inc. (NASDAQ:LDSH) 107.7%
    143 Miller Petroleum Inc (NASDAQ:MILL) 107.2%
    144 NN, Inc. (NASDAQ:NNBR) 107.1%
    145 CPI Corp. (NYSE:CPY) 106.9%
    146 Keryx Biopharmaceuticals (NASDAQ:KERX) 106.8%
    147 Finisar Corporation (NASDAQ:FNSR) 106.6%
    148 Houston American Energy Corporation (AMEX:HUSA) 106.5%
    149 American Oil & Gas Inc. (AMEX:AEZ) 105.5%
    150 ADC Telecommunications (NASDAQ:ADCT) 104.7%
    151 Cummins Inc. (NYSE:CMI) 104.4%
    152 Tuesday Morning Corporation (NASDAQ:TUES) 103.9%
    153 Sinclair Broadcast Group, Inc. (NASDAQ:SBGI) 103.7%
    154 Chipotle Mexican Grill, Inc. (NYSE:CMG) 103.3%
    155 Westwood One, Inc. (NASDAQ:WWON) 102.9%
    156 Osteotech, Inc. (NASDAQ:OSTE) 102.5%
    157 MIND C.T.I. Ltd. (NASDAQ:MNDO) 102.2%
    158 Cirrus Logic, Inc. (NASDAQ:CRUS) 101.9%
    159 Blonder Tongue Labs, Inc. (AMEX:BDR) 101.8%
    160 Universal Display Corporation (NASDAQ:PANL) 101.7%
    161 Casual Male Retail Group, Inc. (NASDAQ:CMRG) 100.9%
    162 Ocean Bio-Chem, Inc. (NASDAQ:OBCI) 100.0%
    163 Westell Technologies Inc. (NASDAQ:WSTL) 100.0%

  74. Simply Ravishing HEHEHE says:

    JJ,

    Looks like the volume is declining:

    http://finance.yahoo.com/echarts?s=%5EGSPC+Interactive#chart2:symbol=^gspc;range=3m;indicator=sma(50,200)+volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined

  75. Libtard says:

    Kramer just said that over the next 5 years, nothing will do better than gold. Time to sell.

  76. Juice Box says:

    JJ – Save the Robots already and Buy Buy Buy.. total NYSE retail trade volume yesteday was only 46k.

    Yesterday about 488 million shares out of 4.6 Billion Plus trades on the NYSE are traded in blocks.

    The most active NYSE member for program trading last week was Goldman Sachs Group Inc. (GS), followed by Morgan Stanley (MS) and Deutsche Bank AG (DB, DBK.XE).

    Rest is all Robot…

    RETAIL is dead..

    Numbers are here.

    http://www.nyxdata.com/Data-Products/Product-Summaries

  77. Simply Ravishing HEHEHE says:

    “Kramer just said that over the next 5 years, nothing will do better than gold. Time to sell.”

    Needs to find some saps to make his friends a quick buck prior to the overdue dollar rally.

  78. Libtard says:

    Facebook is down.

    American productivity just increased by 300%.

  79. Al Gore says:

    JJ,

    No offense buts its going to be poetic justice when those Wall St thieves get put out on the street.

    Speaking of retail buying.

    Wantan. Whats up with the fing short contracts on these miners? Are they driving it down so the big boys needing gold can buy up the juniors?

  80. Confused In NJ says:

    SEATTLE – When Maria Gianni is knocking on voters’ doors, she’s not bashful about telling people she is in the country illegally. She knows it’s a risk to advertise to strangers that she’s here illegally — but one worth taking in what she sees as a crucial election.

    The 42-year-old is one of dozens of volunteers — many of them illegal immigrants — canvassing neighborhoods in the Seattle area trying to get naturalized citizens to cast a ballot for candidates like Democratic Sen. Patty Murray, who is in a neck-to-neck race with Republican Dino Rossi.

    Pramila Jayapal, head of OneAmerica Votes, says the campaign is about empowering immigrants who may not feel like they can contribute to a campaign because they can’t vote.

    “Immigrants really do matter,” Jayapal said. “If we can’t vote ourselves, we’re gonna knock on doors, or get family members to vote.”

    So far the illegal immigrants going door-to-door aren’t meeting opposition.

  81. Juice Box says:

    For you viewing pleasure I give you dancing Barney Frank.

    http://www.youtube.com/watch?v=4QbNGnvBR7k&feature=player_embedded

  82. yo'me says:

    What determines currencies right now is alot of gambling.Too much speculation without minding the true value of the currency.The biggest determining factor must be the countries trade. If the countries trade deficit is high,the countries currency is over valued.If it is cheaper to buy goods to a foreign country the currnecy is over valued.This must be a prime factor in determing value of a currency.

  83. JJ says:

    “I see no hope for the future of our people if they are dependent on the frivolous youth of today.”
    The Greek Poet Hesiod,
    8thCentury BC

  84. JJ says:

    Juice Box, NYSE, really? They still in business?

    Trade starts like this a lot, send to the intrdealer brokers, ITG or ECNs, match what you can, onward to DE or BATS and remainder if any gets to NYSE. Heck with price improvements and flash trades along with PFOF it is a miracle the NYSE gets as much trades as it does

  85. Al Gore says:

    91.

    Re: Immigrants coming door to door.

    Let me tell you a story. During the 2008 election some limp wristed Obama volunteer knocked on my door and began spewing some garbage out of his filthy mouth. I slammed the door in his face. Next election I’m going to keep my Mossberg 500 next to the door.

  86. Outofstater says:

    BFF! Again! The FDIC never disappoints –

    Gordon Bank, Gordon, GA
    Progress Bank of Florida, Tampa, FL
    First Bank of Jacksonville, Jacksonville, FL
    http://www.fdic.gov/

  87. Double Down says:

    Calif. woman drove for months with dead body in passenger seat

    Former real estate agent had become used to the smell, police say

    http://www.msnbc.msn.com/id/39796763/ns/us_news-life/

  88. Outofstater says:

    #95 Check out this letter to the membership from the president of the Utility Workers Union of America regarding the Republicans in the upcoming election:

    “They are driving an agenda of constitutional fundamentalism which would take us back to a time when women couldn’t vote, when people could own slaves, when there was no Social Security or Medicare, and no protections for workers. We must do everything we can to stop them.”

    http://www.uwua.net/fall-2010/ever-forward.html

  89. Lamar says:

    d down (97)-

    And Gary wonders how RE agents can handle the aroma of cabbage boiled in stale Rheingold…

  90. Lamar says:

    stater (98)-

    What’s wrong with owning a few slaves?

    If we brought back slavery and debtors’ prisons, the economy would be cleaned up in five years.

  91. Lamar says:

    I much prefer the term, “indentured servant”.

    Much classier ring to it.

  92. Marilyn says:

    81 governement workers per square mile!! Holy shit. Do they all have pensions ????

  93. Lamar says:

    marilyn (102)-

    When it all plays out, none of them will have pensions.

  94. Fast Eddie says:

    Real estate contacts in both northern New Jersey and western New York State report that sales activity has remained exceptionally weak as the usual seasonal pickup in September has not occurred.

    Keep holding out for your price, sellers!! Recovery is just around the corner, I could feel it!! After all, you don’t give your house away!! Whatever you do, don’t sell!!

  95. Confused In NJ says:

    101.Lamar says:
    October 22, 2010 at 6:04 pm
    I much prefer the term, “indentured servant”.

    Much classier ring to it

    Kennedy’s Camelot was the start of Indentured Servitude for most of us. Under Ike we were still shopkeepers owning our own businesses. From JFK foward we owned nothing and became indentured servants.

  96. schabadoo says:

    Let me tell you a story. During the 2008 election some limp wristed Obama volunteer knocked on my door and began spewing some garbage out of his filthy mouth. I slammed the door in his face. Next election I’m going to keep my Mossberg 500 next to the door.

    The US public is too apathetic and docile.
    I wish people were less politically active and leave me alone.

  97. galgon says:

    Completely off topic request but perhaps someone will be able to help me out.

    Does anyone know where I can find/purchase a plastic 55 gallon barrel in central New Jersey. I have a great idea for a Halloween costume but I do not feel like driving 70 miles one way to get one off craigslist.

    Thanks in advance.

  98. Libtard says:

    Wow…looks like my payoff to the 2nd base umpire worked!

  99. Al Gore says:

    Market move of the day.

    Flash crash USD?

    http://finviz.com/futures_charts.ashx?t=DX&p=d1

    How the f do you explain that?

  100. onthebrink says:

    I remember seeing someone (Libtard maybe?) saying they got a great deal to Cancun for Christmas break. Could you share where you booked your vacation and what deal you got?

    Thanks!

  101. Pat says:

    Plastic 55 gal barrel. Contact the nearest pharmaceutical companies.

    Ask if they have any purified water containers laying around ready for disposal.

    You might get one.

  102. Confused In NJ says:

    7 banks closed in Fla., Ga., Ill., Kan., Ariz.
    Regulators close 7 banks in Fla., Ga., Ill., Kan., Ariz.; 139 US bank failures this year

    WASHINGTON (AP) — Regulators on Friday shut down a total of seven banks in Florida, Georgia, Illinois, Kansas and Arizona, lifting to 139 the number of U.S. banks that have fallen this year as soured loans have mounted and the economy has sputtered.

    The Federal Deposit Insurance Corp. took over the banks, the largest of which by far was Hillcrest Bank, based in Overland Park, Kan., with $1.6 billion in assets.

    A newly chartered bank subsidiary of Boston-based NBH Holdings Corp. was set up to take over Hillcrest’s assets and deposits. The new subsidiary is called Hillcrest Bank N.A.

    The FDIC and Hillcrest Bank N.A. agreed to share losses on $1.1 billion of the failed bank’s assets. Its failure is expected to cost the deposit insurance fund $329.7 million.

    Also shuttered were First Bank of Jacksonville in Jacksonville, Fla., with $81 million in assets; Progress Bank of Florida, based in Tampa, with $110.7 million in assets; First National Bank of Barnesville in Barnesville, Ga., with $131.4 million in assets; Gordon Bank of Gordon, Ga., with $29.4 million in assets; First Suburban National Bank in Maywood, Ill., with $148.7 million in assets; and First Arizona Savings, based in Scottsdale, Ariz., with assets of $272.2 million.

    Ameris Bank, based in Moultrie, Ga., agreed to assume the assets and deposits of First Bank of Jacksonville. Bay Cities Bank, based in Tampa, is buying the assets and deposits of Progress Bank.

    United Bank, based in Zebulon, Ga., is assuming the assets and deposits of First National Bank of Barnesville, while Morris Bank of Dublin, Ga., is assuming the deposits and $11.5 million of the assets of Gordon Bank. The FDIC will retain the rest for eventual sale.

    Seaway Bank and Trust Co., based in Chicago, is assuming the assets and deposits of First Suburban National Bank.

    The FDIC was unable to find a buyer for First Arizona Savings, and it approved the payout of the bank’s insured deposits. The agency said it will mail checks to depositors for their insured funds on Monday.

    In addition, the FDIC and Ameris Bank agreed to share losses on $60 million of First Bank of Jacksonville’s loans and other assets. The FDIC and Bay Cities Bank are sharing losses on $82.6 million of Progress Bank of Florida’s assets, while the agency and United Bank are sharing losses on $107.3 million of First National Bank of Barnesville’s assets.

    The FDIC and Seaway Bank and Trust are sharing losses on $116.6 million of First Suburban National Bank’s assets.

    The failure of First Bank of Jacksonville is expected to cost the deposit insurance fund $16.2 million; the failure of Progress Bank of Florida is expected to cost $25 million; that of First National Bank of Barnesville, $33.9 million; that of Gordon Bank, $9 million; First Suburban National Bank, $31.4 million; and First Arizona Savings, $32.8 million.

    Florida, Georgia and Illinois are among the states hardest hit by bank collapses, stemming from the meltdown in the real estate market that brought an avalanche of soured mortgage loans. The shutdowns Friday brought the number of bank failures in Florida this year to 27, and to 16 each for Georgia and Illinois.

    With 139 closures nationwide so far this year, the pace of bank failures exceeds that of 2009, which was already a brisk year for shutdowns with a total of 140. By this time last year, regulators had closed 106 banks.

    The pace has accelerated as banks’ losses mount on loans made for commercial property and development. Many companies have shut down in the recession, vacating shopping malls and office buildings financed by the loans. That has brought delinquent loan payments and defaults by commercial developers.

    The 2009 total of bank failures was the highest annual tally since 1992, at the height of the savings and loan crisis. The 2009 failures cost the insurance fund more than $30 billion. Twenty-five banks failed in 2008, the year the financial crisis struck with force; only three succumbed in 2007.

    The growing bank failures have sapped billions of dollars out of the deposit insurance fund. It fell into the red last year, and its deficit stood at $15.2 billion as of June 30.

    The number of banks on the FDIC’s confidential “problem” list jumped to 829 in the second quarter from 775 three months earlier, even as the industry as a whole had its best quarter since 2007, making $21.6 billion in net income. Banks with more than $10 billion in assets — only 1.3 percent of the industry — accounted for $19.9 billion of the total earnings.

    The FDIC expects the cost of resolving failed banks to total around $52 billion from 2010 through 2014.

    Depositors’ money — insured up to $250,000 per account — is not at risk, with the FDIC backed by the government. That insurance cap was made permanent in the financial overhaul law enacted in July.

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