778!

Wow. There's a number we'll never forget. The largest one day stock market drop in history courtesy of the U.S. House of Representatives.

Dum, Dum, Dum.....Another One Bites The Dust...

And another one gone and another one gone...

After the FDIC seized all of Washington Mutuals assets, JPMorgan Chase acquires WaMu's assets for $1.9 billion. Washington Mutual is, or should I say was, the nation's largest savings and loan. The demise of WaMu is the largest failure ever of a U.S. bank.

From FDIC Chairman (err, Chairwoman) Sheila Bair: "For all depositors and other customers of Washington Mutual Bank, this is simply a combination of two banks. For bank customers, it will be a seamless transition. There will be no interruption in services, and bank customers should expect business as usual come Friday morning."

What EXACTLY is business as usual now-a-days anyway?

There's A Bailout Plan...

Wait, no there's not. Ok, yes there is. Oops, no there's not.

Congress Considers Bailout Plan

Federal Reserve Chairman Ben Bernanke and Treasury Secretary Henry Paulson appeared before Congress today to advocate swift passage of the $700 billion bailout plan. 11 federally insured banks and thrifts have failed so far this year with another, Washington Mutual Inc., hanging by a thread.

Update 09/25/08: Bailout agreement reached.

The Strength To Be There?

The Federal Reserve is stepping in again. This time they're handing out $85 billion to A.I.G. Insurance Company. A.I.G., teetering on bankruptcy in recent days, is the biggest insurance company in the world. So much for being there.

Buy...Buy...Buy

They bought Countrywide. They bought LaSalle. Now Bank of America is buying struggling Merrill Lynch. B of A, with the most deposits of any U.S. bank, would acquire the world's largest brokerage.

Meanwhile, Lehman Brothers files for Chapter 11 bankruptcy.

To Seal Or Not To Seal

Stamp/Seal Requirements for all 50 states.

And A Two...

The next member to be added to the Michigan Notary Network is ....(drum roll).... Terri Seever. Terri is in Petoskey, Michigan and covers over 30 counties. Whew. Terri has been a Mobile Notary Signing Agent for three years and has performed over 1300 signings. Prior to that, Terri worked in a real estate office for four years conducting in-house closings as well as calculating closing numbers and drawing all documents. From my conversations with Terri, it's clear that she projects the professional and positive image necessary to succeed as a Notary Signing Agent.

Welcome Terri!

And A One...

I'm excited to report that we have our first addition to the Michigan Notary Network. Marilyn Pitts is joining the MNN. Marilyn is in the Flint, Michigan area and covers Genesee, Shiawasse, and Saginaw Counties. Marilyn spent 25 years in the banking industry prior to becoming a Notary Signing Agent. She started as a teller for four years, then became a loan officer, and eventually worked her way to branch manager. She's been an NSA since 2000 and has performed over 5000 signings. Marilyn's reputation precedes her. As a prior closing and funding manager for a wholesale lender, Renee Kovacs has seen Marilyn's work cross her desk on numerous occasions. Marilyn's work was impeccable.

Welcome Marilyn!

Fannie & Freddie Bailout Appears Imminent

The rumored government bailout (translation: paid for by taxpayers) for Fannie Mae and Freddie Mac appears to be set (see the July 11th post). An announcement is expected as early as this weekend. If so, it would be one of the biggest government bailouts in United States history. The takeover includes a plan to introduce captial on a quarterly basis in an attempt to minimize the cost.

Google Chrome

Google is taking aim at Microsoft and its Internet Explorer browser. Today they're releasing Google Chrome, a supposedly simpler and faster way to browse the Internet. We shall see. Google gets a lot of things right, so I'm excited to see how Chrome compares to I.E. & Firefox.

Download Google Chrome