Van der Moolen

Van der Moolen, the Dutch market maker and broker that unsuccessfully tried to transform itself into a high frequency trading shop after being muscled out of the US market by increasingly algorithmic-focused competition, on Thursday filed for bankruptcy.

The bankruptcy of VDM can be attributed to a combination of factors that appeared in a period of a number of years: big losses in the US, unsuccessful new initiatives like Online Trader, decreasing revenues in connection due to the financial crisis and a cost pattern that structurally exceeded the benefits.

Adieu

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Is this institution broke?

Oh my...

Hello to the lads of Saxo Bank.
According to an August 12 report from investment bank Saxo Bank, the three bank failures on August 7 decreased the FDIC's Deposit Insurance Fund (DIF) to a measly $648.1 million. Well, five more banks failed last Friday, bringing the total this year to 77. And in the largest bank failure since Washington Mutual, Alabama-based Colonial BancGroup depleted the DIF by $2.8 billion. Community Bank of Nevada also failed, sucking another $781.5 million from the DIF. So according to Saxo Bank's numbers, the FDIC is officially bankrupt...

But in the FED we trust. The government will print more money in order to keep this institution alive. However, more trouble is brewing as the number of non-performing loans is still on the rise.

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