Bannon&Co.

The Economy Watch

February 25, 2009

Bannon & Co. monitors various media in efforts to best serve our clients.

It occurred to us that not everyone has the time to follow the tumultuous economic news as they would like.

These links to important and interesting perspectives about the economic situation are offered for your consideration as the stimulus bill is implemented.

Bill Bannon

President Lifts Tone, Reaches Out to Average Americans
The problem, one senior Obama aide notes, is that public anger at Wall Street and the banking world is "red hot" right now according to the WSJ.

I Ponied Up for Sheryl Crow?
I would ask Northern No Trust: If you're totally solvent, why are you taking my tax dollars? If you're not totally solvent, why are you giving my tax dollars to Sheryl Crow? Maureen Dowd in the NY Times.

Secretary of Golf
John Kerry's latest crusade from the Wall Street Journal.

Stress Test for Banks Exposes Rift on Wall St.
Big banks keep insisting that they have all the capital they need - a claim that might strike many people as absurd at a time the government is spending billions of taxpayer dollars to prop up the financial industry in this NY Times article.

Fed Chairman Says Recession Will Extend Through the Year
The Federal Reserve chairman, Ben S. Bernanke, offered a sober assessment of the national economy and the prospects of recovery to Congress on Tuesday, as reports of plunging housing prices and consumer confidence reinforced the grim outlook also in the NY Times.

Obama Casts Crisis as Chance to Overhaul Banking, Health Care
President Barack Obama framed the U.S. economic crisis as an opportunity to solve some of the nation's most intractable issues and signaled that more taxpayer money would be needed to end the credit crunch in this Bloomberg piece.

In Geithner We Trust Eludes Treasury as Market Fails to Recover
"Geithner was making noise on reining in derivatives, but he didn't push hard enough," from Bloomberg.

Banker in Obama speech recognized for his generosity
CNN reports on guests at the State of the Union address. Abess demonstrates the kind of "responsibility" the president has called for from high-profile financial CEOs, the White House said.

To see how the downturn in the economy effected neighborhoods served by several community financial institutions, a Consumer Sentiment Study - A Local View was conducted by Bannon & Co. in November 2008.

A follow-up study of consumers' opinions, particularly regarding their financial intentions and the role community based financial institutions can play in meeting their financial goals is being planned after the specifics of the plan are signed into law.

Because the study is shared by a number of financial institutions, the cost to each participant is considerably lower than if the study was conducted individually.

Click here for more information on how a Consumer Sentiment Study in neighborhoods served by your institution can provide key information to refine marketing strategies.

Contact Information
Phone: 978.443.1830
Online: Bannon & Co. Website

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