New Frontier Bank seized by the FDIC to become the 23rd bank failure of 2009
Another bites the dust. New Frontier was a little bigger than the most we have seen this year at $2 billion in assets and $1.5 billion in bank deposits. This trend will continue sadly and we will see...
View ArticleFDIC closes 4 more U.S. banks to bring the 2009 total to 44
And more to come. Many loans are going into default and that puts stress on the banks to raise their reserves to they are within federal and state guidelines for capital reserves ratios to deposits....
View ArticleSeven more U.S. banks fail going into the holiday weekend, brings total to 52...
The market does not like this news. The Dow down over 2.5% at the time of this writing. This does seem to be accelerating and that does not bode well as a sign for future events to pass. We are going...
View ArticleFDIC closes an additional 5 U.S. banks to bring total to 69 failed banks for...
Wow, the U.S. bank failures are picking up speed in 2009. We should see premiums increase in the coming months or some other emergency action to bring more backing to the FDIC fund. Just in these...
View Article“Too big to fail” must end for all according to FDIC’s chairman Sheila Bair
I agree with this policy but having it actual becomes practice is another. Problem is that letting large firms at this time is not politically feasible currently. We have administration that is...
View ArticleFDIC’s Shelia Bair is cautious on authority to break up “too big to fail” banks
Looks like Chairman Bair is getting in line with the Administration’s thinking that breaking up the “too big to fail” banks. They think it is better to regulate them or create “glass ceilings” for...
View ArticleMerrill Lynch moving derivatives to BofA FDIC insured bank unit
Utter garbage. How can we sit back and let a bank move a massive load of liabilities to a banking unit that has deposits and is backed by the U.S. taxpayers via the FDIC? No surprise the Federal...
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