Six More Banking Failures Bring Year’s Total To 15 Regulators closed six banks today in Florida, Minnesota, California, Washington and two in Georgia. The six failed banks had total assets of $5.5 billion and total deposits of $4.9 billion. The total cost to the FDIC Deposit Insurance Fund for the six failed banks is estimated […]
Archives for January 2010
FDIC Bair Slaps Down Bernanke – Says Low Interest Rates Incited Financial Crisis
January 19, 2010 By Leave a Comment
Financial Meltdown Fueled By Misguided Fed Policies In an appearance before the Financial Crisis Inquiry Commission, FDIC Chairman Bair testified on behalf of the FDIC on the causes of the worst financial crisis since the Great Depression. Since the financial meltdown of 2008, many financial analysts and government officials have given eloquent after the fact […]
FDIC Sells Failed Bank Loans At Steep Discount
January 9, 2010 By Leave a Comment
Private Investors Make Very Leveraged Bet On Asset Value Recovery The FDIC currently holds approximately $30 billion in failed bank assets from banks that have failed in the past 18 months. The assets held by the FDIC were of such dubious quality that the FDIC was unable to entice acquiring banks to purchase them, despite […]