4 Banks Collapse Bringing 2010 Total To 20, OneWest Makes Billions On Failed Bank Purchases
Banking Failures in Texas, California, Illinois and Florida Bring 2010 Total To 20
Regulators continued their ritual of Friday night bank closings, shuttering 4 more banks across the country. The four failed banks had total assets of $4.2 billion and total deposits of $3.4 billion. The cost to the FDIC Deposit Insurance Fund (DIF) for [...]
Regulators Were Blind To Risk In Biggest U.S. Banking Failure
The most expensive banking failure in U.S. history was the closure of IndyMac Bank in July 2008. The original estimated loss to the FDIC of $8.9 billion has recently been increased to $10.7 billion or 33% of IndyMac’s assets at the time of closure. The story of how IndyMac Bank was allowed by regulators [...]
