From TARP to TLGP The original $750 billion TARP program created last year to bailout the banking industry caused a public uproar. The Treasury, the Federal Reserve and the President all predicted massive banking failures and economic collapse if the TARP bill was not passed. Congress finally passed the TARP legislation against the will of […]
Five Largest Failed Banks – The Biggest One Is Not On The FDIC Failed Bank List
May 10, 2009 By Leave a Comment
Five Biggest Bank Failures Ever As the US banking crisis grew steadily worse during 2008, the largest bank failure as of July 2008 (Indy Mac) ranked only number 3 on the list of the largest bank failures in history. 5 Biggest Bank Failures As Of July 2008 Institution Name Date $Assets Billions Continental Illinois 5/1984 […]
Is Corus Bankshares On The Problem Bank List?
May 8, 2009 By 2 Comments
Corus Bankshares Admits Dim Future Since the FDIC keeps its Problem Bank List secret, we cannot know for sure if Corus Bankshares is listed as a Problem Bank. Based on recent Corus financial disclosures, however, it appears certain that Corus will soon be on the very public Failed Bank List. Corus has been having major […]
FDIC 2008 Fourth Quarter Report
May 4, 2009 By 1 Comment
On April 22, 2009, the FDIC released their Quarterly Banking Profile for the Fourth Quarter of 2008. Banks insured by the FDIC reported $32.1 billion in net losses for the fourth quarter 2008. This was the first time since 1990 that the banks had a quarterly loss. In the fourth quarter of 2007 the banking […]
FDIC 2008 Third Quarter Report
December 22, 2008 By 1 Comment
On November 25, the FDIC released their Quarterly Banking Profile for the Third Quarter of 2008. Banks reported net income of $1.7 billion for the third quarter of 2008. This represents a decline of 94% from the third quarter of 2007. Banks reported $7.6 billion of losses on sales of securities for the quarter, compared […]