The FDIC has deemed it necessary to publicly proclaim to that there is no “safer place in the world for your money” than an FDIC insured account. “No Safer Place In The World For Your Money” As bank failures are in the news, the FDIC is reminding consumers that our financial resources run deep and […]
FDIC Losses Total $1Billion On 3 Bank Failures
November 14, 2009 By Leave a Comment
Banking Failures Hit 123 As Of November 13, 2009 Regulators closed three additional banks today in Florida and California. The three failed banks had a total of 36 branches with total assets of $3.6 billion. The total cost to the FDIC Deposit Insurance Fund for the three failed banks is estimated at $986.4 million. The […]
Commercial Real Estate – The Most Widely Advertised Crash In History
November 12, 2009 By Leave a Comment
Is Armageddon Upon Us? Predictions of Armageddon for the commercial real estate market are being urgently issued daily by prognosticators of doom. Many analysts are breathlessly predicting that collapsed real estate prices ensure a mountain of defaulting commercial real estate loans that will lead to the failure of thousands of small and regional banks. […]
5 Banking Failures For November 6, 2009 Include 4th Largest Bank Failure Of 2009
November 7, 2009 By Leave a Comment
120 Banking Failures In 2009 Regulators closed 5 additional failed banks today in California, Missouri, Minnesota, Michigan and Georgia. Four of the five failed banks were relatively insignificant, having only 8 branches and total assets of $400 million. The largest failed bank of the week was United Commercial Bank, San Francisco, CA which had $11.2 […]
Regulators Attempt To Solve Commercial Loan Crisis With “Extend and Pretend” Guidelines
November 1, 2009 By Leave a Comment
“Huge Crash” In Commercial Real Estate Predicted The potential for massive losses on commercial bank loans has been an open secret for some time now. Both industry experts and regulatory agencies are concerned that a wave of defaults on commercial loans could result in billions of losses for an already weakened banking system. The latest […]
US Bank Takes Over 9 Failed Banks For October 30, 2009
October 31, 2009 By Leave a Comment
Banking Failures Hit 115 For 2009 The last week of October went out with a bang as regulators closed the largest number of banks in one week for 2009. All nine failed banks were subsidiaries of FBOP Corporation of Oak Park, Illinois. FBOP was not closed and not subject to the actions taken today by […]
One Failed Bank For October 16, 2009 – San Joaquin Bank
October 17, 2009 By Leave a Comment
Banking Failures – 99 And Counting The number of failed banks for 2009 has risen to 99. San Joaquin Bank of Bakersfield, California was closed by the California Department of Financial Institutions on Friday. The FDIC as receiver, entered into a purchase and assumption agreement with Citizens Business Bank or Ontario, California. San Joaquin Bank, […]
7 Reasons Not To Have Confidence In The Banking System
October 13, 2009 By Leave a Comment
Does the recent strong rally in the shares of bank stocks imply that the banking crisis is over, or are we looking at a mirage? Here are 7 reasons why the banking crisis may only be in the early stages of an ongoing crisis which could ultimately result in a lack of public confidence in […]
FDIC Chairman Says Critical Financial Reforms Needed
October 6, 2009 By Leave a Comment
In remarks to the International Institute of Finance, FDIC Chairman Sheila Bair cited the need for critical financial reforms that combine stronger regulation and market discipline. Ms. Bair stated that the “first task” should be to scrap the “too big to fail” doctrine by establishing a new resolution mechanism to handle the failure of large […]