Troubled Bank Gets US TARP Funds After Senator Intervenes Many US officials at the Treasury and Federal Reserve have criticized Japan’s policy of propping up Zombie banks and therefore prolonging their banking crisis. The theory was that the weakest banks made the worst lending decisions and should be allowed to fail instead of being subsidized […]
Political Influence Saves Troubled Bank – Case Of Central Pacific Financial
July 1, 2009 By Leave a Comment
Ground Zero Of The Housing Collapse – CA, FL, AZ, NV
June 30, 2009 By 1 Comment
FDIC 2009 Economic Landscape The FDIC Economic Landscape Report details how the out of control lending mania created the perfect housing storm. The largest housing bust in US history centers in four states which had the largest housing price increases and are now suffering the consequences of a boom gone bust. The Sand States: Anatomy […]
5 Failed Banks For June 26, 2009- Quarter Billion Dollar FDIC Loss
June 26, 2009 By Leave a Comment
Failed Banks: Community Bank of West Georgia, Neighborhood Community Bank, Horizon Bank, Metro Pacific Bank and Mirae Bank There were five more failed banks this week on June 26, 2009 as detailed below: Community Bank of West Georgia, Villa Rica, Georgia Neighborhood Community Bank, Newnan, Georgia Horizon Bank, Pine City, Minnesota MetroPacific Bank, Irvine, California […]
More Georgia Banking Failures – Depositors Face Losses Of $1.1 Million
June 26, 2009 By Leave a Comment
Failed Banks: Community Bank of West Georgia and Neighborhood Community Bank, 6/26/2009 Georgia continues to live up to its name as the Failed Bank Capital of the US with two more banking closures today of Community Bank of West Georgia, Villa Rica, GA and Neighborhood Community Bank, Newnan, Georgia. For all of 2009 to date, […]
How Many Times Can A Failed Bank Be Rescued?
June 23, 2009 By Leave a Comment
TARP Funds Fail To Save Some Banks Most of the headline news on the banking industry centers on the largest banks paying back TARP funds previously received from the US Government. Less focus is being given to the numerous smaller banks in the country that received TARP money but apparently need additional bailout funds as […]
Failed Banks For June 19, 2009 – FDIC Losses Total $363 Million
June 20, 2009 By Leave a Comment
Failed Banks: Southern Community Bank, Cooperative Bank and First National Bank There were three more failed banks this week on June 19 – Southern Community Bank, Fayetteville, Georgia and Cooperative Bank, Wilmington, North Carolina and First National Bank of Anthony, Anthony, Kansas. 2009 has now seen a total of 15 more failed banks than occurred […]
Sheila Bair Comments on Banks “Too Big To Fail”
June 17, 2009 By Leave a Comment
FDIC Chairman Sheila Bair Comments on Obama Administration’s Regualtory Reform The FDIC released Sheila Bair’s comments today regarding the new financial regulatory reform proposed by the Obama administration. FDIC Chairman Sheila C. Bair said, “I commend President Obama for his leadership on financial regulatory reform and his inclusive approach to policy development. There are key […]
How Georgia Became The Failed Bank Capital Of The U.S.
June 15, 2009 By Leave a Comment
California, Florida and Arizona are widely known to have had the most dramatic property declines since housing starting crashing in 2005. Logically, one would assume that the majority of banking failures occurred in these three States, but that is not the case as can be seen below. 2008-2009 Banking Failures State Number of Failed Banks […]
Failed Banks For June 5, 2009
June 5, 2009 By Leave a Comment
Failed Bank: Bank of Lincolnwood, Lincolnwood, Illinois There was one more failed bank this week on June 5 – Bank of Lincolnwood, Lincolnwood, IL. The last two banking failures occurred on May 22, 2009. There have now been 12 more banking failures in 2009 than occurred for all of 2008. The FDIC closure of the […]
Answers To Common Questions By Depositors When A Bank Fails: One Answer That May Surprise You
June 4, 2009 By 4 Comments
Common Questions By Failed Bank Customers The closing of a failed bank is usually a routine event but most people will have questions about how the closing of their bank will affect them. Many people, for example, may be surprised when they find out how the interest rate on their savings can change when a […]