Illinois Rocked By 7 Banking Failures – Coincidence or FDIC Strategy? Regulators focused on Illinois this week as seven failed banks in that state were closed. An FDIC spokesman suggested that multiple bank closings in one particular state enhanced the bidding process for the failed banks, thus reducing FDIC losses. Whether or not this explanation […]
7 Banks Collapse – Stunning 42% Loss On Failed Bank Assets For FDIC
March 20, 2010 By Leave a Comment
2010 Banking Failures Increase To 37 As Seven More Banks Fail March 19 – The banking crisis continues as regulators closed seven failed banks, the largest number of lenders to collapse in one week this year. The seven failed banks for March 19, 2010 had total assets of $3.3 billion and total deposits of […]
FDIC May Need Taxpayer Bailout As Banking Failures Increase To 30
March 13, 2010 By Leave a Comment
2010 Banking Failures Increase To 30 As Three More Banks Fail The banking failures continue as regulators closed three more failed banks. The three failed banks for March 12, 2010 had total assets of $1.1 billion and total deposits of $1.0 billion. The cost to the FDIC Deposit Insurance Fund (DIF) for these latest […]
Government Taxes Prudent To Help Foolish With Mortgage Rescue Plans
March 7, 2010 By Leave a Comment
Banking Links – March 8, 2010 Volcker Says – Keep Rates Low And Spending High – Bloomberg Local Governments Seek To Renege On Bank Interest Rate Swaps – BI Hard Times To Follow Reckless Fed Policies And Easy Bank Lending – Telegraph Banks Facing Huge Losses On Mortgage Buybacks – Bloomberg The EURO Will Survive […]
Bank Depositors Lose Millions As FDIC Finds No Buyers For 2 Failed Banks
March 6, 2010 By Leave a Comment
Banking Failures in Florida, Illinois, Maryland and Utah Bring 2010 Total To 26 The weekly banking failures continue as regulators closed four more failed banks. The four failed banks for March 5, 2010 had total assets of $1.1 billion and total deposits of $1.0 billion. The cost to the FDIC Deposit Insurance Fund (DIF) […]
Buyers For Failed Banks Hard To Find As FDIC Loses $1.8 Billion On 7 Bank Closings
December 19, 2009 By 1 Comment
7 Banking Institutions Closed On December 18, 2009 – FDIC Forced To Retain $1.9 Billion In Failed Bank Assets – Depositors Lose $3.2 Million As the number of banking failures increase, the FDIC appears to be encountering increasing difficulty in finding buyers for failed banks, despite agreeing to cover a large percentage of potential losses […]