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 […]
5 Banking Failures For November 6, 2009 Include 4th Largest Bank Failure Of 2009
November 7, 2009 By Leave a Comment
Banking News
November 1, 2009 By Leave a Comment
To Rein In Pay Rein In Wallstreet Why are financial industry paychecks so big? Those who want to do something about bringing that pay down ought to focus on why there has been so much money in the financial sector in recent years. It should be no surprise that people in that business wanted to […]
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 […]
FDIC Bank Debt Guarantee Program To End
October 21, 2009 By Leave a Comment
FDIC Ends TLGP But Leaves Door Open For “Emergency Financing” The FDIC issued a final ruling to phase out the Temporary Loan Guarantee Program (TLGP) by October 31, 2009. In order to conclude the TLGP in an orderly manner, however, the FDIC established a “limited emergency guarantee facility” for institutions that might be unable to […]
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 […]
Banks Turn Blind Eye To Commerical Real Estate Losses
October 8, 2009 By Leave a Comment
The attitude of banks towards the collapse of commercial real estate seems to be ” ignore it and it will go away”. Sometimes this strategy works, sometimes it doesn’t. Right now, this “see no problem” attitude is beginning to raise eyebrows as losses on commercial real estate loans expand while corresponding loss reserves decline. Consider […]
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 […]