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Two More Banks Fail, Total For 2009 Is Now 23 Banks
AP:
Federal regulators shut down two more banks Friday, raising the number of bank failures so far this year to 23.
The first bank was Cape Fear Bank in Wilmington, N.C., the first North Carolina bank to fail in nearly 16 years. The other bank was New Frontier Bank of Greeley, Colo., the second Colorado bank this year to collapse.
The Federal Deposit Insurance Corp. took over both banks Friday after their respective state regulators closed them down.
The FDIC did not tap a buyer for New Frontier Bank, and instead created the Deposit Insurance National Bank of Greeley. The FDIC named San Francisco-based Bank…
13Apr2009 | The Real Deal | 0 comments | ContinuedRBC Says 1000 Banks May Fail
As many as 1,000 U.S. banks may fail in the next three to five years, almost double the one-year tally at the height of the saving-and-loan collapse, as losses mount on commercial real-estate loans, RBC Capital Markets analysts said.
Most of the failures will probably occur at banks with less than $2 billion in assets as their commercial customers default, said Gerard Cassidy, an analyst at RBC, in an interview today.
My comment: Quite a bit of the banking system is insolvent. It is apparent to me at this point that they have no idea how big the problem is or how…
12Feb2009 | The Real Deal | 0 comments | ContinuedDemocracy My A**
During the most recent turn in the financial debacle, and in a masterful display of “perception management”, the bill to inject a further $700 Billion dollar remedy into the $500 TRILLION dollar (derivatives-driven) problem was amped up to $812 Billion and passed during a late Friday vote. Raising the maximum insurable amount for bank deposits to $250,000 from $100,000 during the process is actually a sneaky and effective way to add untold trillions more ostensibly to the total bailout number if banks continue to fail in quanitity.
Any semblance of a democratic or capitalistic appearance to addressing this problem has now…
10Oct2008 | The Gold Report | Comments Off | Continued
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