In what is running close to most projections, another six banks were closed on Friday by regulators, making it 15 bank closures for the year, running at a pace close to the expected 200 projected to be closed in 2010.
States having banks closed by regulators on Friday included Washington, California, Georgia, Florida and Minnesota. This [...]
All Posts Tagged With: "Bank Failures"
Regulators Close Another 6 Banks to Bring Total to 15 Already Closed in 2010
Goldman Sachs (NYSE:GS) Sued By Two Pension Funds Over Bonuses
The divisive issue of bonus payments to investment bankers reared its head again as it was announced that Goldman Sachs (NYSE:GS) is being sued by two pension funds over planned bonuses paid to employees. The plaintiffs in the lawsuit, released on Tuesday, maintain that the company shouldn’t use its normal methods for calculating bonuses in [...]
January 13th, 2010 | John | Comments | Continued
Horizon Bank of Washington is First Bank Failure of 2010
While the New Year didn’t start off with a bang as far as bank failures go, Horizon Banks’ failure on Friday is the first of what will probably be close to 200 bank failures in 2010; far exceeding the bank failures of 2009. This doesn’t include failed credit unions, which when added to 2009 bank [...]
January 11th, 2010 | Gary | Comments | Continued
FDIC Reports One Bank Failure To Start New Year Following The Most Costly Year In History
Following a year of record bank failures, the Federal Deposit Insurance Corporation announced just one bank failure for the first week of 2010. Horizon Bank of Bellingham, WA saw its assets and deposits seized by regulators on Friday and the FDIC was named receiver of the failed bank.
The one bank closure to kickoff 2010 is [...]
Editorial: Financial Crisis Theater Starring – Goldman Sachs (NYSE:GS), Bank of America (NYSE:BAC), JP Morgan Chase (NYSE:JPM), and Morgan Stanley (NYSE:MS)
The next production of government sponsored financial crisis theater is set to open this week in Washington DC, and has assembled an all star ensemble cast of Goldman Sachs (NYSE:GS), Bank of America (NYSE:BAC), JP Morgan Chase (NYSE:JPM), and Morgan Stanley (NYSE:MS). The play stars the Federal Crisis Inquiry Commission in the lead role as [...]
January 11th, 2010 | John | Comments | Continued
FDIC’s Deposit Insurance Fund Takes Another $1.8 billion Hit With Seven More Bank Closings
With the seven banks seized in the U.S. Friday by regulators, it brought the total for the year to 140, and will cost an estimated $1.8 billion to the FDIC deposit insurance fund, which has been operating in the red already.
The seven banks closed on Friday were spread across six states, with California being the [...]
Bank Closings for 2009 Surge to 133 as FDIC Seizes Three More
The Federal Deposit Insurance Corp. (FDIC) seized three more banks on Friday, bringing the total for the year to 133, with hundreds more on the problem bank list for next year, which could see a lot more failures going forward.
This week, banks in Florida, Kansas and Arizona succomed, costing an estimated $252 million more to [...]
FDIC Problem Bank List Surges to 552
In a report from the FDIC that the Deposit Insurance Fund has been operating in the red since the third quarter, down by $8.2 billion, there was other bad news, as the number of banks on the problem list of the FDIC has now risen to 552, which in reality is probably much worse than [...]
November 27th, 2009 | Gary | Comments | Continued
FDIC Problem Bank List Surges to 552
In a report from the FDIC that the Deposit Insurance Fund has been operating in the red since the third quarter, down by $8.2 billion, there was other bad news, as the number of banks on the problem list of the FDIC has now risen to 552, which in reality is probably much worse than [...]
November 25th, 2009 | Gary | Comments | Continued
FDIC Shutters Three More Banks on Friday the 13th
With the three banks closed on Friday the 13th, the total for the year has now reached 123. The banks taken over by the Federal Deposit Insurance Corporation included unsurprisingly, two in Florida and one in California.
The Florida banks were Orion Bank, Naples, Florida, and Century Bank, FSB, Sarasota, Florida. In California Pacific Coast National [...]
FDIC Board Unanimously Approves $45 Billion Prepay for Banks to Shore Up Deposit Insurance Fund
In an expected move, the board of the Federal Deposit Insurance Corp. unanimously approved a 3-year prepayment by banks to the tune of $45 billion in order to put liquidity back into the Deposit Insurance Fund, which ran out of money in the third quarter, and has been running at a deficit ever since.
The overall [...]
I am a Realtor trying to consumate a short sale for a senior citizen on social security with Citi holding ...
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It would seem that they see the light at the end of the tunnel...I just hope that what they see ...