Big banks like Bank of America (NYSE: BAC) and Citigroup (NYSE:C) are still using free government money, in the form of low interest loans from the Temporary Liquidity Guarantee Program (TLGP), guaranteed by the FDIC. So while CEOs and industry spokespeople decry the government for its “interference” despite the fact they’ve paid back their TARP [...]
January 28th, 2010 | John | Comments | ContinuedAll Posts Tagged With: "FDIC"
Bank Closures in 2010 Begin in Earnest: Three More Closed, One with No Buyer
Three more banks in the U.S. were closed on Friday, and the FDIC wasn’t able to find a buyer for the largest of them all, forcing them to create what they call a bridge bank, which will exist temporarily for the purpose of customers to transfer their money somewhere else.
Although the year has started off [...]
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 [...]
FDIC Receives Welcome News – Mulitple Bidders For Troubled Loan Portfolio
The FDIC has received bids from over a dozen investors for a $1.1 billion dollar package of commercial real-estate loans that they acquired from various failed banks.
The portfolio consists of mostly nonperforming commercial property loans. Demand for these assets, at a discounted price, has grown intense. Investors have amassed billions of dollars to buy distressed [...]
2009 Bank Failures Hit 140 As Seven More Close; FDIC Unable To Find Buyers For All
The Federal Deposit Insurance Corporation (FDIC) announced Friday it was named receiver of seven more banks that were shutdown by the Office of Thrift Supervision (OTS). The closures now bring the 2009 failed bank list to 140.
Georgia, which continues to lead the country in bank failures, saw RockBridge Commercial Bank, in Atlanta GA, shutdown. However, [...]
FDIC Postpones Capital Requirements for Wells Fargo (NYSE:WFC), Citigroup Inc. (NYSE:C), Bank of America Corp. (NYSE:BAC) and JPMorgan Chase & Co. (NYSE:JPM)
Blaming former rules which allowed banks to effectively keep assets and liabilities off of their books and look stronger than they actually were, the Financial Accounting Standards Board changed that to where billions of assets and liabilities would now be forced to be listed on the books of banks like Wells Fargo (NYSE:WFC), Citigroup Inc. [...]
December 16th, 2009 | Gary | Comments | Continued
FDIC Chairman Sheila Bair Wants to Create Fund Forcing Banks to Contribute: Would Protect Against Big-bank Failures She Says
The U.S. government and its representative workers like FDIC chairman Sheila Bair, still don’t get why they should leave the market alone and let it work out its own problems and challenges. In Bair’s case, the latest potential interference is to force banks (and other secured creditors) to create a fund in order to protect [...]
December 9th, 2009 | Gary | Comments | Continued
FDIC Shutters Six More Banks, Total ‘09 Failures Hit 130
The Federal Deposit Insurance Corporation announced Friday it shuttered six more banks, bringing total bank failures in 2009 to 130. The FDIC did not report any bank closures a week ago, November 27.
Georgia, which has seen a large share of bank failures this year, saw three banks taken over by regulators Friday. Those included Buckhead [...]
FDIC Study Shows One In Four U.S. Households Are Not Using Banks
The Federal Deposit Insurance Corporation (FDIC) released the findings from its FDIC National Survey of Unbanked and Underbanked Households on Wednesday. Results from the study showed that about one of every four U.S. households is either using banking services on a very limited basis or not at all.
The survey was conducted by the U.S. Census [...]
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
Yeah he can really say that if the government is waiting for the release of the positive result which will ...
I've only seen blog mentality reporting from this site, and don't take much merit in anything it says. 
This dog of a stock is finally moving in the right direction, and then "Citibank's team of equity strategists" downgrade ...