Archive for January, 2009
Saturday, January 31st, 2009
Well, she sounds angry and she says the right kind of things that get votes. Talk is cheap, though, so we will have to see if she can introduce any meaningful legislation.
<>
Posted in BREAKING NEWS! | No Comments »
Friday, January 30th, 2009
Ocala National Bank of Ocala, Florida, today became the ninth FDIC closure for the year with the FDIC itself taking receivership of the failed institution. More information is available at the FDIC webpage.
Ocala National Bank, Ocala, Florida, was closed today by the Office of the Comptroller of the Currency, and ...
Posted in FDIC FAILED BANKS | No Comments »
Friday, January 30th, 2009
Suburban Federal Savings Bank in Crofton, MD received a warning that it must be sold by Friday or it would be seized by the government. On Friday, the bank had not sold and was summarily seized, becoming the fifth bank seizure of the year.
Federal banking regulators have told Crofton-based Suburban Federal Savings ...
Posted in FDIC FAILED BANKS | No Comments »
Friday, January 30th, 2009
So far in 2009, the FDIC is keeping pace with its 2008 bank closure rate. MagnetBank of Salt Lake City, UT, became the fourth victim of the FDIC today. What is not typical is that an assuming institution could not be found, meaning that the FDIC had to step up to cover ...
Posted in FDIC FAILED BANKS | No Comments »
Friday, January 30th, 2009
The Office of Thrift Supervision has issued a cease-and-desist order to prevent New Frontier Bank of Greeley, CO, from taking on new business or extending fresh credit.
The cease-and-desist order, which was effective Dec. 2, but not reported publicly until Friday, states that the bank was involved in “unsafe or unsound ...
Posted in FDIC CEASE AND DESIST | No Comments »
Wednesday, January 28th, 2009
Wells Fargo reported a $2.55B fourth-quarter loss on the back of its own write-downs, while those of recently-acquired Wachovia added a further $11.2B to the tally. It’s foreboding for Wells Fargo, the Liar Bank, because its assorted accounting vulgarities could not keep it out of red ink for the first ...
Posted in Bank Bailout Count, BREAKING NEWS! | 1 Comment »
Wednesday, January 28th, 2009
Congressman Ron Paul questions Donald L. Kohn, Vice Chair of the Federal Reserve Board of Governors, at the House Financial Services Committee hearing on January 13, 2009.
Ben Bernanke decided the meeting wasn't important enough and didn't bother to attend.
<>
Posted in Bank Bailout Count, BREAKING NEWS! | No Comments »
Tuesday, January 27th, 2009
ROYAL BANK OF SCOTLAND is preparing to slam the barn door once the horses are gone. This is no ordinary execution of the age old ploy. In his one, Royal Bank of Scotland has seen to it that the stalls have been cleared and there's time enough for odor to waft ...
Posted in Bank Bailout Count, BREAKING NEWS! | No Comments »
Tuesday, January 27th, 2009
Ron Paul vintage!
<>
Posted in Bank Bailout Count, BREAKING NEWS! | No Comments »
Tuesday, January 27th, 2009
One might think that Andrew Cuomo smells opportunity. The self-aggrandizing New York State Attorney General has just subpoenaed John Thain in regards to the Merrill Lynch bonus payout fiasco.
It is being reported on CNBC (and now on Marketwatch) that Andrew Cuomo (one of the few law enforcement folks who actually take ...
Posted in Bank Bailout Count, BREAKING NEWS! | No Comments »
