Archive for the ‘other implodes’ Category

Carnation Banc

Friday, May 9th, 2008

Ohio-based Carnation Banc is gone. Less than a month after the ailing bank saw one of its managers plead guilty to corruption and securities offenses, the bank was put on the imploded list by the Mortgage Lender Implode-O-Meter.

Freemont General

Sunday, April 27th, 2008

When the stakes couldn't be higher and it came time to put up or shut up, Fremont General readily put it self up for sale: Fremont General Corp said on Monday it was selling its bank branches and deposits to CapitalSource Inc several weeks after U.S. regulators ordered the struggling California ...

Bear Stearns

Sunday, March 16th, 2008

2008-03-16: JP Morgan is going to devour Bear Stearns for $2.00 per share (another article). That's a meal folks not a rescue. After the steroid and credit crack-rush wore off the end came suddenly in the last year of the 85 year old bank's history. But this is only the ...

Northern Rock PLC

Monday, February 18th, 2008

It was the first British bank of the new century to see runs against it, as fear overwhelmed greed for the most conservative of investors and outrage overtook propriety in the most proper of countries, when everyone wondered whats next? ``I am shocked and appalled,'' said Robin Ashby, ...

Coast Bank

Tuesday, January 29th, 2008

Coast as it once was is done for as of Dec. 3, 2007: the bank was bought out in what we deem a "firesale" transaction by First Banks of St. Louis. See this article for more. Coast received $1.86 per share in the buyout. As ...