Dockside Chat - Bank #18 Bites the Dust

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Eyeball

03-20-2009, 05:11 PM

Bank failure #18 -- so far, this year, and we aren't even 25% into the year.

WASHINGTON, March 20 (Reuters) - U.S. bank regulators on Friday closed FirstCity Bank of Stockbridge, Georgia, the 18th U.S. bank to fail this year as the struggling economy and falling home prices take their toll on financial institutions. ...

In 2008, 25 U.S. banks were seized by officials, up from only three in 2007.

http://www.reuters.com/article/marketsNews/idUSN2051508220090320

doughnut

03-20-2009, 06:37 PM

Thank goodness for the FDIC! ;)

BWO

03-20-2009, 06:43 PM

Missa Eyeball: Does your DOA tally now include the 2 failed wholesale credit unions taken over today - US Central in Kansas and WesCorp in California? Aw, heck, what's another 57 billion in assets?

Eyeball

03-20-2009, 11:24 PM

Missa Eyeball: Does your DOA tally now include the 2 failed wholesale credit unions taken over today - US Central in Kansas and WesCorp in California? Aw, heck, what's another 57 billion in assets?

No. Just heard on the radio we are up to 20-bank failures, today. :thumbsup: