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This Week in Bank Failures
21 hours ago ago from The Shamanic Economist
Tonight is the finale for bank failures in 2009 as the year winds down. With the wheels of commerce slowing down for two holiday weekends, more bank failures will happen only if something sudden and unexpected occurs at a particular bank. There were 140 bank failures in 2009, five times the pace of 2008. If past bank failure episodes are a guide, the number of failures will double in 2010, and the end of 2010 will mark the midpoint of the ...
Related contentImperial Capital Bank, La Jolla, California
18 hours ago ago from Bank-Implode!
The 139th FDIC-insured institution to fail in the nation this year is Imperial Capital Bank, La Jolla, California . The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $619.2 million. Imperial Capital Bank, La Jolla, California, was closed today by the California Department of Financial Institutions, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. To protect the depositors, the FDIC ...
Related contentBank Failures Rise To 138
18 hours ago ago from Exclusive Economy
The FDIC seized four more banks, raising the totaled number of failed U.S banks in 2009 to 138. Small(regional) banks are failing nearly every week due to the loan losses from the credit boom. Brief Rundown; Bank Assets Deposits RockBridge Commercial Bank (Atlanta) $294 million $291.7 million New South ...
Related contentRegulators bang 2 big Calif. banks, 5 others
10 hours ago ago from EcoBizWatch - Economy and Business News Watch
EcoBizWatch Economy and Business News Watch H O M E Stock Markets Business & Economy Finance Industries Company Earnings VIDEOS Regulators bang 2 big Calif. banks, 5 others WASHINGTON Regulators on Friday shut bottomward two big California banks, as able-bodied as banks in Alabama, Florida, Georgia, Michigan and Illinois, bringing to 140 the cardinal of U.S. banks brought bottomward ...
Related contentWhy are banks so desperate to get out of TARP?
23 hours ago ago from Views from the Left Coast
Talk about ingratitude! News that two of the country's largest banks have agreed to raise billions of dollars from investors to pay back bailout loans from U.S. taxpayers seems preposterous on its face and even worse after a little thought. Citigroup has reached a deal with federal regulators to repay $20 billion, after the government sells its $25 billion stake in company stock, according to Cable News Network (CNN) , and the government has ...
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FDIC Shuts Down Seven More Banks
3 hours ago ago from Huffington Post
WASHINGTON Regulators on Friday shut down two big California banks, as well as banks in Alabama, Florida, Georgia, Michigan and Illinois, bringing to 140 the number of U.S. banks brought down this year by the weak economy and mounting loan defaults. The Federal Deposit Insurance Corp. took over all seven. Regulators shuttered First Federal Bank of California, based in Santa Monica, with $6.1 billion in assets and $4.5 billion in deposits, ...
Related contentGeithner: TARP Repayments Don't Hurt Bank Lending Ability
9 hours ago ago from Huffington Post
Bloomberg : Treasury Secretary Timothy Geithner said U.S. banks aren't hurting their ability to lend as they repay the Troubled Asset Relief Program and back away from government assistance. "By replacing the Treasury investments with private capital, banks have stronger capital positions, and will be in a better position to expand lending... Read the whole story: Bloomberg
Related contentBig Opportunity in Four Big Banks - Barrons.com
5 hours ago ago from Barron's Online
Big Opportunity in Four Big Banks By ANDREW BARY MORE ARTICLES BY AUTHOR Shares of JPMorgan, Bank of America, Wells Fargo and Citigroup look attractive, with earnings poised to rise sharply in coming years. Subscribe Now With these readers: Or copy the rss link: THE POOR RECEPTION FOR CITIGROUP'S BIG EQUITY offering ...
Related contentRobert G. Wilmers: Not All Banks Are Created Alike
17 hours ago ago from Wall Street Journal
Congress is moving rapidly toward new financial-services regulation, focused on limiting the sort of "systemic risk" said to have helped bring on the current recession. But we are also in a period where there is great concern about the limited availability of credit to fund companies whose growth could bring down the country's persistent high unemployment. Any new regulation of the financial industry must distinguish between firms engaged ...
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