Bank Failure Friday: #65-68

Submitted by midtowng on Fri, 07/31/2009 - 16:55

First State Bank of Altus in Altus, Oklahoma
The ironically named Integrity Bank of Jupiter, Florida
Peoples Community Bank of West Chester, Ohio
First Bankamericano of Elizabeth, New Jersey

‹ Durable Goods down 2.5% - Another sign of a non-recovery "recovery" Commercial real estate outlook is bad and getting worse ›

Bloomberg reports #69

Submitted by Robert Oak on Sat, 08/01/2009 - 11:28.

They have a tally of 69 failures total.

Beyond the fact that we have a pattern of burying the news on Friday @ 5pm EST, what are the bigger implications on all of these failures?

Ya know, it's like, ok, it's almost routine, like Happy Hour or something to see Bank Failure Friday.

I'm now out of touch with the implications. Is the FDIC still have funding, what's this mean to the taxpayer long term and so on.

I mean with something like Citigroup and AIG being predicted to never pay back even TARP (and lord knows what else they have from the Fed.) $1B here, $2.67B here seems like chump change.

The numbers are so massive it's warped even my perspective.

Syndicate content