I love Fridays, especially around 5pm or later for that is when the really bad news is released.
Ya know like 600,000 jobs lost in a month....(and notice how it's rounded down just a tad in most news reports..magically that 5 looks less scary than 6)
For tonight's evening bombshell we have Three U.S. Banks Shut by Regulators as Financial Crisis Deepens :
County Bank of Merced, California, with deposits of $1.3 billion and assets of $1.7 billion, was shut tonight by the state’s Department of Financial Institutions, according to an e-mailed statement from the Federal Deposit Insurance Corp. Westamerica Bancorporation, holding company for Westamerica Bank, acquired all the assets and deposits.
The Georgia Department of Banking and Finance closed McDonough-based FirstBank Financial Services Inc., which had $337 million in assets and $279 million in deposits as of Dec. 31, the FDIC said in a statement. The California Department of Financial Institutions shut Culver City-based Alliance Bank, with assets of $1.14 billion and $951 million in deposits.
3 all together. Usually bank failures are announced one at a time.