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Must be Friday: 4 bank closures.

WeissWeiss Posts: 9,941 ✭✭✭✭✭
in Precious Metals
Feb. 19, 2010, 10:04 p.m. EST
La Jolla Bank among 4 new closures
By Russ Britt, MarketWotch

LOS ANGELES (MarketWotch) -- La Jolla Bank in the San Diego area was among four banks shuttered by authorities Friday, bringing the total to 20 financial institutions closed since the beginning of the year.

La Jolla had $3.6 billion in assets.
George Washington Savings (Illinois) had $412.8 million in total assets.
La Coste National Bank of La Coste, Texas had $53.9 million in assets.
Marco Community Bank of Marco Island, Fla. had $119.6 million in assets.
We are like children who look at print and see a serpent in the last letter but one, and a sword in the last.
--Severian the Lame

Comments

  • percybpercyb Posts: 3,324 ✭✭✭✭
    Yep. Every Friday we get the busted bank list and I've noticed it's usually 4.
    "Poets are the unacknowledged legislators of the world." PBShelley
  • gsa1fangsa1fan Posts: 5,566 ✭✭✭


    << <i>Yep. Every Friday we get the busted bank list and I've noticed it's usually 4. >>



    Keep number low, spread out, & steady to avoid to much attention-PANIC!
    Avid collector of GSA's.
  • KUCHKUCH Posts: 1,186


    << <i>Feb. 19, 2010, 10:04 p.m. EST
    La Jolla Bank among 4 new closures
    By Russ Britt, MarketWotch

    LOS ANGELES (MarketWotch) -- La Jolla Bank in the San Diego area was among four banks shuttered by authorities Friday, bringing the total to 20 financial institutions closed since the beginning of the year.

    La Jolla had $3.6 billion in assets.
    George Washington Savings (Illinois) had $412.8 million in total assets.
    La Coste National Bank of La Coste, Texas had $53.9 million in assets.
    Marco Community Bank of Marco Island, Fla. had $119.6 million in assets. >>



    A family member was banking with Marco Community bank, will keep you posted what transpires now. Money was all FDIC insured. If you look at all the assets above, that's alot of printing image
  • percybpercyb Posts: 3,324 ✭✭✭✭
    My bank in Chicago went bust last fall. Park National. It's now US Bank... out of Minn. Thank God I was protected. The transition was smooth and all of my savings were secure. Great country we live in...God Bless America!
    "Poets are the unacknowledged legislators of the world." PBShelley
  • dino2008dino2008 Posts: 341 ✭✭
    I missed out. Did any shutter the previous week???
  • CaptHenwayCaptHenway Posts: 32,128 ✭✭✭✭✭
    That George Washington Savings Bank had their main office right near the Denny's we go to. Great big fancy whorehouse building built when times were flush.....in 2005.
    .
    TD
    Numismatist. 50 year member ANA. Winner of four ANA Heath Literary Awards; three Wayte and Olga Raymond Literary Awards; Numismatist of the Year Award 2009, and Lifetime Achievement Award 2020. Winner numerous NLG Literary Awards.
  • tincuptincup Posts: 5,130 ✭✭✭✭✭
    I don't think there were any the previous week.

    Unfortunately, these bank closures are so routine now that the public take little if any notice of it. They are basically ignored. Keep watching American Idol while the country burns and crashes.
    ----- kj
  • CaptHenwayCaptHenway Posts: 32,128 ✭✭✭✭✭
    Washington D.C. was shut down for most of a week due to the blizzard. That probably slowed down the closings.
    TD
    Numismatist. 50 year member ANA. Winner of four ANA Heath Literary Awards; three Wayte and Olga Raymond Literary Awards; Numismatist of the Year Award 2009, and Lifetime Achievement Award 2020. Winner numerous NLG Literary Awards.
  • fastrudyfastrudy Posts: 2,096 ✭
    It has only been 8 Fridays thus far in the year. Does anybody have a site that tells you how many close each Friday...I will graph the results and share.
    Maybe every Wednesday we can take a "Friday Bank Closings Poll" and give Zimbabwe money to each week's winner.
    Successful transactions with: DCarr, Meltdown, Notwilight, Loki, MMR, Musky1011, cohodk, claychaser, cheezhed, guitarwes, Hayden, USMoneyLover

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  • gsa1fangsa1fan Posts: 5,566 ✭✭✭


    << <i>It has only been 8 Fridays thus far in the year. Does anybody have a site that tells you how many close each Friday...I will graph the results and share.
    Maybe every Wednesday we can take a "Friday Bank Closings Poll" and give Zimbabwe money to each week's winner. >>



    Google; FDIC bank closings.
    Avid collector of GSA's.
  • dino2008dino2008 Posts: 341 ✭✭
    I'll take the Zimb. cash.... may be worth more than ours soonimage
  • KUCHKUCH Posts: 1,186
    Spoke with family member banking at Marco Community Bank, now Mutual of Omaha. (bankrupt as of Friday) Said bank was open today (Sunday) and line of customers taking care of business. Wonder if they were withdrawing?
  • FistFullOfDollarsFistFullOfDollars Posts: 359 ✭✭✭


    FDIC list

    bankimplode.com

    ml-implode.com



    I have a very strict gun control policy: if there's a gun around, I want to be in control of it - Clint Eastwood
  • derrybderryb Posts: 36,795 ✭✭✭✭✭
    How bad could it get?
    They have our money, what more could they want:

    image

    On a serious note, the FDIC is in trouble. Keep your eyes out for a major bailout there.

    "Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey

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