Feds close banks in GA, FL - Must be Friday!

derryb

The economy must be improving:

Only three this time!

cohodk

And a new one came public.

http://www.fiercefinance.com/story/first-interstate-bancsystem-spark-more-bank-ipos/2010-03-25

PerryHall

<< <i>The economy must be improving:

Only thre this time! >>



I think the Feds are just running out of banks to close.

derryb

Most of them don't get closed, they just get absorbed by the highest bidder. When it's all over there will only be about 5 Very Big banks (as planned).

CaptHenway

<< <i>The economy must be improving:

Only three this time! >>




Um, I count four.......

RWB

During the 1920s the rate was 500 a year. Most depositors got little payout.
During the S&L crisis during the Regan administration hundreds of banks/S&Ls were closed. State chartered ones sometimes left nothing for depositors.

OPA

<< <i>During the 1920s the rate was 500 a year. Most depositors got little payout.
During the S&L crisis during the Regan administration hundreds of banks/S&Ls were closed. State chartered ones sometimes left nothing for depositors. >>



Yup...I remember it well ... Along with the RTC.

PerryHall

I remember when Old Court Savings and Loan went under in Baltimore. Before they closed their doors, there were lines several blocks long with people desperately trying to get their money out. I was working in downtown Baltimore at the time and when I saw what was going on, it was totally surreal. Talk about a flashback to the Great Depression. The S&L was state chartered and insured by the Maryland State Savings and Loan Insurance Commission and not by the State of Maryland as many had assumed. These S&L's paid a slightly higher interest rate than federal banks with real insurance---FDIC. After several years, the depositors were paid by the State of Maryland at the expense of the tax payers but they lost any interest.