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Care to guess the number of banks closed today?

WeissWeiss Posts: 9,941 ✭✭✭✭✭
Anyone? Anyone?

If you guessed 4, you guessed correctly.

Maryland, New York, Oklahoma Banks Shuttered as Failures Hit 90
July 09, 2010, 9:33 PM EDT

July 9 (Bloomberg) -- Four banks with $1.13 billion in combined assets were shut by regulators, sending the number of U.S. failures this year to 90.
Home National Bank of Blackwell, Oklahoma, was the largest bank to be seized, with $644.5 million of assets. Baltimore’s Bay National Bank and its two branches were shut. Regulators also closed Baltimore-based Ideal Federal Savings Bank and Port Chester, New York-based USA Bank.
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

  • Weiss, you got an up to date total for this year's haul? image
  • JustacommemanJustacommeman Posts: 22,847 ✭✭✭✭✭


    << <i>Weiss, you got an up to date total for this year's haul? image >>



    It was hidden in the first line of the release and also in the first line of the story. Sneaky ba$tard$ and cheeky monkeys image

    Maryland, New York, Oklahoma Banks Shuttered as Failures Hit 90
    July 09, 2010, 9:33 PM EDT

    July 9 (Bloomberg) -- Four banks with $1.13 billion in combined assets were shut by regulators, sending the number of U.S. failures this year to 90.

    MJ
    Walker Proof Digital Album
    Fellas, leave the tight pants to the ladies. If I can count the coins in your pockets you better use them to call a tailor. Stay thirsty my friends......
  • gsa1fangsa1fan Posts: 5,566 ✭✭✭
    How many will close with the Wells Fargo layoffs?
    Avid collector of GSA's.
  • roadrunnerroadrunner Posts: 28,303 ✭✭✭✭✭
    What is also not generally reported is that these banks have overvalued their assets typically by 30-100%. It's not uncommon at all to see shuttered banks being off by 60-80% in their valuations. The net result is those losses will eventually come back to Taxpayers when the assets are fully sold off/fail entirely.

    roadrunner
    Barbarous Relic No More, LSCC -GoldSeek--shadow stats--SafeHaven--321gold
  • johnny9434johnny9434 Posts: 28,313 ✭✭✭✭✭
    not to add to it but business'es are closeing just as fast in this area as well. nothing new
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