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

derrybderryb Posts: 38,586 ✭✭✭✭✭
in Precious Metals
The economy must be improving:

Only three this time!

Government is the great fiction through which everybody endeavors to live at the expense of everybody else. - Bastiat

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    RedneckHBRedneckHB Posts: 20,200 ✭✭✭✭✭
    And a new one came public.

    http://www.fiercefinance.com/story/first-interstate-bancsystem-spark-more-bank-ipos/2010-03-25
    Excuses are tools of the ignorant

    Knowledge is the enemy of fear

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    PerryHallPerryHall Posts: 47,582 ✭✭✭✭✭


    << <i>The economy must be improving:

    Only thre this time! >>



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

    Worry is the interest you pay on a debt you may not owe.
    "Paper money eventually returns to its intrinsic value---zero."----Voltaire
    "Everything you say should be true, but not everything true should be said."----Voltaire

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    derrybderryb Posts: 38,586 ✭✭✭✭✭
    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).

    Government is the great fiction through which everybody endeavors to live at the expense of everybody else. - Bastiat

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    CaptHenwayCaptHenway Posts: 33,998 ✭✭✭✭✭


    << <i>The economy must be improving:

    Only three this time! >>




    Um, I count four.......
    Numismatist. 54 year member ANA. Former ANA Senior Authenticator. Winner of four ANA Heath Literary Awards; three Wayte and Olga Raymond Literary Awards; Numismatist of the Year Award 2009, and ANA Lifetime Achievement Award 2020. Also won the PNG's Robert Friedberg Award for "The Enigmatic Lincoln Cents of 1922," Available now from Whitman or Amazon.
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    RWBRWB Posts: 8,082 ✭
    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.
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    OPAOPA Posts: 17,162 ✭✭✭✭✭


    << <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.
    "Bongo drive 1984 Lincoln that looks like old coin dug from ground."
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    PerryHallPerryHall Posts: 47,582 ✭✭✭✭✭
    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.

    Worry is the interest you pay on a debt you may not owe.
    "Paper money eventually returns to its intrinsic value---zero."----Voltaire
    "Everything you say should be true, but not everything true should be said."----Voltaire

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