FDIC Chairwoman Bair Too big to fail has become worse. Its become explicit when it was implicit before.
Treasury Sec. Geithner Most consequential choices involve shades of gray, and some fog is often useful in getting things done.
According to an AP story, regulators shut down two banks in Florida and one in California on Friday, boosting to 123 the number of U.S. bank failures this year as loan defaults rise in the worst financial climate in decades. The Federal Deposit Insurance Corp. took over Orion Bank, based in Naples, Fla., with about [...]
According to an October 27, 2009 article on HeraldNet.com, with the number of bank closings above 100 this year for the first time since 1992, the head of the Federal Deposit Insurance Corp. says she’s frustrated at perceptions that U.S. taxpayers must pay for the costs of those failures. “We have not borrowed a penny [...]
According to an October 24, 2009 article in the Daily Finance, it’s a big number that only tells part of the story. The number of banks that have failed so far this year topped 100 on Friday — hitting 106 by the end of the day — the most in nearly two decades. But the [...]
Based an October 23, 2009 story by Karl Denniger on istockanlayst.com, yet another bank with more than 40% loss taken by the FDIC. As of September 30, 2009, Partners Bank had total assets of $65.5 million. The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $28.6 million. Again, we see [...]
WASHINGTON — According to an October 23, 2009 article by Daniel Wagner in the San Francisco Examiner, the cascade of bank failures this year surpassed 100 on Friday, the most in nearly two decades. And the trouble in the banking system from bad loans and the recession goes even deeper than the number suggests. Dozens, [...]
Fri Aug 28, 2009 9:49pm EDT According to an August 28, 2009 story in Reuters , three more U.S. banks failed on Friday, bringing the total to 84 so far this year, as the industry continues to grapple with deteriorating loans on their books. Regulators shuttered Affinity Bank of Ventura, California, Bradford Bank in Baltimore, [...]
According to an August 24, 2009 story on BNet Daniel Harrison says that in the past week, two prominent analysts have said they expect hundreds more small bank failures in the second half of this year. At the same time, the Financial Select Sector SPDR ETF, a fund that tracks top U.S. banking institutions, has risen [...]
According to an August 21, 2009 story in Fortune a big Spanish bank bought the remains of failed Texas thrift Guaranty. But most overseas giants have their own problems. Foreign banks are starting to nibble at America’s failed-bank buffet. But don’t expect them to clean it out. Spain’s Banco Bilbao Vizcaya Argentaria (BBV) has emerged [...]
According to an August 18, 2009 story in Fortune Seeking to lure more buyers at a time of intense distress, the FDIC has dusted off the oft-touted, but rarely used, plan of setting up bad banks. Will it work this time? Facing mounting bank failures, regulators are putting a new twist on a familiar idea: [...]
According to an August 14, 2009 story on BNet Alain sherter at Bloomberg says 150 publicly held U.S. banks are in danger of going under, weighed down by rising commercial real estate and credit card losses. The number of banks with at least 5 percent of their loans rated as nonperforming, a dangerously high level, has [...]
