2009 Bank Failures

WSJ had a great article in yesterdays issue page C-1. FDIC is between a rock and a hard place, nobody wants the banks they need to tear down even if the FDIC assumes the bad paper.

How pitifully is that? The FDIC can't give these banks away!

The other good banks are investing their money into something more stable, like the medical field. LOL Hello health care reform.
 
Agreed.

By the way- no bank failures this past Friday, and the FDIC website has nothing today. Must be the FDIC is simply out of bucks. Or nobody home last week. Lord knows the banks aren't any healthier than the week before....

I'll take it.
 
James, considering FDIC is broker'n broke, only way I see bank takeovers, is if FDIC has managed to line up other banks to do the takeovering. The candidates to do the takeovering are getting fewer and farther between with each takeover. Which is why I think we've mostly seen small banks taken over in recent months and limited or no takeovers some Fridays.
 
Well, it's FRIDAY again.

FAILURE Friday-

What are your bets on the number of banks seized by FDIC today?

I'm thinking it will only be 3, because of the shortened holiday week. I think we'll get some tonight, but maybe not a lot- due to Thanksgiving.

Nothing yet on the FDIC web page. We'll have to wait and see....
 
More coming out this morning ---Maybe this is why they are slowing down on the bank closings- maybe it has to do with not being able to close them faster....


The FDIC Is $8.2 Billion in the Hole

Posted Nov 24, 2009 12:26pm EST
by John Carney, The Business Insider

The FDIC fund that insures bank deposits is $8.2 billion in the hole.

The Federal Deposit Insurance Corp. released its latest set of grim banking data moments ago. The FDIC had to set aside $21.7 billion for expected losses on future bank failures as the total number of "problem" banks rose to 552 from 416.

There were glimmers of hope. While bad loans continue to beat up bank balance sheets, revenues are returning to the banking sector. Overall, the banking sector was profitable after a $4.3 billion loss in the second quarter and saw just $879 million in earnings last year.

More: http://finance.yahoo.com/techticker/article/378730/The-FDIC-Is-$8.2-Billion-in-the-Hole
 
Another one of the guys that was there when I got hired retires tonight at midnight. He's younger than me too. He said the same thing about getting out of bed come Monday.

Nothing personal but at this moment, I hate both him and you for that fact alone. Think of me at 0430 MST monday.

I apologize for the thread hijack.

PO
 
A guy at work a few years ago took all his leave before he retired cause he said earning leave while on leave made more money in the end. He worked it all out with HR.
 
YEAH, I have 197.5 hours Use or Lose, but won't be taking but 10 hours during the rest of the year. That will give me 427.5 to cash in for retirement!!! MAD MONEY!!!:D
 
Either that, or they were all on vacation last week. That "use or lose" time is approaching ya know, and not many have been able to take time off earlier this year, with everything falling apart.....

Thanks for posting FAILURE FRIDAY data this week. Only one. Not bad. I bet even with the holiday next week, we still get hit with a few. We'll see.
 
Just one this week.

Commerce Bank of Southwest Florida, Fort Myers, FL with approximately $79.7 million in assets and approximately $76.7 million in deposits was closed. Central Bank, Stillwater, MN has agreed to assume all deposits, excluding certain brokered deposits. (PR-211-2009)
 
....
If it’s the money that “you” who oppose a federal health care bill is worried about, then may I suggest?
Legalize marijuana, we spend A few hundred billion easy trying to stop people from smoking pot ,Please get real!...

Where can I vote for that "public option?" :D
 
In order to cover the children...the State Childrens Healath Insurance Program (SCHIPS) program was established to provide medical coverage for children whose families did/do not qualify for Medicaid. The income limits could be higher therefore covering more families....during GWB the income limits were raised, the numbers of children served were increased. I know of this cause I worked there, giving more money to the States....it was amazing....! So where are the kids not being covered. If it's for illegal children...they are covered under Medicaid by law, for emergency medical needs. Don't college kids have coverage if they so choose thru the Univerisity....I had coverage but didn't use/need it. Most college kids don't care about it and will not pay for it, unless they have a known medical illness. Some may even be covered thru their parents/dependents medical insurance. We should be covering only those....who are not currently covered that choose to be covered....not reinventing the wheel to include everyone in the plan. But that is the clincher....what is the purpose of the big OBama health care plan....that's the real question....more govt control....more socialism. Yes, the medical insurance system should be improved....across state insurance etc. Anyway that's my take on the subject.
 
Well said. It's about time we provided healthcare to those who really need it. Almost everyone here has taken advantage of government run healthcare. Let's make access to healthcare our goal, particularly as it will help our overall economic health.

"Just another socialist smart-a$$, know it all (you can insert the hyphens here feeeeeel0 who likes to show people up with such small things.
__________________
The public option is nothing more than a foothold to the liberals' ultimate goal of government provided and run healthcare. ~ Viva La Migra "


U.S. 307,942,725 population
Population already on medicare 43,026,300 to 48,000,000
About 100 million people — 1 in 3 — now have government coverage through Medicaid, Medicare, the military and federal employee health plans. What is all the health fuss about, we already have a socialized health care system. This bill will now provide coverage for college students, children the indignant and the working poor.
If it’s the money that “you” who oppose a federal health care bill is worried about, then may I suggest?
Legalize marijuana, we spend A few hundred billion easy trying to stop people from smoking pot ,Please get real! This isn’t the 50S, that alone will pay for the health care bill plus you will then have money left over to secure our boarders. Once you clear out the prison population of the pot smokers and sellers you can put the CHILD Molesters in. You might also consider getting the (F) Out of Afghanistan and Iraq, there we can save a few more Billion as we won’t have to pay out for PTSD treatment and prosthetic devices to mend our wounded soldiers. With the money we save there, we can fix our failing education system. We can then tackle NASA and put that money to better use by becoming less dependant on foreign oil by developing solar, that alone will put carpenters plumbers and electricians back to work and put a dent in the billions we are now sending to Saudi Arabia. Pot doesn’t kill people drug lords and gangs do. Another option is to ban the sale of alcohol; we can pay for universal health care just by banning the sale of alcohol as America spends more money on treating alcohol related diseases the universal health care would cost.
A consensus has emerged to provide medical care for the poor, especially children. President Bush when in office even proposed spending $1 billion over two years to encourage eligible families to sign up for Medicaid.
Time and energy would be better spent by putting white collar criminals in jail instead of opposing universal health care. Aetna and BCBS executives love your efforts,.
Please forgive any typos
 
"Just another socialist smart-a$$, know it all (you can insert the hyphens here feeeeeel0 who likes to show people up with such small things.
__________________
The public option is nothing more than a foothold to the liberals' ultimate goal of government provided and run healthcare. ~ Viva La Migra "


U.S. 307,942,725 population
Population already on medicare 43,026,300 to 48,000,000
About 100 million people — 1 in 3 — now have government coverage through Medicaid, Medicare, the military and federal employee health plans. What is all the health fuss about, we already have a socialized health care system. This bill will now provide coverage for college students, children the indignant and the working poor.
If it’s the money that “you” who oppose a federal health care bill is worried about, then may I suggest?
Legalize marijuana, we spend A few hundred billion easy trying to stop people from smoking pot ,Please get real! This isn’t the 50S, that alone will pay for the health care bill plus you will then have money left over to secure our boarders. Once you clear out the prison population of the pot smokers and sellers you can put the CHILD Molesters in. You might also consider getting the (F) Out of Afghanistan and Iraq, there we can save a few more Billion as we won’t have to pay out for PTSD treatment and prosthetic devices to mend our wounded soldiers. With the money we save there, we can fix our failing education system. We can then tackle NASA and put that money to better use by becoming less dependant on foreign oil by developing solar, that alone will put carpenters plumbers and electricians back to work and put a dent in the billions we are now sending to Saudi Arabia. Pot doesn’t kill people drug lords and gangs do. Another option is to ban the sale of alcohol; we can pay for universal health care just by banning the sale of alcohol as America spends more money on treating alcohol related diseases the universal health care would cost.
A consensus has emerged to provide medical care for the poor, especially children. President Bush when in office even proposed spending $1 billion over two years to encourage eligible families to sign up for Medicaid.
Time and energy would be better spent by putting white collar criminals in jail instead of opposing universal health care. Aetna and BCBS executives love your efforts,.
Please forgive any typos
 
I see. Well, I'll just let your own words speak for you, without my suggested spelling corrections. Useful idiot? Well, your post says it all. :laugh:

Childish and churlish? Yes, I can see that. As I've said, I certainly missed your commentary.


Simple minded is the term that I've always thought of, but I do love "useful idiot" better. The token american the communists and dictators run out before the camera's to bad mouth America. :laugh:
 
Well. I missed your commentary before. Glad you're back.

American should be capitalized.
cameras, not camera's
bad-mouth has a hyphen as does simple-minded.

Your posts are like a box of chocolates. I never know what I'm going to get.

And Grammar smak shows how churlish and childish you really are. Really stooping low there. :D Well at least you got the point this time. Ya'll always seem to avoid it. Just another socialist smart-a$$, know it all (you can insert the hyphens here feeeeeel0 who likes to show people up with such small things.
 
Well. I missed your commentary before. Glad you're back.

American should be capitalized.
cameras, not camera's
bad-mouth has a hyphen as does simple-minded.

Your posts are like a box of chocolates. I never know what I'm going to get.


Simple minded is the term that I've always thought of, but I do love "useful idiot" better. The token american the communists and dictators run out before the camera's to bad mouth America. :laugh:
 
Well thanks. I guess this is the same as your previous post on Zelaya.

Well, rather to be a useful idiot than a useless one. And that's what has happened in this whole GWOT enterprise. Useless, dangerous, costly and ultimately bad for our country and the rest of the world.

I probably just confused you with the rest of the government-subsidized anti-administration people that inhabit this space. The same ones who probably have to justify their existence.

Conspiracy theories about Iraq? Wow. That's pretty heavy. Maybe we should have spent a couple of million dollars on checking out Iraq before we invaded. It could've saved us maybe 700 BILLION taxpayer dollars that we've shoved out the door into a giant hole. Worse, it's been counterproductive.
Then again, maybe someone should have just listened to dissent at the time.

OBGibby, invading random countries around the world is just plain wrong. Justifying it is even worse. Just read the quote from Rumsfeld, and the world becomes much clearer.


Please advise where I've equated President Obama with tyranny. You seem to have a persistent problem mischaracterizing my posts and the posts of others. Of course, why would I expect anything less from somebody who lauds communist Cuba and China. I'll leave you to your conspiracy theories about the previous administration and Iraq. You truly are a "useful idiot." Lenin, Stalin and Mao would be proud.
 
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