Page 1 of 2 12 LastLast
Results 1 to 10 of 11

Thread: Bank failure is 83rd in '10; pace more than double last year's

  1. #1
    Guru

    Join Date
    Jun 2006
    Last Seen
    05-13-11 @ 09:01 PM
    Gender
    Lean
    Independent
    Posts
    4,075
    Blog Entries
    3

    Bank failure is 83rd in '10; pace more than double last year's

    Link
    Bank failure is 83rd in '10; pace more than double last year's - USATODAY.com

    Quote(Regulators on Friday shut down a Nevada bank, raising to 83 the number of U.S. bank failures this year.

    The 83 closures so far this year is more than double the pace set in all of 2009, which was itself a brisk year for shutdowns. By this time last year, regulators had closed 40 banks. The pace has accelerated as banks' losses mount on loans made for commercial property and development.

    The Federal Deposit Insurance Corp. took over Nevada Security Bank, based in Reno, with $480.3 million in assets and $479.8 million in deposits. Umpqua Bank, based in Roseburg, Ore., agreed to assume the assets and deposits of the failed bank.)

    Tut tut Harry Reid is evidently of no help with banking system failures in Nevada.

    Did I not read about something that referred to Obama saving the banks? Oh well must have misunderstood.
    This article says that in all probability the number of Banks that will fail this year will exceed those that fell last year.
    The FDIC believes that the total cost of rescuing Banks over 4 years will be of the order of $100 Million.

  2. #2
    Outer space potato man

    Join Date
    Feb 2010
    Last Seen
    Yesterday @ 08:17 PM
    Gender
    Lean
    Undisclosed
    Posts
    51,785

    Re: Bank failure is 83rd in '10; pace more than double last year's

    You have a strange idea of what a Senator's job description entails.
    He touched her over her bra and underpants, she says, and guided her hand to touch him over his underwear
    Quote Originally Posted by Lutherf View Post
    We’ll say what? Something like “nothing happened” ... Yeah, we might say something like that.

  3. #3
    Sage
    Lord Tammerlain's Avatar
    Join Date
    Jan 2010
    Last Seen
    Yesterday @ 10:48 PM
    Lean
    Undisclosed
    Posts
    10,432

    Re: Bank failure is 83rd in '10; pace more than double last year's

    Quote Originally Posted by jujuman13 View Post
    Link
    Bank failure is 83rd in '10; pace more than double last year's - USATODAY.com

    Quote(Regulators on Friday shut down a Nevada bank, raising to 83 the number of U.S. bank failures this year.

    The 83 closures so far this year is more than double the pace set in all of 2009, which was itself a brisk year for shutdowns. By this time last year, regulators had closed 40 banks. The pace has accelerated as banks' losses mount on loans made for commercial property and development.

    The Federal Deposit Insurance Corp. took over Nevada Security Bank, based in Reno, with $480.3 million in assets and $479.8 million in deposits. Umpqua Bank, based in Roseburg, Ore., agreed to assume the assets and deposits of the failed bank.)

    Tut tut Harry Reid is evidently of no help with banking system failures in Nevada.

    Did I not read about something that referred to Obama saving the banks? Oh well must have misunderstood.
    This article says that in all probability the number of Banks that will fail this year will exceed those that fell last year.
    The FDIC believes that the total cost of rescuing Banks over 4 years will be of the order of $100 Million.

    Just to be clear are you for or against bank bailouts?

    Has Obama not saved enough or has he saved to many? Did Bush save to many or to few?
    Happy Hanukkah Cheerfull Kwanzaa
    Happy Christmas Merry New Year Festivus for the rest of us

  4. #4
    Sage
    apdst's Avatar
    Join Date
    Jun 2009
    Location
    Bagdad, La.
    Last Seen
    Today @ 01:05 AM
    Gender
    Lean
    Very Conservative
    Posts
    76,444

    Re: Bank failure is 83rd in '10; pace more than double last year's

    Quote Originally Posted by Lord Tammerlain View Post
    Just to be clear are you for or against bank bailouts?

    Has Obama not saved enough or has he saved to many? Did Bush save to many or to few?
    83 banks have failed in the first two quarters of 2010. Don't look like Obama's doing a very good job of saving the banks.

    This must be all that recovery we've been hearing about.
    Quote Originally Posted by Top Cat View Post
    At least Bill saved his transgressions for grown women. Not suggesting what he did was OK. But he didn't chase 14 year olds.

  5. #5
    Sage
    Lord Tammerlain's Avatar
    Join Date
    Jan 2010
    Last Seen
    Yesterday @ 10:48 PM
    Lean
    Undisclosed
    Posts
    10,432

    Re: Bank failure is 83rd in '10; pace more than double last year's

    Quote Originally Posted by apdst View Post
    83 banks have failed in the first two quarters of 2010. Don't look like Obama's doing a very good job of saving the banks.

    This must be all that recovery we've been hearing about.
    So you want him to save more of them?

    Basically the banks that are failing are the small more local banks, the big banks were saved under the Bush Admin, whose policies were continued under the Obama admin.

    The small banks are being allowed to fail as the economic impact is not as large as it would be if Citi failed. Which is why AIG was bailed out to provide back door bailouts to Goldman and other large institutions
    Happy Hanukkah Cheerfull Kwanzaa
    Happy Christmas Merry New Year Festivus for the rest of us

  6. #6
    Sage
    apdst's Avatar
    Join Date
    Jun 2009
    Location
    Bagdad, La.
    Last Seen
    Today @ 01:05 AM
    Gender
    Lean
    Very Conservative
    Posts
    76,444

    Re: Bank failure is 83rd in '10; pace more than double last year's

    Quote Originally Posted by Lord Tammerlain View Post
    So you want him to save more of them?

    Basically the banks that are failing are the small more local banks, the big banks were saved under the Bush Admin, whose policies were continued under the Obama admin.

    The small banks are being allowed to fail as the economic impact is not as large as it would be if Citi failed. Which is why AIG was bailed out to provide back door bailouts to Goldman and other large institutions
    No, I don't expect him to save any of them. Recouping the economy isn't his objective. Helping small businesses isn't his objective. He wants all the major industries controlled by a few large corporations that are privately owned and government run. It's classic facism.

    Expect anything from Obama? Hell no!
    Quote Originally Posted by Top Cat View Post
    At least Bill saved his transgressions for grown women. Not suggesting what he did was OK. But he didn't chase 14 year olds.

  7. #7
    Slayer of the DP Newsbot
    danarhea's Avatar
    Join Date
    Aug 2005
    Location
    Houston, TX
    Last Seen
    Today @ 12:27 AM
    Gender
    Lean
    Conservative
    Posts
    39,746

    Re: Bank failure is 83rd in '10; pace more than double last year's

    I wouldn't worry about this at all. Just keep your money in your mattress.
    The ghost of Jack Kevorkian for President's Physician: 2016

  8. #8
    Banned
    Join Date
    Oct 2008
    Last Seen
    01-03-16 @ 02:05 PM
    Gender
    Lean
    Undisclosed
    Posts
    12,761

    Re: Bank failure is 83rd in '10; pace more than double last year's

    Quote Originally Posted by Lord Tammerlain View Post
    So you want him to save more of them?
    No, it doesn't matter to save more or less of them... but it would be better to save the RIGHT ones.

    Basically the banks that are failing are the small more local banks, the big banks were saved under the Bush Admin, whose policies were continued under the Obama admin.
    Yes, they are saving those 'too big to fail', and everyone else is 'too small to save'. The worst part about this is that those local banks that are being allowed to fail are the ones that are actually relatively healthy banks... the monster 'zombie banks' (as I've heard a few economists call them), that are more or less houses of toxic assets, assets that exist only on paper and aren't worth the money they are not printed on.

    You are right though that this is a continuation of policies... and essentially proof in itself that the presidency is more like a 'relay' where they just pass the baton, and not really competing factions fighting for the best interests of the people they represent.

    The small banks are being allowed to fail as the economic impact is not as large as it would be if Citi failed. Which is why AIG was bailed out to provide back door bailouts to Goldman and other large institutions
    At taxpayer expense... you forgot about that... you also neglected that american taxpayers are bailing out foreign financial institutions as well...

    Remember : If we can agree that these banks were really 'too big to fail', then you must also agree that everyone else is 'too small to save'??

  9. #9
    Banned
    Join Date
    Oct 2008
    Last Seen
    01-03-16 @ 02:05 PM
    Gender
    Lean
    Undisclosed
    Posts
    12,761

    Re: Bank failure is 83rd in '10; pace more than double last year's

    Quote Originally Posted by danarhea View Post
    I wouldn't worry about this at all. Just keep your money in your mattress.
    No, money would be useless if the system crashes... what you would need are items of barter, hard currency; gold, silver, bronze, copper, etc, you would also need food and water / water filters, and when it's shown that we are actually in a depression, when people lose everything, they lose it... so you'll also want something to defend your supplies; gun, sword, knife, bow& arrow (cause it's easier to replace ammo) and proficiency in using them.

  10. #10
    Sage

    Join Date
    Sep 2007
    Last Seen
    09-24-17 @ 04:38 AM
    Lean
    Undisclosed
    Posts
    29,261

    Re: Bank failure is 83rd in '10; pace more than double last year's

    I thought about robbing banks as a second career but heck none of them have any money any more.

Page 1 of 2 12 LastLast

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •