Archive for bank failures
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It’s a Sink or Swim Weekend for Banks, Some Fail
With so much focus on Citigroup’s meltdown, three other smaller community banks have been taken over as Friday night came to a close.
Regulators stepped in and closed three banks on Friday, two in California and another one in Georgia.
Three more banks - two in California and one in Georgia - failed Friday, bringing to 22 [...]
350 Bank Failures Per Year: 1986-1991
Perhaps, Kenneth Lewis, CEO of Bank of America was trying to make our current situation of 10 commercial bank failures this year seem minute in comparison to the reported 350 bank failures per year from 1986 through 1991. This came from a speech he gave on Friday, as shown on CSPAN.
However, as I watched [...]
The Sixth and Seventh Bank Failures This Year!
For all the reassurances we have received over the past few weeks perhaps we need to take a closer look at where we keep our money, or at least how we keep our money.
Yesterday, Friday, the Office of the Comptroller closed the First National Bank of Nevada and the First Heritage Bank NA of California. I [...]
