Banks

October 6, 2008

U.S. bank failures almost certain to increase in next year

SAN FRANCISCO, California (AP) — Here’s a safe bet for uncertain times: A lot of banks won’t survive the next year of upheaval despite the U.S. government’s $700 billion rescue plan to restore order to the financial industry.
The biggest questions are how many will perish and how they will be put out of their misery, whether it’s outright closures by regulators scrambling to preserve the dwindling deposit insurance fund or in fire sales made under government pressure.

September 6, 2008

Nevada bank fails and is shut down

Well, it would seem that yet another bank has failed, the 11th this year. This one is The Silver State Bank in Nevada. It had $2 billion in assets and $1.7 billion in deposits as of June 30, 2008. More…

August 14, 2008

FDIC Fund Strained by Bank Failures May Lift Premiums (Update2)

By Alison Vekshin
Aug. 11 (Bloomberg) — The failure of IndyMac Bancorp Inc. and seven other banks this year may erase as much as 17 percent of a government insurance fund and raise premiums for all banks, from Franklin National of Minneapolis to Bank of America Corp.

Is the White House pushing bank failures onto the next administration’s plate?

The Washington Post reports that the number of bank failures has been surprisingly low. But the crunch count is likely to grow as the problem bank list triples from 90 to 300 over the next three years. Meanwhile, the Federal Deposit..

August 8, 2008:

Florida bank closed by financial regulators

FDIC is named receiver of First Priority Bank, making it the eighth bank failure of the year. Branches will reopen as Sun Trust Bank.

By Ben Rooney, CNNMoney.com
staff writer
Last Updated: August 4, 2008: 12:50 PM EDT

NEW YORK (CNNMoney.com) — State regulators closed Florida’s First Priority Bank on Friday, marking the eighth bank failure of the year.
The Federal Deposit Insurance Corp., which was named the receiver of the failed bank by Florida state officials, entered into an agreement with Atlanta-based SunTrust Bank (STI, Fortune 500) to assume the insured deposits of First Priority.

August 5, 2008:

Greenspan warns of more bank bail-outs

By Krishna Guha in Washington

Well, the former big boy of the Federal Reserve put in his two bucks ( due to inflation you can no longer say two cents ). He is voicing his warning about more bank bail-outs.

Published: August 4 2008 19:29 | Last updated: August 4 2008 19:29
More banks and financial institutions could end up being bailed out by governments before the credit crisis is over, Alan Greenspan, the former chairman of the Federal Reserve, warns in an article in Tuesday’s Financial Times.
When you finish reading that article go check out his own words below:

Repel the calls to contain competitive markets

By Alan Greenspan

August 4, 2008:

For information about FDIC Insurance you can go here.