BANK BUST FRIDAY !!!

[marmar]

Bank Closing Information - July 16, 2010


Mainstreet Savings Bank, Hastings, MI
Olde Cypress Community Bank, Clewiston, FL
Turnberry Bank, Aventura, FL
Metro Bank of Dade County, Miami, FL
First National Bank of the South, Spartanburg, SC
Woodlands Bank, Bluffton, SC


www.fdic.gov

[mikelgb]

1. way down south in dixie

[Arctic Dave]

2. Whats the running total Marmar?

[marmar]

3. 97 or 98 for the year, I believe......

nt

[xchrom]

4. Fewer banks means greater risk for catastrophe.

Maybe 'too small to fail' should become a standard.

[marmar]

5. 'Too Small to Fail' should become a mantra......

The rallying cry for the local economies to come.

[truedelphi]

8. What are you - somekinda Crazy for Socialism Type?

If so, may I extend to you a friendly :toast:

[xchrom]

10. I agree. Though I fear it's too esoteric for most

People to get until it's too late.

Which may already be the case.

[Canuckistanian]

6. Anybody keeping score?

And how many banks are left?

[NC_Nurse]

7. Man, GA is going to lose number one if FL keeps it up. We were WAY out front

in belly-up banks for a while there.

[RubyDuby in GA]

9. Well that can't be right. There's no bank from GA on there.

I demand a recount!

[truedelphi]

11. Under this Administration, the FDIC rule writers have seen to it that all banks now must pay for

Their FDIC insurance many months, if not years in advance.

For a small struggling community bank, this can be the kiss of death, as it means their money is not able to be loaned out but must instead go off to FDIC heaven. So people buying homes or cars or equipment go off to become customers at other financial institutions.

then when it goes belly up, should a larger bank (one of the too big to fail crowd, more than likely) comes along and buys it, that new owner gets the credits for the pre-paid FDIC insurance.

Bernanke/Geithner(Paulson) & Their Too Big To Fail policies - there has gotta be a special place in hell for these people.

[glitch]

12. Sounds like the deliberate sacking of Main Street. nt