FDIC

This time it is Silver State Bank of Henderson, NV to go bankrupt. Read the press release below. This one is pretty large with assets of $2 billion and it has ties to Republican Presidential nominee McCain.See my list of Bankrupt global…

Another Friday afternoon massacre claims another failed U.S. bank. This time the bank was in Georgia. Integrity Bank of Alpharetta, GA had $1.1 billion in assets. As is FDIC custom, the announcement wasn't made until after markets had…

In further proof that we're back to the Great Depression again, everyone is talking about unsecured bank deposits. Basically, if you have less than $100K at an FDIC institution, you're good to go. If you have more, you'll need to spread…

I fully anticipate this will happen, so the question becomes: what will the Fed do?The FDIC stepped in at two banks over the weekend, 1st National Bank of Nevada and First Heritage Bank. These banks failed as a result of construction loans…

1st National Bank of Nevada and First Heritage Bank, operating in Nevada, Arizona and California were taken over by the FDIC on Friday. They always wait until Friday night to do their business. This marks the first FDIC closure action…

With IndyMac having gone bust, bank shares tanking, and speculation rampant about who's next, it's time to consider what and how much the FDIC actually insures. This information is available at the FDIC website and I have added a blurb and…

Looking at today's selling wave, a number of bank shares are down over 10% including Washington Mutual (WM), National City (NCC), Wachovia (WB), Zion (ZION). Many other shares are trading well into negative territory with share prices…

Given the fact that the FDIC lost a massive $10.7 billion on the IndyMac transaction, I am re-posting this blurb from July. I said then, I still believe, the FDIC needs a lot more money or it will be bust. Sheila Bair has already requested…

See my list of Bankrupt global financial institutions for past news on IndyMac and other bankrupt financial institutions.This is a very big deal. It seems that the financial crisis has reached fever pitch now. Given the week we just went…