Failed Bank List

[cmoore]

http://www.fdic.gov/bank/individual/failed/banklist.html

So far only 5 banks on the list this year. How many more will follow???

[skate]

Moore thanks;


I think the late 70s brought on over 900 bank failures.
Let us see what happens.

[chickenhead]

I'm pretty sure all of them are going under. I've been trying to figure out who it would be good for to have a whole slew of regionals go under...I'm stumped tho.

[skate]

Let's ask Jimma, howd he do it, i recall Manufactures Hanover back then went from 12% to 28% percent, got absorbed/confused, then drew back.

All in 1 month.

[ddog]

lawyers,cpa and private security force should be the plays.

:lol:

[chickenhead]

we can live without banks anyway...the cash grass or ass standard never really got its fair shake. The economy might be sluggish...but who would really care.

[PaceAdvantage]

http://www.fdic.gov/bank/individual/failed/banklist.html

So far only 5 banks on the list this year. How many more will follow???From 1988-1989, over 1000 banks failed, at a rate of more than 2 every business day.

Three banks failed in 2007. Four banks have failed thus far through 6.5 months of 2008 (IndyMac was a biggie, no doubt), and right now, things are supposed to be super bad, recession/depression going on....

One has to wonder exactly which side is going to win out in this debate....are things really as bad as they are made out to be?

[lamboguy]

my question is how much were the total assets of these 1000 banks that failed in total?

combined did they have as much as say a citibank, or a fanny mae or freddy?

maybe that is a poor question, because back then there were also regional banks that failed. i remember bank of new england and shawmut bank which were pretty big.

back then i bought a thousand shares of both bank on new england and first national bank of boston. they were both selling for $2.00 a share. bank of new england got closed up on a friday afternoon, and first national wound up selling for $100 a share 2 years later.

another question i have is, how are these banks going bad now to begin with?
i thought they were either the middle men or service provider for all these stupid loans. and all they did was trap the customer into the loan and then sell the risk to others at an up front profit and maybe a little residual on the backend if the loan worked out good.

[sammy the sage]

""my question is how much were the total assets of these 1000 banks that failed in total?

combined did they have as much as say a citibank, or a fanny mae or freddy?""

I think a very good/fair question?

P.A. is the #'s guy...perhap's he will give us a "good" #!

[riskman]

Ignore the happy-face assessments of the geopolitical strategists. Ignore the happy-face assessment of the Secretary of the Treasury, Henry "Goldman Sachs" Paulson. These assessments are being issued to keep panic from spreading.What they are doing is referred to as squaring the circle. Or putting round pegs in square holes. It is the Goldilocks goal: getting things just right. Who will achieve this? The same regulatory agencies that oversaw the bubble and did nothing to stop it; indeed, which funded it. No one has been fired for incompetence. The same equally alert government planners are still in charge, still doing their job in the name of The People. :bang:

[classhandicapper]

From 1988-1989, over 1000 banks failed, at a rate of more than 2 every business day.

Three banks failed in 2007. Four banks have failed thus far through 6.5 months of 2008 (IndyMac was a biggie, no doubt), and right now, things are supposed to be super bad, recession/depression going on....

One has to wonder exactly which side is going to win out in this debate....are things really as bad as they are made out to be?

Things are really bad, but when the Fed uses the full force of it's power to monetize the the obligations of government and rape and pillage the common man via the back door of inflation to bail out Wall St. etc... it can paper over a lot problems in the short term. In the end though, our currency will be worth less than the toilet paper you wipe your ass with. That's one reason gold, oil etc... have been so strong and the dollar so weak over the last few years. The smartest people understood we had a huge credit bubble and that the Fed was going to try to print it's way out of the bust like it always has since Greenspan/Bernanke regime took over.

[skate]

Welp, our M2 is up 70% in the last 7 years.

Should be a clue. It's never gone up that much, never in the history of the USA.

[cmoore]

Two more banks failed...Many more to come...


http://www.iht.com/articles/2008/07/26/business/26banks.php

[cmoore]

http://www.fdic.gov/bank/individual/failed/banklist.html

So far only 5 banks on the list this year. How many more will follow???

The count is now :7:..

[lamboguy]

there probably will be alot more. but my guess is that the ones that go down will be of the smaller variety.

i think the bush game plan is to let the small ones go, and try to make the big ones more solvent.

only thing is , bush is like a bad horse trainer, he'll bust you every single time, like a trainer that leaves blinkers on a horse that don't need them. all the horse does is go to the lead and die in the stretch.

someone ought to tell george to take his blinkers off!

it might help

[PaceAdvantage]

:12: banks failed in 2002, and not one person posted about it here in off-topic....

Weird, isn't it?

In 2005 and 2006, ZERO banks failed (and BUSH was still President), and nobody praised President Bush for ZERO bank failures over a two year period (2005 and 2006 are the only two years since 1934 when NO US banks failed).

Where was the love for Bush in 2005 and 2006?

[Tom]

My bank called Friday - they want the toaster back. :eek:

[cmoore]

:12: banks failed in 2002, and not one person posted about it here in off-topic....

Weird, isn't it?

In 2005 and 2006, ZERO banks failed (and BUSH was still President), and nobody praised President Bush for ZERO bank failures over a two year period (2005 and 2006 are the only two years since 1934 when NO US banks failed).

Where was the love for Bush in 2005 and 2006?

Cmon Pace, you can't be serious.. It's called the mortgage boom. They were handing out loans like candy. Why would a bank fail when they are collecting 3 to 10 thousand on every loan closed. Appraisals were inflated, incomes weren't verified, interest only teaser loans were handed out when the loan officer knew many of these loans were doomed. Every booms bubble bursts eventually. Say that 5 times fast. LOL!!! Roaring twenties- then the depression. Dot com era- Fizzled...Mortgage Boom- Declining. Prices have gone down 13-30% nation wide. Places like Arizona, Nevada, California and Florida. More declines in values likely.

[Tom]

And don't forget tremendous pressure was put on many lenders to make sure loans were given out to people who did not qualify...a direct results of pressure by "The Reveran-da Jack-son" and his Rainbow deal.
Refusing a loan was often met with the Spainish Inquiusition from dems.
Not the only cause, but certainly a large contributor.

Since when is checking a person's income as part a loan not 100% routine?????

[boxcar]

And don't forget tremendous pressure was put on many lenders to make sure loans were given out to people who did not qualify...a direct results of pressure by "The Reveran-da Jack-son" and his Rainbow deal.
Refusing a loan was often met with the Spainish Inquiusition from dems.
Not the only cause, but certainly a large contributor.

Since when is checking a person's income as part a loan not 100% routine?????


Shh, Tom. Not so loudly. We don't want to wake the Libs up from their self-induced slumber. They'd rather sleep through this inconvenient truth.

And if I recall, I believe congress passed legislation that practically required banks to make these loans -- because after all...all Americans are entitled to a piece of the American dream. All of us have some kind of God-given right to home ownership, regardless if we can afford it or not. So, in essence, Big Gov granted consumers licenses to act stupidly and to lenders licenses to prey upon consumers. A match made in hell.

Boxcar

[Tom]

This is a small taste of what we can expect from a dem government. Beware.

[ezpace]

From 1988-1989, over 1000 banks failed, at a rate of more than 2 every business day.

Three banks failed in 2007. Four banks have failed thus far through 6.5 months of 2008 (IndyMac was a biggie, no doubt), and right now, things are supposed to be super bad, recession/depression going on....

One has to wonder exactly which side is going to win out in this debate....are things really as bad as they are made out to be?


*************
How about INDYMAC was the largest retail bank and failed and was never on their frickin LIST. corrupt they are..

[robert99]

Well some of your pay-day loan sharks have now escaped over here where there is even less "financial" regulation. If they can't make a profit at 2000% interest rate loans or $250 interest for every $300 earned, then no one can. Anyone suckered in is their slave for life.

[Tom]

That is true. Look at credit cards - you fart and they raise your rates!
Whatever happened to ursery?

While I advocate personal responsiblilty, the CC companies are nothing but vultures preying on people trying to get by. They are far better prepared to know the effects of their blatant greed than Joe Six Pack.

The whole banking industry is revolting!

[lamboguy]

george bushis nothign but a democrat disguised as a republican. he has not vetoed a bill that increases spending, he has helped depreciate the currency that people work hard for their whole lives so don't have to worry when they get old. he has not led us to a good energy policy,he has bailed out every crappy financial institution that he could get away with. he hasn't really bailed them out, you did, because you will wind up paying more for food gasoline and anything else you might dream of spending your money on. this man will bust you every time, he is the same as a bad horse trainer, he is a real bad dream.

you can blame congress, your uncle, your uncles cousin or god, but this man is our leader and he has done a poor job leading

[skate]

Oh well, oh well


$60 Billion went down during the Saving & Loan faux pas.

Now we have C. Dodd (chairs the mortgage industry) being investigated. The reason given,, his friend gives Doddy the phone number of the late Mozilo (country wide fame) . Doddy calls Mozilo and Mozilo has a $10,700 1 point fee removed from Doddy's Mortgage.
This is from the senate ethics committee. Doddy, the ethics gal from the neolibers, Claims (:bang: ) "he didn't know".:liar:

With the FBI investigating, we might have Fireworks.

[lamboguy]

dodd, just another poll looking out for himself. as much as i dislike bush, he isn't as bad as dodd, and most of the other democrats sitting in the congress conning the public. i like good leaders like regan, pres. kennedy, truman, eisenhower. not bums like we elect now.

we better get some good leaders and real soon. look at history and see why!

[Suff]

.

One has to wonder exactly which side is going to win out in this debate....are things really as bad as they are made out to be?

I now you like to pacify yourself with the romantic "devils advocate" title. But at this point your Mental Health issues are so obvious and your clearly a danger to everyone around you.

Banks have consolidated, and in many cases monopolized, The top ten banks control 72% of America's money. There are no "1000's' of banks left to collapse.

Fannie Mae and Freddie Mac control 90% of the secondary mortgage market, and more than 50% of the primary mortgage market. Basically when they went down last week (bailed out by the Fed) that was the equivalent of 20,000 banks going into the red. . They are insolvent.


Good night and good luck, your a real mind boggle you are.

[ezpace]

#2

HMMMM seems bank McCains son in having problems upside/down

http://globaleconomicanalysis.blogspot.com/2008/07/mccains-son-resigns-from-silver-state.html

a great link ...news ,blogs, sports ,economics...maybe even link for handicappin monkeys ,,i havent' looked yet,,lol,,,,,, click around.. not affiliated in any way


http://globaleconomicanalysis.blogspot.com/2008/07/mccains-son-resigns-from-silver-state.html

[ezpace]

nuther handicapping monkey link .. lol

http://www.newsflashr.com/feeds/business_blogs.html

IF there isn't one here ... here's Leonard he beats Cramer pickin stocks

http://leonardthemonkey.com/index.php?s=ASR&sentence=AND&submit=Search

LOL

[ezpace]

Oh well, oh well


$60 Billion went down during the Saving & Loan faux pas.

Now we have C. Dodd (chairs the mortgage industry) being investigated. The reason given,, his friend gives Doddy the phone number of the late Mozilo (country wide fame) . Doddy calls Mozilo and Mozilo has a $10,700 1 point fee removed from Doddy's Mortgage.
This is from the senate ethics committee. Doddy, the ethics gal from the neolibers, Claims (:bang: ) "he didn't know".:liar:

With the FBI investigating, we might have Fireworks.
**************************
Skate fwiw FBI/IRS tag teamS are shaking down big thieves for XXXLL monthly cash payments instead of taking them to jail.. the all gov are corrupt scumbagz.

[Secretariat]

Shh, Tom. Not so loudly. We don't want to wake the Libs up from their self-induced slumber. They'd rather sleep through this inconvenient truth.

And if I recall, I believe congress passed legislation that practically required banks to make these loans -- because after all...all Americans are entitled to a piece of the American dream. All of us have some kind of God-given right to home ownership, regardless if we can afford it or not. So, in essence, Big Gov granted consumers licenses to act stupidly and to lenders licenses to prey upon consumers. A match made in hell.

Boxcar

Was this the legislation you were referring to as an inconveneient truth?

http://losangeles.injuryboard.com/miscellaneous/the-subprime-mess-and-phil-gramm-an-experiment-in-deregulation.aspx?googleid=242468

The Subprime Mess and Phil Gramm: An Experiment in DeregulationJune 24, 2008 - 04:12 PM

"In 1999, former Senator Phil Gramm (who is, incidentally, Senator John McCain's economic adviser and cochairs his presidential campaign) set out to completely gut the Glass-Steagall Act, and did so successfully, replacing most of its components with the new Gramm-Leach-Bliley Act: allowing commercial banks, investment banks, and insurers to merge (which would have violated antitrust laws under Glass-Steagall). Sen. Gramm was the driving force behind the Gramm-Leach-Bliley Act, as he had received over $4.6 million from the FIRE sector (Finance, Insurance and Real Estate donations) over the previous decade, and once the Act passed, an influx of "megamergers" took place among banks and insurance and securities companies, as if they had been eagerly awaiting the passage of Gramm's Act. Everything in between Glass-Steagall and Gramm-Leach-Bliley (i.e. Savings and Loan crisis/bust) was, in large part, the incubation period for what would take place over the nine years that would follow the passage of Gramm's Act: an experiment in deregulation."

"The legislation contained a provision -- lobbied for by Enron, a major campaign contributor to Gramm -- that exempted energy trading from regulatory oversight. Basically, it gave way to the Enron debacle and ushered in the new era of unregulated securities. Interestingly enough, Gramm's wife, Wendy, had been part of the Enron board, and her salary and stock income brought in between $900,000 and $1.8 million to the Gramm household, prior to the passage of the Commodity Futures Modernization Act.

In 2003, Gramm left the Senate to join UBS, which had acquired investment house PaineWebber due to his deregulation bill. At UBS, Gramm lobbied Congress, the Fed and the Treasury Department. During Gramm's tenor at UBS and as a lobbyist, Congress passed the Responsible Lending Act, billed as an anti-predatory-lending measure, but was called the "Loan Shark Protection Act" by consumer advocates, as it was designed to preempt stronger state laws against anti-predatory lending. The Fed largely ignored the underlying and growing problems within the subprime mortgage/housing markets, as Bernanke famously acknowledged the housing market in April, 2007 as, "[showing] signs of softening," but said that a "sharp slowdown," is unlikely. Then, according to Mother Jones magazine, Henry Paulson became the Treasury Secretary in July, 2007, when, "In 2005, [at] Goldman [he] securitized $68 billion in residential mortgages and $23 billion in 'other assets' primarily related to CDOs," (Mother Jones, August, 2008). With such self-interest, and a lack of the nation's interest, we can see how this subprime mess was allowed to escalate to such great proportions"

[PaceAdvantage]

Cmon Pace, you can't be serious.. It's called the mortgage boom.Excuse me? I'm dead serious. Not one bank failed in 2005 or 2006, the only two years since 1934 that did not see a single bank failure in the US, and not one post on off-topic praising Bush, the President.

You can use your 20/20 hindsight now and claim this and that, but the truth is, now that a couple of banks have failed, it's time to bring out the "Blame Bush" sorry-ass chant, when in fact, nobody was talking about bank failures in 2002, when :12: failed, and nobody was praising Bush in 2005-2006 when ZERO banks failed.

The duplicity is, once again, astounding.

[PaceAdvantage]

I now you like to pacify yourself with the romantic "devils advocate" title. But at this point your Mental Health issues are so obvious and your clearly a danger to everyone around you.

Banks have consolidated, and in many cases monopolized, The top ten banks control 72% of America's money. There are no "1000's' of banks left to collapse.I really wish you'd leave the petty, highly boring, and unbecoming personal attacks out of your posts. How many times have I seriously questioned your mental health no matter how outrageous I find any of your ideas?

What year did this "there are no '1000s' of banks left to collapse" fact become reality?

[cmoore]

Excuse me? I'm dead serious. Not one bank failed in 2005 or 2006, the only two years since 1934 that did not see a single bank failure in the US, and not one post on off-topic praising Bush, the President.

You can use your 20/20 hindsight now and claim this and that, but the truth is, now that a couple of banks have failed, it's time to bring out the "Blame Bush" sorry-ass chant, when in fact, nobody was talking about bank failures in 2002, when :12: failed, and nobody was praising Bush in 2005-2006 when ZERO banks failed.

The duplicity is, once again, astounding.


Freddie and Fannie has never failed before...How do you explain that debacle??

[skate]

F and F , not been around before either:eek:

[wonatthewire1]

F and F , not been around before either:eek:

Date founded

Fannie - 1938

Freddie - 1970

I don't know why people post "fact" without checking anything...

Opinions - well we'll just leave it at that...

:bang:

[skate]

On average, houses were priced about 25% too high, Lately.


So, for houses to drop by 15 to 20% is not too bad, since most people are still better off.


They refer to this as "the Economy". They call it Capitalism.
It involves Freedom, unlike what people have in places such as Cuba. Cuba will attempt "capitalism" and then they too will be allowed to CRY.:eek:

Thank you Phil Gramm

[skate]

OH oh oh, I forgot to ask, How much DEBT does Cuba have?;)


And, hey, i like Cuubba!:kiss:

[wonatthewire1]

On average, houses were priced about 25% too high, Lately.


So, for houses to drop by 15 to 20% is not too bad, since most people are still better off.


They refer to this as "the Economy". They call it Capitalism.
It involves Freedom, unlike what people have in places such as Cuba. Cuba will attempt "capitalism" and then they too will be allowed to CRY.:eek:

Thank you Phil Gramm


Is it really capitalism and a "free market" if the nanny state/fed govt is bailing banks, brokers and homeowners out?

;)

[skate]

Date founded

Fannie - 1938

Freddie - 1970

I don't know why people post "fact" without checking anything...

Opinions - well we'll just leave it at that...

:bang:

Hey hey hey, since this is the first time you gave an answer (incorrect as a mater of fact) does that mean you agree with all my other post,:kiss: .

Yo yo yo, in name only, does fannie still exist. In '68 , alone, they were converted.

Oh, i love the sangulnary additive.;)

They founded America a long long time ago also, but they are not the same, at least that's what the Indian tells the-skate.

[skate]

Is it really capitalism and a "free market" if the nanny state/fed govt is bailing banks, brokers and homeowners out?

;)

Oh, so now, since the Neolibers have been changing to Socialism(for over 40 years), you want to WHAT? blame the other side? Come on now, entitlements, entitlements...
Hey, i'm a big fan of Barry Goldwater, he and the -skate saw this coming for 50 years. Good luck!

And now it's My fault, LOL.

[lamboguy]

you should bet down. when he says down bet up!

he is the best indicator i have ever seen, just go the other way.

at the bottom he said sell financials, they went up, yesterday he said to buy them, they haven't got croaked yet. i suspect they will get croaked. the market went down 200 today and financials held up, i say sell the babies.

GOLD is going to $1200 an ounce by december 31, 2008

[cmoore]

Cramer is a Crook. Don't believe his hype..

[cmoore]

Number :8:....

At the time of closing, there were approximately $13 million in uninsured deposits held in approximately 840 accounts that potentially exceeded the insurance limits. This amount is an estimate that is likely to change once the FDIC obtains additional information from these customers.


http://www.fdic.gov/news/news/press/2008/pr08065.html

[PaceAdvantage]

:4: more, and we'll equal 2002...of course, I'm sure in terms of $$$$ we've far surpassed 2002, but then again, I haven't looked it up, so I can't be 100% sure.

Nevertheless, you would think that with all this drama hanging over our heads, more than eight would have fallen, especially considering the year is more than half over....