Weekly Friday failed bank (debt, borrowing, money, cost)

[HappyTexan]

On the bright side..it's only 1 this week and insured accounts have been transferred to another bank.

Soon enough though the FDIC will be borrowing from the Fed alongside the brokerage firms.

FDIC: Failed Bank List

[mojo_1979]

Originally Posted by HappyTexan

On the bright side..it's only 1 this week and insured accounts have been transferred to another bank.

Soon enough though the FDIC will be borrowing from the Fed alongside the brokerage firms.

FDIC: Failed Bank List

Of course, borrowing implies that the money will actually be paid back. We know that isn't going to happen.

[Nor'Eastah]

You know...I looked all over the place last evening to find out if any banks went under...FDIC site, CNN, Reuters, etc. Nuthin'. I gave up around 8:30 pm. Figured maybe it was a 'clean' weekend. The media is really dragging their heels on this stuff, and the FDIC is getting downright tardy!

Maybe by October they'll stop announcing it altogether. Ya think?

[BankREO]

The media doesn't want to cause any panic. Here is some information on the 11th bank failure of 2008 - Silver State of Nevada with $2 billion in assets.

[HappyTexan]

Here's a link that shows how much each failed bank cost the FDIC:

WSJ.com

[pghquest]

Originally Posted by HappyTexan

On the bright side..it's only 1 this week and insured accounts have been transferred to another bank.

Soon enough though the FDIC will be borrowing from the Fed alongside the brokerage firms.

FDIC: Failed Bank List

Dont worry, I hear Fannie Mae, and Freddie Mac are both going to fail over the weekend and be taken over by the Federal Government.. Washington Times - Fannie Mae, Freddie Mac takeover expected

You think these banks cost the FDIC, wait until you see what the failure of Mae/Mac cost the taxpayers....

[BankREO]

Originally Posted by pghquest

Dont worry, I hear Fannie Mae, and Freddie Mac are both going to fail over the weekend and be taken over by the Federal Government.. Washington Times - Fannie Mae, Freddie Mac takeover expected

You think these banks cost the FDIC, wait until you see what the failure of Mae/Mac cost the taxpayers....

True True, we are heading down a slippery slope of debt monetization.