FDIC closes 9 more banks on Friday
Politics, Bailout News, The Economy, Real Estate October 31st, 2009
The financial system collapse continues. AP via Yahoo Finance reports that:
Regulators on Friday shut California National Bank of Los Angeles and eight smaller related banks as the weak economy continues to produce a stream of loan defaults.The banks closed by the Federal Deposit Insurance Corporation were in California, Illinois, Texas and Arizona. They were divisions of privately held FBOP Corp., a bank holding company based in Oak Park., Ill.
This is going to go on for at least a couple of more years.
November 6th, 2009 at 6:53 pm
Hey Bubbs - remember back on Jan 25 when you said:
“Banks might flood the market with foreclosures this Spring”
and then back in May when you said
“We have been telling you this for some time. The next wave of foreclosures is about to hit the housing market in the next few months and it is going to be ugly.”
That was fun wasnt it? Say, whats the MLS inventory looking like these days?
November 6th, 2009 at 7:53 pm
I wonder why the government had to rush to extend the home buyer tax credit if things are as good as you say? Maybe because the housing market was and IS as bad as I said.
November 7th, 2009 at 11:10 am
where did I say the market was “good”?
November 10th, 2009 at 12:18 pm
Not to worry Bubbs - case shiller will likely soon begin its annual seasonal decline - and then you can stop ignoring it and post it again!
November 16th, 2009 at 10:21 pm
Красота, особенно первая фотка
December 1st, 2009 at 4:31 pm
If people really knew how bad of shape the FDIC was in there would real problems. What happened to a bank being a place to keep your money safe?
December 9th, 2009 at 1:28 pm
It’s pretty amazing to see how many banks are closing and consolidating into the bigger ones. Hard to tell if it’s a good thing long term, but short term it’s never good to see folks lose their jobs.
March 8th, 2010 at 1:59 am
merger to be a bigger bank