More banks keep failing - FDIC takes over 5 banks on Friday
Politics, Bailout News, California Housing Crash, Florida Housing Crash, The Economy June 27th, 2009
45 banks have gone under so far this year. According to AP via Yahoo Finance:
NEW YORK (AP) — Regulators on Friday shut down five small banks, boosting to 45 the number of failures this year of federally insured banks. More are expected to succumb in the prolonged recession.
The Federal Deposit Insurance Corp. was appointed receiver of the failed banks: Community Bank of West Georgia, based in Villa Rica, Ga.; Neighborhood Community Bank, located in Newnan, Ga.; Horizon Bank in Pine City, Minn.; MetroPacific Bank in Irvine, Calif.; and Mirae Bank in Los Angeles.
June 29th, 2009 at 7:18 pm
Hi,
Feel bad for California…are there no programs and regulations set in place to alleviate this?