Error editing post! Your message is too short. Please lengthen your message to at least 5 characters. Another bank failure today
Results 1 to 8 of 8

Thread: Another bank failure today

  1. #1
    God/dess Deogol's Avatar
    Joined
    Dec 2003
    Posts
    5,493
    Thanks
    120
    Thanked 50 Times in 35 Posts

  2. #2
    Banned Melonie's Avatar
    Joined
    Jul 2002
    Location
    way south of the border
    Posts
    25,932
    Thanks
    612
    Thanked 10,563 Times in 4,646 Posts
    Blog Entries
    3
    My Mood
    Cynical

    Default Re: Another bank failure today

    ^^^ fortunately for the FDIC, another 'shotgun wedding' was hastily arranged ... with Citizen's Bank 'taking over' the nine branches and existing accounts of comparatively tiny Columbian Bank and Trust. The 'shotgun wedding' approach reduces the short term payouts that the FDIC must make ... but it also reduces the future tax revenues that Citizen's Bank will generate (since they can claim unrealized 'losses' on former Citizen's Bank activities against their own income). This of course amounts to a de-facto shift in bailout costs from the FDIC to federal / state taxpayers, as well as a de-facto subsidy to Citizen's Bank stockholders / investors.

  3. #3
    God/dess Deogol's Avatar
    Joined
    Dec 2003
    Posts
    5,493
    Thanks
    120
    Thanked 50 Times in 35 Posts

    Default Re: Another bank failure today

    Quote Originally Posted by Melonie View Post
    ^^^ fortunately for the FDIC, another 'shotgun wedding' was hastily arranged ... with Citizen's Bank 'taking over' the nine branches and existing accounts of comparatively tiny Columbian Bank and Trust. The 'shotgun wedding' approach reduces the short term payouts that the FDIC must make ... but it also reduces the future tax revenues that Citizen's Bank will generate (since they can claim unrealized 'losses' on former Citizen's Bank activities against their own income). This of course amounts to a de-facto shift in bailout costs from the FDIC to federal / state taxpayers, as well as a de-facto subsidy to Citizen's Bank stockholders / investors.
    I heard $42,000,000.00 of depositor's uninsured money went up in smoke too.

    I guess that is one way to get money out of the money supply!

    Seems to be some deflation going on. Money disappearing out of houses. Money disappearing out of banks. Money disappearing out of stocks. Millions and millions being destroyed.

  4. #4
    Veteran Member StuartL's Avatar
    Joined
    Feb 2006
    Location
    European Man Of Mystery
    Posts
    648
    Thanks
    1
    Thanked 21 Times in 7 Posts

    Default Re: Another bank failure today

    Quote Originally Posted by Deogol View Post
    Seems to be some deflation going on. Money disappearing out of houses. Money disappearing out of banks. Money disappearing out of stocks. Millions and millions being destroyed.
    You never hear financial commentators on the TV or in the general media comment on this, but this all sounds like the stagflation nightmare is arriving. Welcome back to the 70s...

  5. #5
    God/dess whirlerz's Avatar
    Joined
    May 2004
    Location
    Midwest
    Posts
    27,134
    Thanks
    55,898
    Thanked 26,028 Times in 13,271 Posts
    Blog Entries
    1
    My Mood
    Aggressive


    MANY MEN WANTED TO LAY ME DOWN, BUT FEW WANTED TO LIFT ME UP

    -Eartha Kitt

  6. #6
    Banned Melonie's Avatar
    Joined
    Jul 2002
    Location
    way south of the border
    Posts
    25,932
    Thanks
    612
    Thanked 10,563 Times in 4,646 Posts
    Blog Entries
    3
    My Mood
    Cynical

    Default Re: Another bank failure today

    You never hear financial commentators on the TV or in the general media comment on this, but this all sounds like the stagflation nightmare is arriving
    The other reason you don't hear much about this in American news media is that FOREIGN investors ... from the Chinese gov't to Arab oil shieks to Belgian dentists ... have been eating a large share of these losses !

  7. #7
    God/dess Deogol's Avatar
    Joined
    Dec 2003
    Posts
    5,493
    Thanks
    120
    Thanked 50 Times in 35 Posts

    Default Re: Another bank failure today

    I think it is more because the American News media is more interested in the latest child killer, missing blonde cheerleader, or who ate their wedding ring. (Actual story.)

    Thank God for the internet.

  8. #8
    God/dess Nautilus's Avatar
    Joined
    Nov 2005
    Location
    a safe place for dancers, just ask me
    Posts
    2,132
    Thanks
    0
    Thanked 4 Times in 3 Posts

    Default Re: Another bank failure today

    *weighing*

    jon benet ramsay v collapse of the US economy?

    hmmmm....

Similar Threads

  1. Yet another bank failure
    By Deogol in forum Dollar Den
    Replies: 7
    Last Post: 09-07-2008, 06:10 AM
  2. Not a bank failure - CITY FAILURE
    By Deogol in forum Dollar Den
    Replies: 2
    Last Post: 05-07-2008, 03:56 PM
  3. FDIC proposes bank failure rule changes
    By Vamp in forum Dollar Den
    Replies: 1
    Last Post: 12-22-2007, 07:03 PM
  4. Third bank failure this year
    By Deogol in forum Dollar Den
    Replies: 1
    Last Post: 10-05-2007, 03:48 AM
  5. Bank Failure in Georgia
    By Deogol in forum Dollar Den
    Replies: 2
    Last Post: 09-29-2007, 10:05 AM

Bookmarks

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •