Five Banks Seized, Raising U.S. Tally This Year To 45

Bloomberg News:

June 26 (Bloomberg) -- Five U.S. banks with total assets of about $1.04 billion were seized by regulators, pushing this year's tally of failures to 45 as a recession drives up unemployment and home foreclosures.

Read the whole story: Bloomberg News

Comments

[jerrypl]

And there will be more. The financial crime syndicate needs to be allowed to fail by pulling the government feeding trough away.

http://eye-on-washington.blogspot.com

[nomorefed]

We need to stop the corruption by Goldman, bank of Amerika, and Jp Morgan. Stop the Geithner and bernanke. . Go to: http://www.bit.ly/12NCJR and read the full Rolling Stone [Taibbi] The Great American Bubble Machine article. (on the upper right hand side)

Obamma,s policies may not be working as well as many had hoped:

1st 100 days - There are 2.9 million more people unemployed in May than there were unemployed in January. The unemployment rate went from 7.6% to 9.4%. Since May 2008, we have lost 5.5 million jobs. The biggest losers were: Manufacturing 1.5 million lost Finance & Prof Serv 1.5 million lost Construction 1.1 million lost Retail & Leisure 1.3 million lost

good articles http://www.bit.ly/12NCJR recommended reading

Why isnt the stock market falling when the economy is sinking? Why cant we get change in Washington that we really need? Why vote? ..

[nomorefed]

We need to stop the corruption by Goldman, bank of Amerika, and Jp Morgan. Stop the Geithner and bernanke. . Go to: http://www.bit.ly/12NCJR and read the full Rolling Stone [Taibbi] The Great American Bubble Machine article. (on the upper right hand side)

Obamma,s policies may not be working as well as many had hoped:

1st 100 days - There are 2.9 million more people unemployed in May than there were unemployed in January. The unemployment rate went from 7.6% to 9.4%. Since May 2008, we have lost 5.5 million jobs. The biggest losers were: Manufacturing 1.5 million lost Finance & Prof Serv 1.5 million lost Construction 1.1 million lost Retail & Leisure 1.3 million lost

good articles http://www.bit.ly/12NCJR recommended reading

Why isnt the stock market falling when the economy is sinking? Why cant we get change in Washington that we really need? Why vote?

[NPA]

Many more banks will fail cause the system still has more debt that currency. During the Bush years people were over extended and the rich were richer.

[nomorefed]

REAL unemployment is DOUBLE the 'official' statistics. GOvernment has been playing major games with all stats for a while now - both parties are to blame.

REAL unemployment should be including 'discouraged' workers - those no longer trying and long off unemployment benefits, as well as those 'self-employed' and actually LOSING money and should account for the vast numbers of UNDER employed - those working part-time involuntarily, those working at jobs far below their qualifications and previous income levels and those working part-time because they can;t find full-time work.

good articles for slow news days: http://www.bit.ly/12NCJR

If the truth were being reported we'd be having riots in the streets. And meanwhile the top execs in banks and brokeragesa that caused such a mess are STILL employed and making millions while laying off THOUSANDS of people that actually do work. If you know anyone in banking that's still employed, odds are they are doing the work of three people so the top execs can show 'savings' and contineu collecting mega-incomes.

[StoicRep]

Why don't they give more loans to people like Michael JAckson and Donald Trump - they live like billionaires when they are grossly in debt. Are they too much in hock to fail? Should their children be millionaires?

[larry278]

Yes, this is the USA. It's another week-end; 5 banks failed.

[DFL]

GOP depression #2

[Prakosh]

As more and more banks are seized it shows how ironic Citi Banks claims that they needed to radically increase the salaries they are offering bankers in order to attract top talent. One has to question just what constitutes "top talent" in the banking jargon and why with so many bankers and other losing their jobs and with all the failed banks why these jobs and those applying for them would be worthy of salary increases at this particular juncture.

[desertman]

Eventually, this "top talent" argument will have to be shelved. The banking industry is deflating with the rest of the economy.

[ssfahrer]

It's all part of a Government plot to slowly seize ALL banks until there are none left to seize-- because THEY would own them all. Welcome to the Bank of Obama, folks!

[WIpatriot]

Assets of private banks are bailed out by our government (you) and sold below value to other bigger private banks. What kind of plan is that?

[bascombe]

the plan to use the government to support banking monopoly.

[kelo]

I would be interested in knowing how much the CEO of these failed banks made. How much money they took with them before they failed. And if our lousy government wil do anything to recoup this money.

[planetjeffy]

I love Bank Seizure Fridays. You never know who's next. Five is the most I've seen in a while.

[larry278]

FDIC is trying to set new records.

[nomorefed]

Money doesn’t grow on trees for most of America. We sit down at our kitchen tables and write
out checks to the phone-company, electric company, credit card-company, mortgage-company,
and auto finance company every month. We clip coupons and go to the grocery store every
week to put food in the mouths of our children. This is what our parents did before us.

good articles: http://investmintideas.blogspot.com/ recommended

Goldman and Bank of America run the markets along with Geithner, and beagle boy Ben. There
is no free markets, only welfare capitalism and socialism for capitalism.

[vagabondvet]

But the Stimulus was rushed through Congress to save us all!

[dadw5boys]

THE STIMULUS PREVENTED MANY MANY PEOPLE ROM BEING LAID OFF.

[desertman]

True, had the dominoes been allowed to fall as they would have. Many would be in soup lines.

[jane gutowski]

All these crazy bloated Obama bills are rushed thru. The plan is to put them into practice before we understand whats going on and the administration is getting away with it.

[Adartist777]

Our economy won't get better until we reduce unemployment. But until then, we'll continue to see bank failures while Wall Street paints a rosy picture of the fourth quarter.

[vagabondvet]

That's absurd. Unemployment doesn't start falling until after economic fundamentals improve. That's economics 101.

[Carolab]

The Fed and its banks have NOTHING to do with the real economy.

[desertman]

Which won't happen until companies start to hire which won't be anytime soon.

[bascombe]

but you didn;t take econ 101.

[dadw5boys]

AS AN INVESTOR THE FIRST THING YOU LEARN IS TO IGNOR WALLSTREET NEWS.

TOO MANY SHARKS IN THE POOL TO BELIVE THAT LOT-O-BULL

[desertman]

You have to read between the lines, not ignore it. That's what a real investor needs to be doing right now.