Posts tagged as:

bank failures

Banks at Risk of Failure: 702

February 23, 2010

According to the FDIC, over 700 banks are currently at risk of going under, a huge jump over the last three years, and a bit of a shocker given the size of the federal stimulus. The FDIC has already shuttered 20 banks this year, and there is no sign that things will improve in the [...]

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Judge Blasts Bank of America in SEC Trial

January 14, 2010

Note to banks accused of misleading investors: hypocritical defenses will not fly.
Bank of America told its investors that it would not pay bonuses to Merrill Lynch executives as part of the merger. At the same time, BOA authorized Merrill Lynch to pay up to $5.8 billion in discretionary year-end bonuses; $3.6 billion in bonuses were [...]

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2 more banks go belly-up

November 8, 2008

2 more banks go belly-up | CNN Money

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U.S. bank failures almost certain to rise in next year

October 5, 2008

U.S. bank failures almost certain to rise in next year | CNN

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House passes bailout

October 3, 2008

It’s official. Both houses of Congress have now passed what must surely be one of the most pork-laden bills in U.S. history: the Wall Street welfare bill of 2008. Or the bailout, whichever you like. House passes bailout | CNN

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Wachovia goes under, bought up by Citigroup

September 29, 2008

In a deal brokered by the feds, Citigroup has agreed to acquire the majority of Wachovia, the latest bank to fail. From CNN:
Citigroup will acquire the banking operations of Wachovia for $2.2 billion in an all-stock deal, following much speculation over the weekend about the fate of the nation’s fourth-largest bank.
Citigroup buys Wachovia bank assets [...]

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Goodbye WaMu, Hello JP Morgan Chase

September 26, 2008

If you were a Washington Mutual customer yesterday, you are a Chase customer today. JP Morgan Chase bought up most of WaMu’s accounts in the biggest bank failure in history. Expect the stock market to limbo to new, lower heights today.
What will happen if you are a WaMu customer? Here is what Chase has to [...]

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Washington Mutual death knell

September 25, 2008

Washington Mutual is selling many assets to JP Morgan and opening its doors to the Feds, who will take over what is left of the formerly-huge bank.
WaMu’s collapse is the biggest bank failure in history.

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“America’s financial system was shaken to its core on Sunday.”

September 15, 2008

The Wall Street Journal uses its biggest font yet!!! Anxious Morning on Wall Street as Lehman Files for Chapter 11, Merrill Is Sold, AIG Seeks to Raise Cash | Wall Street Journal

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Lehman Brothers faces liquidation

September 14, 2008

Or will the U.S. Treasury bail out yet another bank? U.S. taxpayers have made some sizable investments in failing banks lately. Bear Stearns, Fannie Mae, and Freddie Mac are all still breathing thanks to my money and yours. That means we are now holding some of the same securities that were so bad they sent [...]

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If Enough Banks Fail, The FDIC Could Run Out Of Money

August 27, 2008

If Enough Banks Fail, The FDIC Could Run Out Of Money | Consumerist

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Two banks fail, 90 on FDIC problem list

July 28, 2008

If anyone were still in doubt as to whether or not the United States economy is in recession, the FDIC’s problem list now includes 90 banks at risk of failure. This is not a large number, since there are about 8,500 banks in the country, but it is up from 76 last year.
Historically, only about [...]

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