Bank Failures Rise to 77 for 2009
Tags: Financial Crisis, Obama Depression.
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The hits just keep coming:
Troubled Colonial BancGroup will be bought by rival BB&T Friday, the government said after state regulators closed the bank whose assets had been frozen by a federal judge.
The Montgomery, Ala., bank, which has 346 branches spread across Florida, Alabama, Georgia, Nevada, and Texas, is the sixth largest bank failure in U.S. history and by far the largest failure of 2009.
With $25 billion in assets and $20 billion in deposits, Colonial is 100 times larger than the typical bank to have failed this year…
…The failure of Colonial is another blow to the FDIC trust fund, which has had to cover 77 bank failures so far in 2009 — including four more late Friday…
They are failing because people aren’t paying their loans – home mortgages and, increasingly, commercial mortgages. Anyone who thinks we’ve bottomed out is a complete fool – we’ve got stock market bubbles and government spending-forced GDP “gains”, but the real economy is sliding rapidly in to depression. It’ll be years before we crawl out of this – and the more we go with liberalism, the longer it will be take and the poorer we’ll get.
UPDATE: And the question is asked: Is the FDIC broke?
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8 Responses to “Bank Failures Rise to 77 for 2009”
Caucus of Corruption
It’s all Bush’s fault, don’cha know?
OT: Earbama appoints FCC czar in lieu of Fairness Doctrine…
More OT (sorry, Mark/Matt; we need an open thread please):
1. The Southern Poverty Law Center is a far-left outfit. Don’t let their name fool you; leftists use this tactic to fool the dumbed-down into believing that they represent all people and causes.
2. “Socialist” is the new “n-word…”
More OT:
If a white man says today: “We need to take our country back.”, he is a racist. When Howard Dean said the same thing, he was hailed as a patriotic American.
I was watching the only fair and balanced news the other day, and they had some Donk strategist on who acted, even insisted, that this “take America back” is a new thing, that it’s because DA Earbama is black.
More lies from the left.
Don’t feed the
liarstrolls…Two parts first your lifestyle depends on how you are viewed by members of your ruling elite who while similar in pigment may not be similar in politics. it is tribal suicide for upward mobility to be an open public bigot in America unless you already have money.
Don’t feed the incoherent trolls. Can any non-troll decipher this poorly-written, poorly-punctuated blather for me?
luvRu5hh8l1b5,
No, because we don’t feed the trolls. We’d re-ban Gabriel but he/she/it seems to have such a burning desire to troll here that we’d rather just keep deleting the comments, especially as we’re in the process of increasing the monitoring of the blog through the day.
Don’t feed the illiterate trolls, especially that Brimmer who can’t write coherently…
Keef,
What trolls? We don’ got no trolls, I don’ see no trolls, we don’ haffa answer any stinkin’ trolls.
Keep starvin’ ‘em…