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joe_momma
25th June 2010, 05:57 AM
Happy Friday!

It is the week before July 4 - nearly half the year is gone and yet the FDIC is woefully behind any reasonable expectation of throughput.

There are ~350 banks which have failed, and another 2,000+ which are in trouble (mostly commercial real estate exposure).

How many will be shuttered today? For the Ruprick - choose one state which will be honored.

One can follow along at
http://www.fdic.gov/bank/individual/failed/banklist.html

Fun links
1) The next 483 banks to fail
http://www.investinganswers.com/node/1342

2) FDIC expects failures to peak in 2010 (yeah right)
http://www.washingtonpost.com/wp-dyn/content/article/2010/06/20/AR2010062003441.html

3) FDIC opens new office to help close banks (hence the anemic performance)
http://banksandtheeconomy.blogspot.com/2010/05/fdic-expects-bank-failures-to-peak-this.html

Good luck!
joe_momma
25th June 2010, 05:57 AM
I'll go with 6 and Georgia!
k-os
25th June 2010, 06:14 AM
I am disappointed with the bank failures, they are failing to fail fast enough. I am going with 1-2 this week. I'll say Florida is the lead, as usual.

I do expect the DOW to go down quite a bit today . . . I am going to the gym.
Apparition
25th June 2010, 10:03 AM
3-4 is my guess.
MNeagle
25th June 2010, 01:37 PM
3-4 Michigan
Apparition
25th June 2010, 03:47 PM
2 so far:

First National Bank Savannah, GA
Peninsula Bank Englewood, FL
gunDriller
25th June 2010, 04:13 PM
3 !

New Mexico, Georgia, Florida.

the night is young 8)
Ponce
25th June 2010, 04:44 PM
My freaking bank should be one.........two weeks ago I gave them $4,980 for them to get me $5,000 more Canadians and they told me that it wont be for another week.....something about the purse holder of foreign currency buying the farm and they are checking everything out.

I say 3, the usual.
Steal
25th June 2010, 07:47 PM
bumpity bump
joe_momma
25th June 2010, 07:47 PM
3 Looks to be the count -

GA, NM, and FL

MNeagle takes first place with a correct pick but missed Ruprick
Apparition domniates second with a correct pick but no Ruprick


Well done - (Personally I've a nearly perfect record of not winning!) - See you all next week

High Desert State Bank Alburquerque NM 35279
First National Bank Savannah GA 34152
Peninsula Bank Englewood FL 26563
MNeagle
25th June 2010, 07:50 PM
Thank you, thank you. Drinks on me (& the FDIC) tonight!! :D
Ponce
25th June 2010, 10:34 PM
What the frikitifriking frak are you talking about Joe? he said 3-4 and I SAID 3, I WAS RIGHT ON THE MULA...........crap.
milehi
26th June 2010, 01:10 PM
One more, late yesterday afternoon.

Arrowhead Credit Union- CA

http://www.sbsun.com/news/ci_15380643
gunDriller
26th June 2010, 02:08 PM
One more, late yesterday afternoon.

Arrowhead Credit Union- CA

http://www.sbsun.com/news/ci_15380643


http://www.fdic.gov/bank/individual/failed/banklist.html

i don't get it - does this mean the FDIC doesn't deal with failed credit unions ?

anybody know a list to watch of failed credit unions, similar to the FDIC bank list ?
BrewTech
26th June 2010, 02:39 PM
One more, late yesterday afternoon.

Arrowhead Credit Union- CA

http://www.sbsun.com/news/ci_15380643


http://www.fdic.gov/bank/individual/failed/banklist.html

i don't get it - does this mean the FDIC doesn't deal with failed credit unions ?

anybody know a list to watch of failed credit unions, similar to the FDIC bank list ?


I believe the NCUA deals with credit unions... yupitty yup... here it is:

http://ncua.gov/NewsPublications/News/PressRelease.aspx

Damn! Arrowhead (was) one of the more numerous credit unions in my area... they had a branch in my local supermarket... this may give a few folks around here pause.