Bank Failure Friday - July 2, 2010

[joe_momma]

Happy Friday - I hope everyone has a safe (and sane) 4th of July.

It will be interesting to see how things shake out at the FDIC for bank closures - the conflicting issues of lazy federal bureaucrats, complete denial of any form of fiscal crisis, and a national holiday may lead to the FDIC unexpectedly matching their normal anemic performance.

Personally, since the FDIC published that it expects bank failures to wind down this year (recall there are 300+ insolvent, and >2,800 that are in trouble) what I think this really means is that the FDIC will simply stop acknowledging there is an issue (aka Quantative Easing II).

Last week had 2 winners - well done!

How many will go down this week? For the Ruprick choose a state that will be honored today.


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

[joe_momma]

I'll go with 2 this week and California for the Ruprick!

[k-os]

I'm going with 5-6 with special attention on Floriduh banks. It may even be higher, but I am trying to be conservative. I think it will be a high number because of the holiday weekend. They can bury the news amidst the 4th of July hubbub and the short attention spans will forget about it by the time everyone is sober again on Tuesday.

[platinumdude]

7-8 for me

[StackerKen]

i guess 3 to 4 and Ca.

[gunny highway]

again, i'm rooting for the whoopsie today. c'mon Sheila, kick some ass! :)

[undgrd]

5-6
Illinois tie breaker

[MNeagle]

5-6 Georgia

[madfranks]

9+ Whoopsie because we have a lot of catching up to do!

[Apparition]

3 to 4 is my guess.

[jimswift]

whoopsie and I'm with k-os on Florida.

[Quantum]

3-4 Florida

[Mouse]

zero, it's a holiday weekend. "bank holiday" - no banks closed.

[joe_momma]

Good luck everyone!

[osoab]

zero, it's a holiday weekend. "bank holiday" - no banks closed.


Odd that it is zero so far, but we had 7 closed last 4th of July weekend.


http://www.fdic.gov/news/news/press/2009/

Maybe they couldn't figure out how to pull a name out of a hat.

[joe_momma]

It is looking like ZERO - Mouse may be the undisputed winner - stay tuned!

[Quantum]

FDIC put more effort into redesigning their website this week, than cleaning up more failed banks.

[joe_momma]

It is looking like ZERO - Mouse may be the undisputed winner - stay tuned!


Mouse wins -

Kudos to Quantum for the quote of the week (which I will shamelessly steal next week!)

[Quantum]

It is looking like ZERO - Mouse may be the undisputed winner - stay tuned!


Mouse wins -

Kudos to Quantum for the quote of the week (which I will shamelessly steal next week!)


LOL

:D ;D :D ;D

[Mouse]

Can't be showing us failure before the rockets red glare. Next week I go for 7......

Excerpts from Black Sabbath:

Accept the fact that you're second rate, life is easy for you
It's all served up on a gold plated plate
and we don't even have to talk to you
Your face is normal, that's the way you're bred
and that's the way you're going to stay
Your head is firmly nailed to your TV channel
But someone else's finger's on the control panel

What you gonna be, what you gonna be brother
Zero the Hero
Don't you wanna be, don't you wanna be brother
Zero the Hero
When you gonna be, when you gonna be brother
Zero the Hero
Impossibility impossibolity mother really a Hero

You sit there watch it all burn down
it's easy and breezy for you
You play your life to a different sound
No edge no edge you got no knife have you
Your life is a six-lane highway to nowhere
You're going so fast you're never ever gonna get down there
Where the heroes sit by the river
with a magic in their music as they eat raw liver

What you gonna be, what you gonna be brother
Zero the Hero