Bank Failure Friday - July 9, 2010

[joe_momma]

Happy Friday!

Half-way through the year, well into the double-dip (IMHO the initial recession never ended if you discount stimulus spending). The Federal government, true to form, doubled the staff of the FDIC this year and naturally, they are closing fewer banks than last year.

There are ~400 banks insolvent, more than 2,800 that are in trouble (mostly commercial real estate loans) but politically.

How many will be shuttered today? Will they exceed the 1 bank from last week?

For the Ruprick, choose one state which will be honored today.

One can follow along at:

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

[Grand Master Melon]

I chose 3 or 4 and I'm going with Minnesota

[gunDriller]

they've been slacking. i voted 7-8. from looking at the poll results, i guess i'm not the only one who thinks they've been slacking.

for the ruprick, how about some geo-physical event in Washington DC while Congress, the Senate, and the White House are all in session ?

nothing major, just enough to transport Obama-care and all the people who created it and signed it to a different altitude.

[k-os]

I am going with "pent up demand", since there weren't any last week.

As always, an emphasis on Florida banks.

[StackerKen]

Im guessing 3-4

and Ca.

[Apparition]

5-6 is my guess.

[Phoenix]

Probably none, but I voted 1 or 2.

[joe_momma]

I'll go with 5 and Florida!

[MNeagle]

5-6 Georgia

[JohnQPublic]

The Ideal Federal Savings Bank (http://www.fdic.gov/bank/individual/failed/idealfedsvngsmd.html) is bust. Sounds like the the idreal must have been Andrew Jackson's idea of an ideal Federal bank! :D

[platinumdude]

whoopsie for me

[madfranks]

9+ Whoopsie! There is a lot of good news coming out with the large rise in the stock market this week, perfect time to toss a few more banks under the gun.

[MNeagle]

2 so far, both in Maryland

[Apparition]

2 more bringing the total to 4 bank failures:

Home National Bank Blackwell, OK
USA Bank Port Chester, NY

[joe_momma]

Four so far.....

Home National Bank Blackwell OK
USA Bank Port Chester NY
Ideal Federal Savings Bank Baltimore MD
Bay National Bank Baltimore MD