Bank Failure Friday - September 10, 2010

[joe_momma]

Happy Friday!

The previous two weeks have seen both zero banks closed. Last week (anonymous) won with a correct pick - well done!

The silliness that defines fiscal policy continues - direct buying of t-bills to prop the dollar, HFT manipulation to keep the DOW over 10,000 points, and COMEX's magically covering the 3,000 standing silver orders by the end of the month - it has gotten to the point that it is unclear if anyone knows the true value of anything.

Fortunately, there are >800 banks which really do not have to worry about all the bad paper they are holding - these zombie banks are waiting patiently in line for burial - unfortunately for the zombie banks, the FDIC is in charge of the process - meaning the pace is glacial and (almost certainly) inefficient.

How many banks will our fine FDIC service this week?

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

As usual, please get your picks in by 5 pm EDT and choose a Rupick state as a tie-breaker (GA and FL are handicapped).

Best wishes!

:)

[madfranks]

Today's Thursday. :lol

[joe_momma]

I see 7 with California coming due.

(Yeah I know, it is still two hours until Friday in Bangkok - but I try to get the poll up far enough in advance that people working an overnight shift in the states can play.)

[MNeagle]

I really don't have any intuition on this week either way. Part of it is the mid-session elections are not too far away; will they keep a low profile until then?

Part of it is back-to-school has mostly started everywhere, and NFL, so maybe they can slide a whoopsie under the radar?

Will have to ponder it some more before I vote.

[madfranks]

I see 7 with California coming due.

(Yeah I know, it is still two hours until Friday in Bangkok - but I try to get the poll up far enough in advance that people working an overnight shift in the states can play.)


I didn't realize there was such a time differential between us. As of this post, it's 9:40am Thursday morning where I'm at.

[Apparition]

I'm guessing that there'll be 3-4 bank failures.

[1970 silver art]

It will be just a token effort from the FDIC today. The FDIC is probably still hung over from Labor Day weekend but they will put forth some effort to close down some banks. I am going for 3-4 bank failures and the powerball state is Georgia.

[MNeagle]

5-6 with Ohio

[SHTF2010]

9+ Whoopsie


gotta make up for lost time


plus it's 9/11 anniversary


15+ banks go under, plus a reminder that " the muslims did 9/11 ""

booga booga

[1970 silver art]

Looks like one bank failure so far.......................

1.) Horizon Bank Bradenton FL 35061

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

[Ponce]

Upsssssssss here is this thread.......could not see it before.

[joe_momma]

One?!?!?!?

WTF? From now on I will use my grandmother's blind chihuahua's defecatory pattern for my predictions!

There was skunkage (again) for the BMs - (umm, dudes, we kinda need at least one of our tinfoil hats to be properly calibrated to receive instructions from our new insect overlords!)

Kudos to MNeagle with the best cover for (my) everyone's miserable picks - the Zer0 administration is tinkering with the results to influence the election (beating) in Nov.

Personally, I'm upset with myself, I thought I'd be better at this.

condgrads all and see you next week!

[BrewTech]

Thamks to joe_momma for taking the time to put this thread up every week... you do a great job with it! Fun Fun!