Bank Failure Friday - Nov 5, 2010

[joe_momma]

Bank Failure Friday - the weekly contest to see how many banks attain the financial equivalent of "a human body reaching room temperature".

First, congradulation to the unknown winner for correctly choosing ZERO last week!

This week may be special - we may see not only a whoopsie (9+ failures) but possibly the never-before-seen "MEGA-ATOMIC-WHOOPSIE" (15+ failures).

Since the election is over, there's little political downside to finally addressing the immense backlog of failed banks. (Plus the administration can say "As soon as it was clear the House will be Republican the economy began to fail."

How many banks will be honored by the FDIC this week? For the Ruprick (tie breaker) choose a state to be honored.

One can follow along at:

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

Good Luck All!

[SHTF2010]

15+ MEGA-ATOMIC-WHOOPSIE


THIS IS IT !!!


obama is in India for a reason . . .

[mick silver]

i am going for the big one too

[Apparition]

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

[MNeagle]

I say 7-8, with CA for the Ruprick. I just don't think they have the staff to do a whoopsie or more.

[DMac]

9+ Long over due "Whoopsie"

Taxachusetts for the Ruprick

[Ash_Williams]

Seven

[1970 silver art]

Thanksgiving is about 3 weeks away, however, since the gov't is very slow, they need this time to start preparing the Thanksgiving festivities. Since they are going to be very busy with Thanksgiving preparations, then I predict that 1-2 banks will fail today and for the ruprick I pick..............................drumroll please........................Tennessee.

[beefsteak]

6. GA

[MNeagle]

Bank Failure Friday - the weekly contest to see how many banks attain the financial equivalent of "a human body reaching room temperature".

First, congradulation to the unknown winner for correctly choosing ZERO last week!

This week may be special - we may see not only a whoopsie (9+ failures) but possibly the never-before-seen "MEGA-ATOMIC-WHOOPSIE" (15+ failures).

Since the election is over, there's little political downside to finally addressing the immense backlog of failed banks. (Plus the administration can say "As soon as it was clear the House will be Republican the economy began to fail."

How many banks will be honored by the FDIC this week? For the Ruprick (tie breaker) choose a state to be honored.

One can follow along at:

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

Good Luck All!


Joe M; your link is broken. Have another?

[Dogman]

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

[joe_momma]

One so far!

K Bank Randallstown MD

[Dogman]

Western Commercial Bank

[MNeagle]

And now a second in CA; wow, it's not even 5 pm PST is it?

[joe_momma]

Three - they got to the left coast much earlier!


Pierce Commercial Bank Tacoma WA
Western Commercial Bank Woodland Hills CA
K Bank Randallstown MD 31263

[mick silver]

i am to the point they can close everyone of the f banks

[MNeagle]

Had not noticed this before: (from a few weeks ago)


First Arizona Savings, A FSB Scottsdale AZ 32582 No Acquirer October 22, 2010 October 22, 2010

Which tells me there was no buyer for that bank?? Then what happens to it?

[Dogman]

Had not noticed this before: (from a few weeks ago)


First Arizona Savings, A FSB Scottsdale AZ 32582 No Acquirer October 22, 2010 October 22, 2010

Which tells me there was no buyer for that bank?? Then what happens to it?


I would think empty building. If no one buys or takes over operations, it is history.

[joe_momma]

Had not noticed this before: (from a few weeks ago)


First Arizona Savings, A FSB Scottsdale AZ 32582 No Acquirer October 22, 2010 October 22, 2010

Which tells me there was no buyer for that bank?? Then what happens to it?


No acquirer is getting more frequent - if the FDIC cannot find a bank to take over a "failed" bank, the FDIC assumes the bank's assets and sells them off piecemeal. This should tell you how bad things are - since the FDIC will usually guarantee at least 50% of the "paper" value of the assets.

In other words, no banks wanted to buy a failed bank at $0.75 on the dollar with $0.50 guaranteed by the FDIC - meaning the banks paper asset is worth less than $0.25 for each dollar.

Ouchie!

[joe_momma]

Four is the count!

Well done Apparition (and two others to be named later)!

First Vietnamese American BanK Westminster CA
Pierce Commercial Bank Tacoma WA
Western Commercial Bank Woodland Hills CA
K Bank Randallstown MD

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

(editing error - lol!)

[BrewTech]

Four is the count!

Well done Apparition (and two others to be named later)!

First Vietnamese American Ban Westminster CA
Pierce Commercial Bank Tacoma WA
Western Commercial Bank Woodland Hills CA
K Bank Randallstown MD

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


LOL... Little Saigon gets hit with the FDIC bomb...