PDA

View Full Version : FDIC Failed Bank List


Defenderofthefaith
August 11th, 2008, 7:49pm
Notice the rapid increase since 2007...

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

SweepingBeauty
August 12th, 2008, 10:25am
Yikes:shocked:

Defenderofthefaith
August 12th, 2008, 7:53pm
I read that if banks continue on the decline, that the FDIC won't be able to pay everyone even though you are supposed to be insured for $100K.

inspiringmind
August 13th, 2008, 9:38pm
I wanted to add to this because I saw on the news something related to this. The number of banks that have failed are such a small percentage of the total number of banks in the USA that people don't even have to worry about the FDIC not being able to pay. There are 7,500 banks in the USA. Out of that 150 are expected to fail. That would be .02% of all banks.

http://www.iht.com/articles/2008/07/14/business/14bank.php

Defenderofthefaith
August 14th, 2008, 1:00pm
If you read some articles, though, some of the banks that have failed are NOT the ones the government expected to fail.

angndon
August 14th, 2008, 7:28pm
If you read some articles, though, some of the banks that have failed are NOT the ones the government expected to fail.

Yes I've heard this too. And if you think about it, even if it were any worse, wouldn't it be a disaster if they were to let us know? We'd all be pulling our money out. I can understand why this information would be kept as quiet as possible, not even bank employees would know how bad things were.

Brent
August 24th, 2008, 2:48pm
I read that if banks continue on the decline, that the FDIC won't be able to pay everyone even though you are supposed to be insured for $100K.

After IndyMac failed 3 or 4 weeks ago, it took about 10% of FDIC's total reserves to cover the insured accounts. They are now trying to figure out ways to increase the premiums banks pay for the insurance with the expectation of many more bank failures. The FDIC has spent the last year bringing back many of their former employees that experienced the Savings & Loan disaster in the late 80s and early 90s in anticipation.

I wanted to add to this because I saw on the news something related to this. The number of banks that have failed are such a small percentage of the total number of banks in the USA that people don't even have to worry about the FDIC not being able to pay. There are 7,500 banks in the USA. Out of that 150 are expected to fail. That would be .02% of all banks.

http://www.iht.com/articles/2008/07/14/business/14bank.php

The number of of banks that will fail will no doubt be smaller, but the size of the banks in terms of assets and liabilities are much larger. IndyMac was the third largest bank failure, ever.


Ten Financial Entities On The Brink
http://globaleconomicanalysis.blogspot.com/2008/08/ten-financial-entities-on-brink.html

Lehman (LEH)
Washington Mutual (WM)
Fannie Mae (FNM)
Freddie Mac (FRE)
Corus Bank (CORS)
BankUnited (BKUNA)
Downey Savings (DSL)
Wachovia (WB)
Regions Financial (RF)
MBIA (MBI)
Ambac (ABK)


Yes I've heard this too. And if you think about it, even if it were any worse, wouldn't it be a disaster if they were to let us know? We'd all be pulling our money out. I can understand why this information would be kept as quiet as possible, not even bank employees would know how bad things were.

Anyone that currently has more than the FDIC insurance limit ($100,000 per individual per bank, $250,000 for retirement accounts) in any bank is either certifiably insane or completely oblivious to the economic and financial disaster that befalls us. The talking heads- the politicians, the bankers and the mainstream media, have all been either 100% wrong in their underestimation and/or outright denial of the systemic problems that currently exist. Even the few people who understood and foresaw the problems have all grossly underestimated the severity.

The current U.S. banking and financial system is a glorified ponzi scheme built on a house of cards and much of it is completely insolvent.

And we're not anywhere near the bottom.


I highly recommend the following web sites for anyone who wants to truly understand what's going on:

Mish's Global Economic Trend Analysis
http://globaleconomicanalysis.blogspot.com/

Calculated Risk
http://calculatedrisk.blogspot.com/

The Market Ticker
http://market-ticker.denninger.net/

The Housing Bubble Blog
http://thehousingbubbleblog.com/

naked capitalism
http://www.nakedcapitalism.com/

ECONOMICROT
http://economicrot.blogspot.com/

Mike Morgan Behind Enemy Lines
http://realestateandhousing2.blogspot.com/

Sudden Debt
http://suddendebt.blogspot.com/

immobilienblasen
http://immobilienblasen.blogspot.com/

Bubble Markets Inventory Tracking
http://bubbletracking.blogspot.com/

The Big Picture
http://bigpicture.typepad.com/

HousingTracker.net
http://www.housingtracker.net/

US Housing Crash Continues
http://patrick.net/

RGE Monitor
http://www.rgemonitor.com/

Shadow Government Statistics
http://www.shadowstats.com/

Minyanville
http://www.minyanville.com/

Seeking Alpha
http://seekingalpha.com/


Brent

angndon
August 27th, 2008, 1:00pm
I'm not sure what to do now.

Today it came out that the FDIC wants to borrow money from the treasury, because they won't have enough money to cover money in the accounts of the banks that are troubled.
http://news.yahoo.com/s/nm/20080827/ts_nm/fdic_treasury_dc_2

Defenderofthefaith
August 27th, 2008, 1:07pm
I would invest in overseas comodities and put your cash in a strongbox--not in a bank. I don't really have a lot of money to worry about though.

angndon
August 28th, 2008, 10:38pm
In the news today

What the FDIC isn't telling us
http://biz.yahoo.com/cnnm/080828/082808_fdic_banks.html

Defenderofthefaith
August 28th, 2008, 11:09pm
Yep--can't trust the banks anymore...

coljim
September 15th, 2008, 12:25am
Think Credit Union. I've been a member for years.
http://tinyurl.com/2k8zmk

Defenderofthefaith
September 15th, 2008, 10:07am
Another bank just failed in Nevada--check list.

coljim
October 2nd, 2008, 2:01am
Another bank just failed in Nevada--check list.

That's why I use a Credit Union.

snookers
November 8th, 2008, 12:34am
Another two failed today...including Security Pacific Bank.

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