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Political Ravings Forum - Politics Forum » Political Issues » Worldwide Economic Issues » Florida, Maryland, Utah Banks Seized Amid Deepening Financial Crisis

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Florida, Maryland, Utah Banks Seized Amid Deepening Financial Crisis

#1   02.01.2009

WiseOne Political Forum Owner   Join Date: Sep 2007 Location: Big Sandy, TN Posts: 1,164 Last Seen: 4 Days Ago Persuasion? Independent Political Blog: 1

Florida, Maryland, Utah Banks Seized Amid Deepening Financial Crisis Quote: Jan. 31 (Bloomberg) -- Banks in Florida, Maryland and Utah were closed yesterday as regulators wrapped up the busiest month for failures since the housing slump began in 2006. Ocala National Bank in Florida and Suburban Federal Savings Bank of Crofton, Maryland, were shut by federal regulators, according to statements sent by the Federal Deposit Insurance Corp. MagnetBank of Salt Lake City was seized by the Utah Department of Financial Institutions. The banks had total assets of $876.4 million and deposits of $790 million. Six banks have failed this month as tumbling home prices and a 16-year high in unemployment boost foreclosures. The FDIC classified 171 banks as “problem” in the third quarter, a 46 percent jump from the previous period amid the worst housing crisis since the Great Depression. Read More Here >> Bloomberg WiseOne's Comments, this is getting pretty damn bad now from what I see. I think it will be many, many years before/IF things get better. Damn good thing we have the FDIC now or people would be rioting! I guess this boils down to the fact that there is no quick fix to a completely rotten, greedy, corrupt, failed system! __________________ Reform Government ...take that $13 bucks and shove it up their butts! Hillary For President ...do YOU want Hillary For President? Truck Forum ...making sense of the trucking industry ...I know not with what weapons World War III will be fought, but World War IV will be fought with sticks and stones. -- Albert Einstein ________________________________________

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