Is Your Bank Safe (part 3 of 3)
The FDIC, which insures virtually every bank deposit in this country, is rapidly digging itself into a $500 billion hole. Here’s how.
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Who’s the FDIC Gonna Call?
November 2nd, 2009 — Banks
FDIC: Rescuer or Rescuee?
October 12th, 2009 — Banks
Is Your Bank Safe (part 2 of 3)
Last weekend the FDIC seized three smaller banks. This makes a total of 98 banks that failed this year. The banks were Jennings State Bank (Spring Grove, MN), Warren Bank (Michigan) and Southern Colorado National Bank (Pueblo).
The FDIC is chief savior when banks fail. It monitors the financial health of banks. Whenever a bank collapses, the FDIC moves in to arrange auctions of their assets and debts to other banks and/or hedge funds.
Having been a customer of two early banking failures last year (a bank and a credit union), I can personally attest the FDIC process works well. But can the FDIC keep up it up?
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Is Your Bank Safe?
October 1st, 2009 — Banks
(part 1 of 3)
Trickle down” bailouts aren’t working for smaller banks.
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