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Bank Failures

California Banks Began to Implode

by Moe Bedard

Rod Brown, president of the California Bankers Association, said that despite this novel and helpful move, more bank failures probably lie ahead.
“At best we are only halfway through this thing,” he said.

Anderson said his firm has a ranking system that considers 29 out of California’s 297 banks in danger of failure over the next year. [...]

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Banks in deep trouble

by Moe Bedard

But it’s not a simple case of flourishing banks versus ailing workers: banks that are actually in the business of lending, as opposed to trading, are still in trouble. Most notably, Citigroup and Bank of America, which silenced talk of nationalization earlier this year by claiming that they had returned to profitability, are now — [...]

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Bank Armageddon: The FDIC is Strapped for Cash

by Moe Bedard

The Federal Deposit Insurance Corp (FDIC) looks to be strapped for cash. Just like the banks and the American people for which their cash, they protect. It looks like they’re following in the footsteps of Bear Stearns, Freddie and Fannie because now the FDIC may seek to borrow money from the Treasury Department AKA the [...]

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