BFF=Bank Failure Friday 2010

[HOLLYWOOD]

It's Friday

FDICgov FDIC Gov
Sabadell United Bank, National Association, Miami, Florida, Assumes All of the Deposits of Lydian Private Ban... 1.usa.gov/nyx3s2
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FDICgov FDIC Gov
Capital Bank, National Association, Rockville, Maryland, Assumes All of the Deposits of Public Savings Bank, ... 1.usa.gov/ocOs98

http://twitter.com/#!/FDICgov/status/104300912289386496

 

[Todd]

Isn't this thread still relevant?

 

[fatjohn]

Relevant yes, but not quite as entertaining as it once was.
Now it is will a bank fail this friday and not how many.

 

[Zippyjuan]

I see there have been a total of three so far this year. Guess the worst is well passed. http://www.fdic.gov/bank/individual/failed/banklist.html
Compare that to eleven by this time last year, 23 by this date in 2011, 22 for 2010, 16 for 2009, and two for 2008.

During the S&L crisis of the 1980's there were over 100 closures a year for ten straight years- with the peak year having over 500 (1988 and 1989 together had a combined total of over 1000). http://mjperry.blogspot.com/2008/01/history-of-us-bank-failures.html

 

[Acala]

Well, thank God the banks are doing better! I was worried there for awhile.

 

[Lucille]

I see there have been a total of three so far this year. Guess the worst is well passed. http://www.fdic.gov/bank/individual/failed/banklist.html
Compare that to eleven by this time last year, 23 by this date in 2011, 22 for 2010, 16 for 2009, and two for 2008.

Is the worst well passed, "Juan?" The "TBTF" are gobbling up small banks (just like they are fraudclosures) before they can be shuttered. Thanks to the repugnant bailouts and Frankendodd, TBTF continue to get bigger.

It's how fascism rolls.

Wall Streeters say Obama's second term will be the death knell for small banks.

Emmett Daly, a Sandler O'Neill dealmaker who specializes in small banks, predicted at an industry conference put on by Mergermarket on Thursday that the number of banks in the U.S. would shrink to a few hundred. There are currently more than 7,000. Bill Egan, head of financial institutions investment banking at Bank of America Merrill Lynch, agreed, but said the weeding out process was likely to take more than a decade.

Too Big to Fail Rules Hurting Too Small to Compete Banks

“I do see probably anywhere from 2,000 to 4,000 banks being swallowed up, and what you’ll see then is a more- concentrated system.”
[...]
JPMorgan’s Dimon, a critic of regulations he views as unnecessary or excessive, has recently touted the benefits. He told Citigroup analysts this month that new rules will help banks such as JPMorgan, the largest in the U.S., win market share from smaller competitors, the analysts wrote in a report.

In Dimon’s view, they wrote, the changes will “make it more expensive and tend to make it tougher for smaller players to enter the market, effectively widening JPM’s ‘moat.’”

The new rules, it turns out, may be doing more to shield banks from competition than to make them safer.

Great.

“An environment that doesn’t learn from mistakes is one that’s not very healthy,” Taleb said today in an interview with Erik Schatzker on Bloomberg Television. “We should have broken up the banks, we should be decentralizing. Instead the system is getting more centralized.”

Three of the four largest U.S. banks -- JPMorgan Chase & Co., Bank of America Corp. and Wells Fargo & Co. -- are bigger today than they were in 2007, heightening the risk of economic damage if one gets into trouble.

During the S&L crisis of the 1980's there were over 100 closures a year for ten straight years- with the peak year having over 500 (1988 and 1989 together had a combined total of over 1000).

You know what else happened during the S&L crisis? Banksters were actually prosecuted for their crimes. Not under O Duce. But hey, as long as "the worst is well passed," I guess the greatest (on-going) theft of the people's money, the biggest scandal in the history of the republic, and the destruction of the country was worth it.

 

[Lucille]

Well, thank God the banks are doing better! I was worried there for awhile.

"What's good for the banks is good for the country!
--The Bank Dick