U.S. regulators seize two more banks, engineer sale

[hillbilly123069]

http://news.yahoo.com/s/nm/20080726/bs_nm/banks_fdic_dc
You know, this is the governments attempts to deter an inevitable depression.

 

[Uriel999]

fuck

 

[Bruno]

That's only .3% of their deposits so far. I'm more surprised that they can just come in, seize the assets of a bank, and sell it off to another bank without even an open bid. How is any of that allowed by law? Could any other business besides a bank be shut down and all assets sold without due process? I'm not that familiar with the banking regulations and the FDIC.

 

[RSLudlum]

That's only .3% of their deposits so far. I'm more surprised that they can just come in, seize the assets of a bank, and sell it off to another bank without even an open bid. How is any of that allowed by law? Could any other business besides a bank be shut down and all assets sold without due process? I'm not that familiar with the banking regulations and the FDIC.

and don't forget the last line

In addition to assuming all the deposits, Mutual of Omaha Bank will purchase about $200 million of assets and pay the FDIC a 4.41 premium to assume the deposits.

is this FDIC's profit?

 

[Bruno]

and don't forget the last line




is this FDIC's profit?

My guess is it's not ours.