Busy Day For The FDIC

[DeadManCrawling]

It's not yet closing time in the west or HI and AK.

So far, todays tally:

Bank Closing Information - March 19, 2010
These links contain useful information for the customers and vendors of these closed banks.

State Bank of Aurora, Aurora, MN
First Lowndes Bank, Fort Deposit, AL
Bank of Hiawassee, Hiawassee, GA
Appalachian Community Bank, Ellijay, GA
Advanta Bank Corp., Draper, UT
Century Security Bank, Duluth, GA
American National Bank, Parma, OH

Total taxpayer cost today: 1.4 billion dollars.

Pretty large. The FDIC is well into the red now, I think. They were flirting with insolvency, themselves, for the past few weeks. And we are nowhere near the middle of the year, much less the end.

We are at nearly 40 bank failures so far this year, with dozens or possibly hundreds more to come.

[dakota112]

The whole thing is a house of cards. It is all coming down; when? I have a feeling soon.

[justbroke]

Don't worry... Geitner and the administration will print some more. And, I heard today on CNN, that when the healtcare package passes, by 2020 we'll be saving a little money (< $100B a year), so, if only the Banks can hold on a little longer.