Georgia is Leading the US in Number of Banks and Bank Failures
It seems as if banks in Georgia just cant seem to stay solvent. This may be turning into a real problem for residents of that state, as many of them could soon have far fewer banking options.
Bank Failures Reach 120 For 2009 As Five More Banks Fail Last Friday
The recent rash of bank failures continues with the FDIC closing five more banks on November 6th, bringing the total number of bank failures in 2009 to 120.
What to Do If Your Bank Fails
With so many banks failing this year (115 as of last Friday) and with predictions that the rate will not likely slow for at least the next few years, people are starting to wonder if maybe their bank will be next.
A Century of Failures: 3 more Banks Fail as number nears 100
2009 certainly has not been a good year for banking. The FDIC closed 3 more banks this weekend bringing the total number of bank failures to 98 this year. FDIC projections put the number of failures to reach the 100 mark within a couple of weeks.
Best CD Rates For The Week Starting Sept. 07
With CD rates falling to an all-time low last week, we thought nothing could possibly get worse. But it turns out there was more to come.
The List of Failed Banks Has Grown, But the Worst May Be Over
There is a lot of talk in mainstream media about failed banks, so we went directly to the source--the FDIC, to find out the full story. Here, you can see clearly that last year, 26 banks failed in total. As you can see from the chart there was very little activity in the first half of the year, then bank failures steadily increased from July through December.
Countdown to Inauguration: Updates on the US Economy
More than a month before he officially takes his seat in the Oval Office, President-Elect Barack Obama's already towering economic to-do list is still growing by the minute.
As anticipated, people are looking to him as the go-to guy now more than anybody else. Even the upward and downward swings of the financial markets are largely dependent on Obama’s moves, rather than on what the current president has to say in his final days in office.
FDIC Deposit Insurance Coverage Raised from $100,000 to $250,000 per owner
As a follow up to our post on ways to increase your coverage in case of bank failure, we've learned that the FDIC is temporarily raising the limit to $250,000 per owner. This means that if you have a joint account, it's $250,000 per co-owner. The insurance coverage increase lasts all the way through 2009, so you should have plenty of time to think before you consider moving your cash around. Source: http://www.fdic.gov/news/news/financial/2008/fil08102a.html
Are Men to Blame for the Housing Crash?
Matthew Syed at the The Times places the blame of the housing crash on testosterone fueled men. "The problem is that the market became too primal, too dominated by men and their baser instincts, too preoccupied with greed and too little with the consequences." Our opinion is that greed is not inherent to men. Greed is universal. Mr. Syed suggestion is to infuse the trading floors and boardrooms with more women. In your workplace do you see dominating, greedy, testosterone fueled men making poor decisions? It's an interesting topic of discussion. Source: http://women.timesonline.co.uk/tol/life_and_style/women/the_way_we_live/article4848188.ece
Bank Failures: Should You Be Worried?
With the US economy continuing to decline, people are looking for ways to better protect the value of their investments. Money is being shifted from one account to another as consumer confidence continues to erode; people are looking for financial security and stability during the current housing and credit crises. As a consumer should you also be worried about your bank or financial institution closing? An article in the USNews educates and prepares consumer on how to ensure their "money" is secure rather then focus on the chance their bank will fail. Should I be worried about my bank failing? For the most part, the answer is no, partly because it is nearly impossible to spot a failing bank, says banking consultant Bert Ely. "Almost no one should try to figure out whether or not their bank is going to fail. What they should do instead is to make sure their deposits are insured," Click HERE to read the whole article.
Merrill Lynch, Morgan Stanley Battle Independent Brokerages For Wealthy Investors
U.S. Bank Acquires FBOP Corporation’s 9 Failed Banking Subsidiaries
Assessing the Impact of the FDIC’s Temporary Liquidity Guarantee Program
FDIC Chairman Shelia Bair on The State of American Banking – Summary and Analysis
Citibank Credit Card Interest Skyrockets In Anticipation of Federal Regulation
Commerce Bank of Southwest Florida Fails, Becomes 123 Bank to Close in 2009
ING Direct Black Friday Special: Save ‘Til You Drop
Savers Left With Fewer Options as Hudson City Savings Lowers Top CD Rates
Wells Fargo Settles $1.4 Billion Lawsuit Regarding Auction-Rate Securities
‘Too Big To Fail’ Firms May Be Broken Down To Smaller Size
