Monday, Jul 28, 2008
Another two US Banks go bust.
TimesOnline: Two more US banks collapse as defaults soar
So another two banks in the US go bust this week, it should now only be another two months before the CDS fiasco failures start to occur in the UK. Its appears that Financial authorities in Washington spent last week securing a rescue deal for two insolvent mortgage lenders in Nevada and California amid the latest signs that America's banking crisis is deepening. The collapse of the two banks - which had combined assets of about $3.6 billion (£1.8 billion) - came as a senior financial regulator told The Times that there was no end in sight for the crisis gripping the banking industry.
Posted by scoobydooby @ 08:31 AM (237 views) Add Comment
2 Comments
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1. paul said...
Wow. These aren't the same two from late last week but two more! They are dropping like flies after feasting on ermm ...
First National Bank of Nevada and First Heritage Bank in California
2. Whostolemyendowment said...
Meltdown continues at a pace....
From implode-o-meter
http://ml-implode.com/staticnews/2008-07-25_USregulatorsseizetwomorebanksengineersale.html
http://ml-implode.com/imploded/lender_FirstNationalBankofArizona_2007-08-21.html