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Banks Still Failing

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http://www.bloomberg.com/news/2010-09-18/six-u-s-banks-fail-as-georgia-lender-community-southern-acquires-three.html

Georgia’s Community & Southern Bank picked up $800 million in deposits as it acquired three of the six U.S. banks that collapsed this week, bringing the year’s failure count to 125.

Banks in Georgia, New Jersey, Ohio and Wisconsin were closed by regulators, according to statements posted yesterday on the website of the Federal Deposit Insurance Corp., which was named receiver. This week’s failures cost the agency’s deposit- insurance fund $347.6 million.

It's contained, except banks are still failing, but over here in Europe the story is different this time...

Anyone care to tell me why?

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Funny how all the little banks are allowed to fail. How much worse are these banks? No idea myself, not seen the numbers, but of course there is no way they are being pushed out to improve the books of the larger ones and too big to fails and those with the right connections?

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Calculated Risk has a FDIC Friday every week, with a haiku by Soylent Green.

US system has a much more varied system. Looks like the little guys are being drawn into the machine because of bad commercial real estate loans. Plus they can't compete with the favour shown to the big guys by the Fed.

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http://www.bloomberg...ires-three.html

Georgia's Community & Southern Bank picked up $800 million in deposits as it acquired three of the six U.S. banks that collapsed this week, bringing the year's failure count to 125.

Banks in Georgia, New Jersey, Ohio and Wisconsin were closed by regulators, according to statements posted yesterday on the website of the Federal Deposit Insurance Corp., which was named receiver. This week's failures cost the agency's deposit- insurance fund $347.6 million.

It's contained, except banks are still failing, but over here in Europe the story is different this time...

Anyone care to tell me why?

the problem is not the failures...its what without fail is found AFTER the failures...that the FDIC has to pay out at all...the balance sheets are found, WITHOUT FAIL, to be filled with LIES...LIES about asset valuations....

the same LIES are allowed throughout the banking sector......

the lies are the SALES value of the assets...ie, the market value is ignored, the LIE value is what they put on the balance cheat. Imagine the size of the LIE on a BIG Banks books...one that CREATES clever financial "Products" that are based on the very values of these assetts..Imagine a LIE leveraged 50 to 1 then multiplied with into a CDO based onthousands of such products, then that CDO sold again to a mega CDO squared.

the unreal world of the banking imaginary world is mind bogglingly short of money and assets.

This has not gone away. yet the MSM would tell us the banks are stable.

People think Banks are going to keep lending for ever. And these same people are the ones that need to buy the government debt, much of which is needed to PROP UP the people that need to buy government debt.

It is truly frightening to behold. Sodem and G'omorrah had nothing on the banking system.

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6 banks failed this weekend:

Maritime Savings Bank, West Allis, WI

Bramble Savings Bank, Milford, OH

The Peoples Bank, Winder, GA

First Commerce Community Bank, Douglasville, GA

Bank of Ellijay, Elijay, GA

ISN Bank, Cherry Hill, NJ

Still, everything's contained. Nothing to worry about.

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  • 259 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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