Failed Bank Information

[wevans]

On Friday, October 1, 2010, Wakulla Bank, Crawfordville, FL was closed by the Florida Office of Financial Regulation, and the Federal Deposit Insurance Corporation (FDIC) was named Receiver. No advance notice is given to the public when a financial institution is closed.
http://www.fdic.gov/bank/individual/failed/wakulla.html

[Tom Keels]

Actually I think there was plenty of warning. I heard about the investigations months ago.

[Jumptrout51]

What is the skuttle-butt Wevans?

[TallyFish]

The Tallahassee Democrat has a front page article this morning outlining details of the failure and takeover.

[Redbelly]

Buy metals, physically hold them

[Chalk]

No big deal we have had about 4 local bank chains taken over in Panama City

[Harmsway]

Too bad about Wakulla Bank. They have a great calendar with tides and feed times.

[Barhopr]

You can go to the FDIC web site and see the ratings of all banks. You could see it coming.

[FUTCHCAIRO]

MAN THAT IS TERRIBLE, SURE HOPE NOTHING LIKE THAT HAPPENS HERE I CAIRO.
PA THE OLD MAN OF THE SEA SEMPER FI

[big bend gyrene]

Yeah, like Chalk said, they're failing all over the place... especially since Obama killed business spending with his own spending spree/ever growing threat of increased taxes (and appreciating that Bush wasn't a fiscal conservative and that he got the ball rolling when it came to gooberment spending). The chart below says it all as to what Obama's doing to US... those footing his spending orgy.

God help our children and grandchildren who are going to inherit even more of the this mess than we are already witnessing. Some dark, dark times ahead even if the spending is slowed this November. Mark my word, someone truly responsible comes along and stops the insane spending for an ever-growing dependent population, and the press is going to make them out to be Satan over taking cell phones, satellite, and "free" mortgage money away. Going to take another great communicator to sell the masses on why we must stop selling our souls to our foes with our crazy liberal borrowing. But then again, what do I know... I've only helped U.S. businesses stay out of the red the past 20 years, helping over 1,000 people actually EARN a good living during that time.

Obama_deficits.gif (39.89 KiB) Viewed 3335 times

[bman]

Here is an interesting list of banks that are in trouble across the US.
http://bankimplode.com/list/troubledbanks.htm

I do not endorse everything on this site but they have some good info scattered in with the crackpot stuff.

[FUTCHCAIRO]

BBGYRENE, MAN YA NAILED IT RIGHT ON THE HEAD, WE HAVE TO TRIM THE WELFARE ROLLS AND GOBMENT GIVE AWAY PROGRAMS.
PA THE OLD MAN OF THE SEA SEMPER FI

[Quixote]

With all due respect BBG, Obama didn't have anything to do with Wakulla bank going under. Many banks, not just Wakulla wanted in on the "Easy" money from financing developers/developments and would actively search for developments to fund with little or no due delligence done on the viability of the prodjects. Many banks would get together with other banks to do what is called Participation loans, this was the undoing of many smaller banks. Participation loans are when a group of banks would get together and loan money to very large projects. This was seen as a "safety in numbers" strategy and a way for the smaller banks to play with the Big Boys and get a peice of their pie. All of that is fine a good until the joy ride stops and stop it did.

[big bend gyrene]

With all due respect, Quixote, he had a GREAT deal to do with it, as did the democratic party even during Bush's years (and preceding them truth be known).

Those "high risk" loans weren't that risky when times were good, now were they? And who was pushing them / actively encouraging them? The bleeding heart, illegal alien loving libs (and I have TONS of respect for LEGAL immigrants, but believe the word ILLEGAL should still mean something). The reason the failures are occurring now that the dems encouraged/paved the path for the failed investments, and now are killing business investment and re-investment, creating record unemployment, and record mortgage failures. And they only continue to push practices that are making matters worse.

Don't make me spend valuable time laying it out in greater detail... how about I let an article from the lib hot-spot of Boston do it for me (you'll note they say the seeds for the meltdown go back to Carter).
http://www.boston.com/bostonglobe/edito ... al_fiasco/

Like I said, someone's going to have to be mighty brave to make a dent in this mess, and Obama sure is NOT that person. No he's to busy encouraging today's lib rally, to counter the patriotic one held on 8/28, with folks forced to attend from groups like:

Green for All
Rainbow PUSH Coalition
SEIU
Chicago Democratic Socialists of America
Code Pink
Communist Party USA
Democratic Socialists of America
Gay, Lesbian and Straight Education Network
Gray Panthers
International Socialist Organization
Planned Parenthood
Ya Ya Network

The libs across the nation today must be so proud...

[big bend gyrene]

And if you don't appreciate the truth in the history leading up to the failure, Quixote, let me know as I've got some slightly boggy acreage I've been trying to sell that would be great for future development.