U.S. Bank Failures

Arizona Coin Collector

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Feb 21, 2009, 9:46:41 AM2/21/09

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Hello

I have been tracking the number of U.S. BANKS that have
failed and was taken over by FDIC for 2009. As of
02/20/09, a total of 14 banks have failed this year.

http://www.fdic.gov/news/news/press/2009/index.html

For all of the year 2008, 25-banks failed.

I am guessing a 100 banks fail in 2009 at the current
rate.

Mr. Jaggers

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Feb 21, 2009, 9:57:12 AM2/21/09

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"Experts" do indeed predict additional bank failures for 2009, some even by
name. But to extrapolate the entire year based on its first 51 days is
rather presumptuous, wouldn't ya say? Predictive statistics don't work that
way. Better to wait until Dec. 31 and inform us of how many actually did
fail.

James

oly

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Feb 21, 2009, 10:08:50 AM2/21/09

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Actually, when I looked at FDIC.gov last night (as I do most Friday
nights), I was surprised not to see the name of a certain bank.

The fact that the FDIC doesn't have enough experienced liquidators/
experienced personnal is the only thing keeping a considerable number
of small and medium-sized banks open right now.

oly

Mr. Jaggers

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Feb 21, 2009, 10:20:07 AM2/21/09

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If those banks have failed, how can they stay open at all? Or does FDIC
have a "solvency level below which" it will shut them down?

James

RWF

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Feb 21, 2009, 10:23:26 AM2/21/09

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I can recall in the late 1970s we had stagflation, rising PM prices and
bank failures.
The republic survived.
The republic will continue to survive although there is a rough patch of
road ahead.
There will be high inflation (but not hyperinflation) as the gubmint
continues to try to spend its way out of recession.
There will be failures of large corporations (GM and Chrysler are
teetering on the brink right now - my bet is GM will survive as a
smaller corporation and Chrysler will go the way of Studebaker).
Personally I feel that some businesses and banks should be allowed to
fail and the gubmint should back off with all the bailouts and let
economic nature take its course.
BO's latest plan to rescue mortgages is a boondoggle that rewars
imbeciles who bought houses they couldn't afford. My opinion: fuck 'em -
let them lose their houses.

oly

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Feb 21, 2009, 10:33:29 AM2/21/09

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> James- Hide quoted text -
>
> - Show quoted text -

Lacking capital, or being insolvent, doesn't immediately kill an
institution. Most people won't panic because they trust the FDIC!!!

Lacking cash or near cash assets can be immediately fatal to a
financial institution. You must have cash and funds with other
correspondent banks to meet local customer demands for cash. You must
be able to honor checks and drafts and wires when they are presented
to you for daily collections.

Problem institutions do tend to rack up greater losses the longer they
remain open, so the FDIC does try to do things on a timely basis.
Banking (especially lending) is an art too, not an exact science,

oly

Mr. Jaggers

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Feb 21, 2009, 10:46:27 AM2/21/09

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My guess is that JMcC would be messing around with the economy just as BO
is, just in a different way or to a different degree, had he won. Then his
detractors would be saying similar things about his plan. "We've already
determined what kind of lad you are, Mr. President..."

James

Mr. Jaggers

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Feb 21, 2009, 10:48:43 AM2/21/09

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To me, the whole industry is a shell game, but I play it anyway, lacking any
viable alternative.

James

Bruce Remick

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Feb 21, 2009, 10:54:53 AM2/21/09

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"Arizona Coin Collector" <nos...@nospam.com> wrote in message
news:fd2dnfFWPJBIjj3U...@earthlink.com...

When gasoline reached $4.00+ per gallon last summer, were you predicting
$1.55 per gallon six months later? Or is your expertise just banks? My
BB&T stock is down to about $14 from $40 a year or so ago. Analysts claim
that BB&T isn't among those in serious trouble from shaky loans. Should I
buy more shares. Whisper, so others here don't jump first and drive the
price up too soon.

PC

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Feb 21, 2009, 12:36:28 PM2/21/09

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"RWF" <R...@200902.invalid> wrote in message
news:gnp69g$nf8$1...@reader.motzarella.org...

> BO's latest plan to rescue mortgages is a boondoggle that rewars imbeciles
> who bought houses they couldn't afford. My opinion: fuck 'em - let them
> lose their houses.
>

My you certainly have a talent for spouting misinformation right on the
heels of facts coming out that proves the opposite of your ignorant
rhetoric. Or are you merely trolling?

Bob Johnson

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Feb 21, 2009, 1:54:52 PM2/21/09

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On Sat, 21 Feb 2009 07:46:41 -0700, "Arizona Coin Collector"
<nos...@nospam.com> wrote:

>I am guessing a 100 banks fail in 2009 at the current
>rate.

Seems quite possible. Here's a nice table:
http://www.fdic.gov/bank/individual/failed/banklist.html

Best Regards, Bob Johnson

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Arizona Coin Collector

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Feb 21, 2009, 3:39:07 PM2/21/09

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"Bob Johnson" <gold...@gmail.com> wrote in message
news:n8j0q45n0ulhugio4...@4ax.com...

Thank you for the link above! Notice 11 banks total in 2002 and
non for the year 2006.

Bob Johnson

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Feb 21, 2009, 8:02:31 PM2/21/09

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On Sat, 21 Feb 2009 13:39:07 -0700, "Arizona Coin Collector"
<nos...@nospam.com> wrote:

>Thank you for the link above! Notice 11 banks total in 2002 and
>non for the year 2006.

Here's a nice chart (only into mid-2008, however)
http://www.calculatedriskblog.com/2008/07/coming-bank-failures.html

Best Regards.
Bob Johnson
http://www.coinsheetlinks.com