Bank Failure Friday: Nine Banks, One Big Failure 10/31

peaceandlove · 10-31-2009, 05:27 PM

Bank Failure Friday: Nine Banks, One Big Failure

by Paul Kiel, ProPublica - October 31, 2009 10:26 am EDT

On the one hand, yesterday was just another Friday. Nine more banks failed, bringing the year’s toll to 115. As always, our big list has been updated.

But yesterday was also a bit different, because all nine banks were subsidiaries of the same company, FBOP Corporation. US Bank of Minnesota gobbled up all of FBOP’s deposits and almost all of its assets.

All together, FBOP was sizable bank-holding company, the 46th biggest in the country, according to the Federal Reserve. It had $19.4 billion in assets as of September 30.

Continues: http://www.propublica.org/ion/bailou...g-failure-1031
Eye on the Bailout....Recipients, Programs, Timeline, Bailout Map...same link

SOURCE: http://st0ckman.blogspot.com/2009/10...s-one-big.html

SEE ALSO STEVE A's Thread: Colonial Bank Goes Bust http://projectavalon.net/forum/showt...=colonial+bank

10-31-2009, 05:27 PM	#1
peaceandlove Avalon Senior Member Join Date: Sep 2008 Location: Turtle Island Posts: 2,776	Bank Failure Friday: Nine Banks, One Big Failure 10/31 Bank Failure Friday: Nine Banks, One Big Failure by Paul Kiel, ProPublica - October 31, 2009 10:26 am EDT On the one hand, yesterday was just another Friday. Nine more banks failed, bringing the year’s toll to 115. As always, our big list has been updated. But yesterday was also a bit different, because all nine banks were subsidiaries of the same company, FBOP Corporation. US Bank of Minnesota gobbled up all of FBOP’s deposits and almost all of its assets. All together, FBOP was sizable bank-holding company, the 46th biggest in the country, according to the Federal Reserve. It had $19.4 billion in assets as of September 30. Continues: http://www.propublica.org/ion/bailou...g-failure-1031 Eye on the Bailout....Recipients, Programs, Timeline, Bailout Map...same link SOURCE: http://st0ckman.blogspot.com/2009/10...s-one-big.html SEE ALSO STEVE A's Thread: Colonial Bank Goes Bust http://projectavalon.net/forum/showt...=colonial+bank Last edited by peaceandlove; 01-27-2010 at 04:43 PM.