Home › Forums › Financial Markets/Economics › Tomorrow is Friday, which bank will the FDIC close?
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davelj.
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October 31, 2009 at 11:37 AM #476913October 31, 2009 at 12:23 PM #476094
davelj
Participant[quote=Allan from Fallbrook]Dave: Yeah, I saw an article yesterday about FDIC seizing assets at nine banks, the largest weekly number since the S&L Crisis, and that SDNB and CalNational were amongst them.
I did a lot of work with SDNB back in the day and its a shame to see them go under.
I get the sense that we’re nowhere near finished with this, however, and Bair at FDIC is looking increasingly embattled as the weeks wear on.[/quote]
My guesstimate is that we’ll see two more years of extremely elevated failure figures before they decline to drips and drabs. Painful but necessary.
October 31, 2009 at 12:23 PM #476269Participant[quote=Allan from Fallbrook]Dave: Yeah, I saw an article yesterday about FDIC seizing assets at nine banks, the largest weekly number since the S&L Crisis, and that SDNB and CalNational were amongst them.
I did a lot of work with SDNB back in the day and its a shame to see them go under.
I get the sense that we’re nowhere near finished with this, however, and Bair at FDIC is looking increasingly embattled as the weeks wear on.[/quote]
My guesstimate is that we’ll see two more years of extremely elevated failure figures before they decline to drips and drabs. Painful but necessary.
October 31, 2009 at 12:23 PM #476632Participant[quote=Allan from Fallbrook]Dave: Yeah, I saw an article yesterday about FDIC seizing assets at nine banks, the largest weekly number since the S&L Crisis, and that SDNB and CalNational were amongst them.
I did a lot of work with SDNB back in the day and its a shame to see them go under.
I get the sense that we’re nowhere near finished with this, however, and Bair at FDIC is looking increasingly embattled as the weeks wear on.[/quote]
My guesstimate is that we’ll see two more years of extremely elevated failure figures before they decline to drips and drabs. Painful but necessary.
October 31, 2009 at 12:23 PM #476708Participant[quote=Allan from Fallbrook]Dave: Yeah, I saw an article yesterday about FDIC seizing assets at nine banks, the largest weekly number since the S&L Crisis, and that SDNB and CalNational were amongst them.
I did a lot of work with SDNB back in the day and its a shame to see them go under.
I get the sense that we’re nowhere near finished with this, however, and Bair at FDIC is looking increasingly embattled as the weeks wear on.[/quote]
My guesstimate is that we’ll see two more years of extremely elevated failure figures before they decline to drips and drabs. Painful but necessary.
October 31, 2009 at 12:23 PM #476931Participant[quote=Allan from Fallbrook]Dave: Yeah, I saw an article yesterday about FDIC seizing assets at nine banks, the largest weekly number since the S&L Crisis, and that SDNB and CalNational were amongst them.
I did a lot of work with SDNB back in the day and its a shame to see them go under.
I get the sense that we’re nowhere near finished with this, however, and Bair at FDIC is looking increasingly embattled as the weeks wear on.[/quote]
My guesstimate is that we’ll see two more years of extremely elevated failure figures before they decline to drips and drabs. Painful but necessary.
October 31, 2009 at 12:42 PM #476104Allan from Fallbrook
Participant[quote=davelj]My guesstimate is that we’ll see two more years of extremely elevated failure figures before they decline to drips and drabs. Painful but necessary.[/quote]
Do you see any opportunities for investors, with the right pedigree, to possibly purchase some of these local banks that are going under?
Reason for the question, I have had some discussions with friends, regarding buying a bank. I understand that the group has to include members who are experienced in banking and have the requisite certifications and background, in order to secure the charter.
October 31, 2009 at 12:42 PM #476279Participant[quote=davelj]My guesstimate is that we’ll see two more years of extremely elevated failure figures before they decline to drips and drabs. Painful but necessary.[/quote]
Do you see any opportunities for investors, with the right pedigree, to possibly purchase some of these local banks that are going under?
Reason for the question, I have had some discussions with friends, regarding buying a bank. I understand that the group has to include members who are experienced in banking and have the requisite certifications and background, in order to secure the charter.
October 31, 2009 at 12:42 PM #476642Participant[quote=davelj]My guesstimate is that we’ll see two more years of extremely elevated failure figures before they decline to drips and drabs. Painful but necessary.[/quote]
Do you see any opportunities for investors, with the right pedigree, to possibly purchase some of these local banks that are going under?
Reason for the question, I have had some discussions with friends, regarding buying a bank. I understand that the group has to include members who are experienced in banking and have the requisite certifications and background, in order to secure the charter.
October 31, 2009 at 12:42 PM #476718Participant[quote=davelj]My guesstimate is that we’ll see two more years of extremely elevated failure figures before they decline to drips and drabs. Painful but necessary.[/quote]
Do you see any opportunities for investors, with the right pedigree, to possibly purchase some of these local banks that are going under?
Reason for the question, I have had some discussions with friends, regarding buying a bank. I understand that the group has to include members who are experienced in banking and have the requisite certifications and background, in order to secure the charter.
October 31, 2009 at 12:42 PM #476941Participant[quote=davelj]My guesstimate is that we’ll see two more years of extremely elevated failure figures before they decline to drips and drabs. Painful but necessary.[/quote]
Do you see any opportunities for investors, with the right pedigree, to possibly purchase some of these local banks that are going under?
Reason for the question, I have had some discussions with friends, regarding buying a bank. I understand that the group has to include members who are experienced in banking and have the requisite certifications and background, in order to secure the charter.
October 31, 2009 at 2:02 PM #476114drboom
Participant[quote=davelj]
I know you probably don’t care, but… your WestSide Bank in Hiram, Georgia looks a magnitude worse than SDNB.[/quote]FBOP won the race, but we knew both banks’ days were numbered.
As a (former, as of today) SDNB customer, this is a non-event. I had been expecting it, after all–FBOP’s problems have been well-documented over the past few months.
I wonder what’s going to happen to the whale painting?
October 31, 2009 at 2:02 PM #476289Participant[quote=davelj]
I know you probably don’t care, but… your WestSide Bank in Hiram, Georgia looks a magnitude worse than SDNB.[/quote]FBOP won the race, but we knew both banks’ days were numbered.
As a (former, as of today) SDNB customer, this is a non-event. I had been expecting it, after all–FBOP’s problems have been well-documented over the past few months.
I wonder what’s going to happen to the whale painting?
October 31, 2009 at 2:02 PM #476652Participant[quote=davelj]
I know you probably don’t care, but… your WestSide Bank in Hiram, Georgia looks a magnitude worse than SDNB.[/quote]FBOP won the race, but we knew both banks’ days were numbered.
As a (former, as of today) SDNB customer, this is a non-event. I had been expecting it, after all–FBOP’s problems have been well-documented over the past few months.
I wonder what’s going to happen to the whale painting?
October 31, 2009 at 2:02 PM #476728Participant[quote=davelj]
I know you probably don’t care, but… your WestSide Bank in Hiram, Georgia looks a magnitude worse than SDNB.[/quote]FBOP won the race, but we knew both banks’ days were numbered.
As a (former, as of today) SDNB customer, this is a non-event. I had been expecting it, after all–FBOP’s problems have been well-documented over the past few months.
I wonder what’s going to happen to the whale painting?
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