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Zarathustra Posts: 5961 Incept: 2009-04-29 Funkytown	5 banks closed yesterday. This could only mean ONE thing..... On Friday, July 20, 2012, Second Federal Savings and Loan Association of Chicago, Chicago, IL was closed by the Office of the Comptroller of the Currency, and the Federal Deposit Insurance Corporation (FDIC) was named Receiver. No advance notice is given to the public when a financial institution is closed. On Friday, July 20, 2012, Heartland Bank, Leawood, KS was closed by The Kansas Office of the State Bank Commissioner, and the Federal Deposit Insurance Corporation (FDIC) was named Receiver. No advance notice is given to the public when a financial institution is closed. On Friday, July 20, 2012, First Cherokee State Bank, Woodstock, GA was closed by the Georgia Department of Banking and Finance, and the Federal Deposit Insurance Corporation (FDIC) was named Receiver. No advance notice is given to the public when a financial institution is closed. On Friday, July 20, 2012, Georgia Trust Bank, Buford, GA was closed by the Georgia Department of Banking and Finance, and the Federal Deposit Insurance Corporation (FDIC) was named Receiver. No advance notice is given to the public when a financial institution is closed. On Friday, July 20, 2012, The Royal Palm Bank of Florida, Naples, 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. ---------- "And in knowing that you know nothing, that makes you the smartest of all." - Socrates 2012-07-21 08:43:03 Permalink
Rjazz117 Posts: 17802 Incept: 2007-09-11	Hm. Rally Monkey...THEN news...looks like the Monkey has an inside line. Is he working in the government? ---------- “To compel a man to subsidize with his taxes the propagation of ideas which he disbelieves and abhors is sinful and tyrannical.” Thomas Jefferson 2012-07-21 08:58:11 Permalink
Zarathustra Posts: 5961 Incept: 2009-04-29 Funkytown	The rally monkey is back and refreshed. Fear the Rally Monkey.... ---------- "And in knowing that you know nothing, that makes you the smartest of all." - Socrates 2012-07-21 09:00:43 Permalink
Genesis Posts: 130796 Incept: 2007-06-26	The reflated Rally Money lives! (I like Lootie better...) ---------- I don't care* if it makes sense -- only if it makes money. -- Me* Bank (n): See scam, fraud and theft. *Eat a bankster -- they're low-carb.* *What part of "shall not be infringed" was unclear?* Last modified: 2012-07-21 13:04:31 by genesis 2012-07-21 13:04:16 Permalink
Nuke_engineer Posts: 2700 Incept: 2007-08-19	It's interesting to see that the FDIC hasn't appointed other banks to take over as is the case usually. The FDIC has remained the receiver. This is an ominous sign to me if on Monday other banks haven't picked up the pieces. Could that mean that there are no banks in the region still fit to pick up the failed institutions? ---------- Trading and investing is understanding about people, emotions and corruption of government, corporations, banks and people using propaganda, lies, mathematics and bankster logic working against you. 2012-07-21 13:43:00 Permalink
Genesis Posts: 130796 Incept: 2007-06-26	It means none of them want them. ---------- I don't care* if it makes sense -- only if it makes money. -- Me* Bank (n): See scam, fraud and theft. *Eat a bankster -- they're low-carb.* *What part of "shall not be infringed" was unclear?* 2012-07-21 13:46:36 Permalink
Asimov Posts: 104065 Incept: 2007-08-26 East Tennessee Eastern Time	Just getting worse and worse. ---------- It's justifiably immoral to deal morally with an immoral entity. If you trade based on what other people say, you will lose money. Especially what I say. I won't be held responsible. Festina lente. 2012-07-21 14:04:12 Permalink
Andysvw Posts: 1753 Incept: 2010-06-26 Tujunga Ca Online	Nuke nice catch. I would have missed that. Will that give control of the banks vault to our government? 2012-07-21 14:07:42 Permalink
Lodgerhead Posts: 559 Incept: 2008-08-26 NC	Normally the FDIC keeps adding sweeteners to the turd until another back will eat it. Could it be that the FDIC is plum out of sugar? 2012-07-21 14:12:28 Permalink
Andysvw Posts: 1753 Incept: 2010-06-26 Tujunga Ca Online	One thing that keeps me up at night is. If they are toast on cooked books how bad are the off book books. One of these banks is going to eat it on a massive scale. A bank that some county does all its banking thru? The FDIC wont know until its way too late. Please keep in mind I dont know what im talking about. 2012-07-21 14:38:25 Permalink
Passivesf Posts: 5495 Incept: 2008-02-01	Agreed Andy, or one or two of the big five banks/hedge funds say oh **** sorry guys bad trade, we are closing shop. ---------- "Banking institutions are more dangerous to our liberties than standing armies. The issuing power of currency should be taken from central banks and restored to the people, to whom it properly belongs" 2012-07-21 16:33:26 From PDA Permalink
Zarathustra Posts: 5961 Incept: 2009-04-29 Funkytown	I agree, Karl. Lootie just sums up the schit we're about to face. The Rally Monkey is just a metaphor for the fake markets.... ---------- "And in knowing that you know nothing, that makes you the smartest of all." - Socrates 2012-07-21 18:45:45 Permalink
Lenovot60 Posts: 1659 Incept: 2007-11-15 Southern Cal.	Banks closure have been diminished as FDIC been facilitating sales of weaker banks to stronger banks with incentives / guarantees. When no takers, take down happens... ---------- 'Unwinding stimulus policies would be like putting toothpaste back into the tube' - Alexei Kudrin, Russia's finance minister 2012-07-21 19:24:54 Permalink
Aliveh Posts: 4047 Incept: 2008-01-18 Los Angeles	FDIC has been taking political heat for giving "sweetheart deals" to banks taking over failed banks (e.g., the 80/20 loss-sharing agreements)... I've heard FDIC isn't giving those kinds of deals anymore FWIW... 2012-07-21 22:31:51 Permalink
Lenovot60 Posts: 1659 Incept: 2007-11-15 Southern Cal.	Sweetheart Deals still there...otherwise, banks will not rush to buy other banks. They just call it something else. Is better to have banks merge (buyout) than closed down...stigma. ---------- 'Unwinding stimulus policies would be like putting toothpaste back into the tube' - Alexei Kudrin, Russia's finance minister 2012-07-21 22:44:48 Permalink
Zarathustra Posts: 5961 Incept: 2009-04-29 Funkytown	Thankfully, the economy is roaring again and the banks are healthy and vibrant... ---------- "And in knowing that you know nothing, that makes you the smartest of all." - Socrates 2012-07-22 00:25:14 From PDA Permalink
Genesis Posts: 130796 Incept: 2007-06-26	And Jamie is carrying all that beer.... ---------- I don't care* if it makes sense -- only if it makes money. -- Me* Bank (n): See scam, fraud and theft. *Eat a bankster -- they're low-carb.* *What part of "shall not be infringed" was unclear?* 2012-07-22 00:26:25 Permalink
Ponzi_unit Posts: 8116 Incept: 2007-09-05	Gramps does not approve of this celebration... ---------- Taxpayers witnessed a crime and stayed around long enough to get charged with it. 2012-07-22 08:37:40 Permalink