Free Republic
Browse · Search
News/Activism
Topics · Post Article

Skip to comments.

Watchdog Faults FDIC On Georgia Bank Failure [FDIC failure to regulate led to loss]
Dow Jones ^ | 2009-08-14 | Michael R. Crittenden

Posted on 08/14/2009 10:11:11 AM PDT by rabscuttle385

WASHINGTON (Dow Jones) -- U.S. bank regulators waited too long to address problems at a Duluth, Ga.-based bank that failed last year and could cost the federal deposit insurance fund an estimated $207 million, government auditors said Monday.

The Office of Inspector General for the Federal Deposit Insurance Corp. said in a report that the agency's supervision of Haven Trust Bank was "not effective in identifying and addressing problems early enough."

"By the time supervisory actions were taken against the bank, failure was all but inevitable," the IG's office said in the report. Haven Trust failed last December.

(Excerpt) Read more at nasdaq.com ...


TOPICS: Business/Economy; Government; News/Current Events; US: Georgia
KEYWORDS: bank; bankfailure; banking; banks; fdic; financialcrisis; govwatch

1 posted on 08/14/2009 10:11:16 AM PDT by rabscuttle385
[ Post Reply | Private Reply | View Replies]

To: wafflehouse; Leisler; PAR35; TigerLikesRooster; AndyJackson; Thane_Banquo; nicksaunt; ...
*Ping!*
2 posted on 08/14/2009 10:11:45 AM PDT by rabscuttle385 (May God save the American Republic.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: rabscuttle385

Yeah...another town hall example Zero might want to use in his comparative analyses of govt. run enterprises and their successes...this is better than the Post Office...


3 posted on 08/14/2009 10:13:26 AM PDT by jessduntno (Privatization + Inter-State Sales + Individual Policies + Tort Reform = Healthcare Reform)
[ Post Reply | Private Reply | To 1 | View Replies]

To: rabscuttle385

sounds like we need ‘obama to the rescue’ ..... again


4 posted on 08/14/2009 10:16:48 AM PDT by malia
[ Post Reply | Private Reply | To 1 | View Replies]

To: rabscuttle385

lol watchdogs...

http://www.economicpolicyjournal.com/2009/08/does-david-rubenstein-own-elizabeth.html

http://www.businessinsider.com/how-many-banks-will-she-close-today-2009-8


5 posted on 08/14/2009 10:19:50 AM PDT by FromLori (FromLori)
[ Post Reply | Private Reply | To 1 | View Replies]

To: rabscuttle385

Friday really sneaks up on a person.


6 posted on 08/14/2009 11:31:22 AM PDT by The Duke ("Are you now or have you ever been a member of the Democrat Party?")
[ Post Reply | Private Reply | To 1 | View Replies]

To: rabscuttle385

Regulate? Sounds anti-business to me.


7 posted on 08/14/2009 11:35:12 AM PDT by Wolfie
[ Post Reply | Private Reply | To 1 | View Replies]

To: rabscuttle385

Wow! A throw back to The Failed Carter Administration©! More failed banks in Georgia!


8 posted on 08/14/2009 12:04:44 PM PDT by April Lexington (Study the constitution so you know what they are taking away!)
[ Post Reply | Private Reply | To 1 | View Replies]

Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.

Free Republic
Browse · Search
News/Activism
Topics · Post Article

FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson