Posted on 08/29/2009 8:11:34 AM PDT by FromLori
Edited on 08/29/2009 8:13:44 AM PDT by Admin Moderator. [history]
The largest of Friday's three closures announced by the Federal Deposit Insurance Corp. was Affinity Bank, based in Ventura, Calif.
Affinity, which had total assets of $1 billion, deposits of $922 million and 10 branches in Northern and Southern California as of July 10, will be taken over by San Diego-based Pacific Western Bank, the FDIC announced.
(Excerpt) Read more at marketwatch.com ...
I wonder if these are US Treasury ‘take overs’ cause they can or true bank failures!
. .failure will cost the deposit-insurance fund $95 million=that really means us!
Glad to see some people understand that the US in the U.S. Government does indeed mean us!
lol you might like this video
http://bluelori.blogspot.com/2009/08/government-can.html
I would be surprised if the MSM didn’t spin this as an improvement over the past 2 weeks, when 4 banks failed on each. That, and the “better than expected” nonsense they keep trotting out.
Banks pay into that fund. Taxpayers do not.
Oh, I forgot to mention that this $10.4 billion is there to backup $6.2 trillion in U.S. deposits!
Yes, bank failures deplete the pool of money. Banks will pay higher annual assessments as well as special assessments for years, until the money is replenished.
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