[seahorse]

Two more banks closed by the FDIC tonight. See the pattern I keep harping about? FDIC always closes banks on a Friday night after COB. Get your damn money out of the banks before Friday! Read the lessons learned from the ANB failure I posted back in March under the planning forum.

The two failed banks are the First National Bank of Nevada and The First Heritage Bank of Newport, CA.

FDIC homepage

Just when some Fed Dumbass was poo-pooing the idea that there would be any more bank failures. I wish I could find the link.

[copious.abundance]

Never heard of 'em.

*shrugs*

[Homesteader]

$this->bbcode_second_pass_quote('OilFinder2', 'N')ever heard of 'em.

*shrugs*

[seahorse]

$this->bbcode_second_pass_quote('OilFinder2', 'N')ever heard of 'em.

*shrugs*

[copious.abundance]

I'd heard of Indymac, but not the others. Not sure if Freddie and Fannie are actual "banks," but I suppose you could call them that if you wanted to.

This won't be the first time a bunch of banks have failed. And it won't be the last, either. Oh well.

[Homesteader]

Geez, I dunno SH, maybe we should stop feeding the troll.

[Tyler_JC]

We had hundreds of bank failures every year in the 1980s and 1990s.

The S&L Crisis. It cost taxpayers $150 billion over the course of the whole thing.

This crisis will probably cost of twice that when it's all said and done.

It sucks, but it's not the end of the world.

[seahorse]

$this->bbcode_second_pass_quote('', 'G')eez, I dunno SH, maybe we should stop feeding the troll.

[yesplease]

$this->bbcode_second_pass_quote('OilFinder2', 'T')his won't be the first time a bunch of banks have failed. And it won't be the last, either. Oh well.

[roccman]

$this->bbcode_second_pass_quote('Tyler_JC', '
')
This crisis will probably cost of twice that when it's all said and done.

[DantesPeak]

$this->bbcode_second_pass_quote('Tyler_JC', 'W')e had hundreds of bank failures every year in the 1980s and 1990s.

The S&L Crisis. It cost taxpayers $150 billion over the course of the whole thing.

This crisis will probably cost of twice that when it's all said and done.

It sucks, but it's not the end of the world.

[seahorse]

$this->bbcode_second_pass_quote('', 'T')he S&L Crisis. It cost taxpayers $150 billion over the course of the whole thing.

This crisis will probably cost of twice that when it's all said and done.

It sucks, but it's not the end of the world.

[heroineworshipper]

Fortunately we'll only be subsidizing houses in Nevada instead of those worthless $1 million shacks in Stockton. Those are the worst. Why does your government insist in making us subsidize worthless $1 million shacks Stockton when no-one out there can even afford a nanostudio apartment?

It's like living under Stalin and having to artificially sustain $1 million loafs of bread to protect the collectivization investors.

[yesplease]

$this->bbcode_second_pass_quote('seahorse', 'T')yler, your figures are way off. The bailouts began in 07. They have already costs over $400 billion dollars.

[seahorse]

Yesplease,

Now, I have to admit I'm not up on my history, but did Freddie and Fannie fail during the S&L crisis? Is this their first or second failure? If this is their second failure, then I apologize for waiving my arms. In that case, this will be just like the S&L crisis.

Also yesplease, I said Tyler's figures of losses at $150 billion were too low and should be $400 billion, but, in defending Tyler, you link me to an article showing I was way too low. Your article estimates losses at $600 billion.

$this->bbcode_second_pass_quote('', 'F')inancial firms will likely see their losses reach at least $600 billion as the crisis triggered by the collapse of subprime mortgages batters banks, brokers and insurers, UBS AG analysts said.

[Jotapay]

$this->bbcode_second_pass_quote('Homesteader', 'G')eez, I dunno SH, maybe we should stop feeding the troll.

$this->bbcode_second_pass_quote('seahorse', '')$this->bbcode_second_pass_quote('', 'G')eez, I dunno SH, maybe we should stop feeding the troll.

[Twilight]

seahorse, look on the bright side. This time it is his money, and as a foreigner I will be taking my cut.

[skeptik]

$this->bbcode_second_pass_quote('OilFinder2', 'I')'d heard of Indymac, but not the others. Not sure if Freddie and Fannie are actual "banks," but I suppose you could call them that if you wanted to.

This won't be the first time a bunch of banks have failed. And it won't be the last, either. Oh well.

[seahorse]

$this->bbcode_second_pass_quote('', 'I')'m actually doing these newcomers a favor, by giving them information contrary to the "we're dommed!" view so prevalent on this forum.