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Old 08-29-2009, 12:21 AM   #15
Avalon Senior Member
Join Date: Sep 2008
Location: Turtle Island
Posts: 2,776
Default Re: Colonial Bank Goes Bust

Originally Posted by Steve_A View Post
Hi Everyone,

It seems that the crisis is a little more severe than first thought. The list of probable faliures in banks led to around 245 banks being identified according to the information from the link I posted in a previous message.

The FDIC has a different view. It puts the figure at 416 banks that are under scrutiny - almost double. That must mean surely that the initial 245 banks that were under scrutiny before this latest release of information must be in really dire straits.

Keep your heads up and your money in a safe place, like under your mattress!

Check out the story:

Best regards,


Blessings Steve,

Here are yet greater and more daunting figures.

1,000 Banks to Fail In Next Two Years: Bank CEO

Published: Thursday, 27 Aug 2009
By: Natalie Erlich

The US banking system will lose some 1,000 institutions over the next two years, said John Kanas, whose private equity firm bought BankUnited of Florida in May.

“We’ve already lost 81 this year,” Kanas told CNBC. “The numbers are climbing every day. Many of these institutions nobody’s ever heard of. They're smaller companies.” (See the accompanying video for the complete interview.)

VIDEO (8:05) and SOURCE:

Another safe place to keep cash is in your septic tank in a sealed container suspended near the cover!!!

Last edited by peaceandlove; 08-29-2009 at 12:47 AM.
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