Skip to comments.Many more banks closing than are being reported (small banks)
Posted on 11/24/2009 5:06:40 AM PST by MeneMeneTekelUpharsin
Many more small banks in several states are being closed than is being reported. The media is NOT reporting on the small banks being closed due to insolvency, only the big ones. Can't get the e-mail information since the bank which is reporting this information to its employees has closed the system and the e-mails can NOT be forwarded or printed.
If it is “many” banks in “several” states, then that would imply that those states would be mostly the ones with the worst exposure to the current housing market mess, wouldn’t it? If that is the case, would the Secretaries of State of California, Arizona, Florida and a couple of others be the ones to ask about this? They all have to maintain lists of corporations in their states.
Imploding bank news aggregator:
In other instances, a failing or endangered bank is taken over by another, stronger bank. These usually do not appear on the FDIC list but are announced by press releases that can be searched for on the internet.
Anybody can go to:
and find a link on their home web page to a complete list of failures that goes back several years. This info is not hidden, only deemed to be not newsworthy unless it is a fairly sizeable, well known bank.
The failed credit unions can be a bit harder to track down.
Yes, quite a bit more difficult to track down than the two separate links on the FDIC home page.
Ah, but the Internet is so much easier than the information digging I do from time to time: long and irregular hours, road travel, dealing with clerks and bureaucrats, poor index systems, and short deadlines.
Mah piggy bank done went bust.
You are correct. The amount of information that is now available at the click of a mouse is amazing. And a lot of what you used to have to fight a FOIA request for is routinely posted.
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