Posted on 04/24/2010 10:55:01 AM PDT by george76
Regulators on Friday shut down seven banks in Illinois, putting the number of U.S. bank failures this year at 57.
The failure of Broadway Bank is expected to cost the FDIC's deposit insurance fund $394.3 million...Broadway Bank was owned by the family of Illinois Treasurer Alexi Giannoulias, a Democrat who is running for President Barack Obama's old Senate seat.
There were 140 bank failures in the U.S. last year, the highest annual tally since 1992 at the height of the savings and loan crisis. They cost the insurance fund more than $30 billion. Twenty-five banks failed in 2008 and only three succumbed in 2007.
(Excerpt) Read more at kansascity.com ...
Why are the people who run these failed banks not prosecuted? Look at what they are costing the taxpayers.
I predict Giannoulias will be forced off the ticket and a special state convention will be called to choose a new nominee.
thats what i would like to know...no one is taking them to court and we are not seeing any investigations...just notices that they are closing...shouldnt we get more info than this????????
I predict that you’re right except that nobody will bother with the special state convention. Although it would make a nice show.
Primaries? We don’t need no stinkin’ primaries.
You think ap has gotten the memo that their game of whitewashing the rats’ party when malfeasance in on their side has been exposed and they better shape up or loose all relevance?
If you run a bank into the ground and cost taxpayers $300 million, you should at least have to pay some of that from your own bank account. This guy is very wealthy isn’t he? How can this not cost him?
Prosecuted for what? The reason they are getting closed down is the borrowers aren't paying them back.
My bank was one of them.
They walked away with Millions! Him and his family!!
They prosecuted the ENRON creeps, Giannoulias should get that treatment too.
They should do what the Dems in New Jersey did when they replaced Torricelli with Lautenberg on the ticket. Is Carol Mosley Braun available?...(snicker, snicker)
None failed in 2006 and none failed in 2005.
I really miss Bush.
249 have been shut down since1-1-2000.
197 in the last 16 months.
The legislation NObama is trying to shove down our throats will shut down more banks. Where is YOUR 401 K???
I predict Giannoulias will be forced off the ticket and a special state convention will be called to choose a new nominee”
In Illinois, this only gives him more street cred......
Thanks for the list. It reads like a who’s who of easy loans.
how can that not cost him??? friends in high places ???
The Enron guys went to jail, why not these guys/
true..they should
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