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Posts Tagged ‘FDIC’

The FDIC’s failed bank list shows all FDIC-insured banks that have failed since October 1, 2000.

As of Sunday, July 18, 2010, there are a total of 297 reported failed banks.

255 of those 297 failures have been since the September 15, 2008 Lehman Brothers bankruptcy.

However, the FDIC’s failed bank list only paints part of the picture.

As of March 5, 2009, the FDIC reported a total of 8284 insured institutions.

As of July 15, 2010, the FDIC reported a total of 7836 insured institutions.

Therefore, a total of 448 institutions have failed, closed, or been acquired since March 5, 2009 — representing 5.4% of the insured banks on March 5, 2009.

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The Federal Deposit Insurance Corporation (FDIC) reports the following information as of April 7, 2010:

FDIC-insured institutions: 7953 (as of April 1, 2010) – down by 331 or 4% since the end of 2008
Total assets: $13,132,190,000,000 (as of December 31, 2009) – down by $773.769 billion or 5.6%
Total deposits: $9,242,378,000,000 (as of December 31, 2009) – up by $173.192 billion or 1.9%

Here are their numbers for 2008.

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See http://www.fdic.gov/about/learn/learning/when/2000s.html.

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Several sources, including this one, indicate that Michael Moore has a net worth of over $50 million.

On Saturday, September 26, 2009, CNN had an encore presentation of a recent interview with Michael Moore on Larry King Live. In it, Moore said:

‘No money in Switzerland. I don’t own a share of stock. I have no money in the stock market. My money is in pretty much a savings account and savings bonds, those kinds of things. But –”

Savings accounts and savings bonds are currently only insured up to “$250,000 per deposit, per insured bank,” up until December 31, 2013, at which point it will decrease to $100,000.

Either Michael Moore is foolish, has additional private insurance, or has most of his money distributed over 200+ banks. If it’s the latter, then by January 1, 2014, he’ll have to distribute his money over 500+ banks. If he’s foolish, then he can kiss most of his money goodbye if there is a repeat of the 5000+ bank failures from 1929-1932.

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The Federal Deposit Insurance Corporation (FDIC) reports the following information as of March 7, 2009:

FDIC-insured institutions: 8284 (as of March 5, 2009)
Total assets: $13,905,959,000,000 (as of December 31, 2008)
Total deposits: $9,069,186,000,000 (as of December 31, 2008)

http://www2.fdic.gov/idasp/index.asp

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The Federal Deposit Insurance Corporation (FDIC) reports the number and names of banks it insures or has insured that have failed since October 1, 2000.

from October 1, 2000 to December 31, 2007: 27
since January 1, 2008: 41 and counting

http://www.fdic.gov/bank/individual/failed/banklist.html

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