La Jolla (California) Bank one of Four that Failed Yesterday Bro, that La Jolla Bank was PRIMO. Just to the west of where I live, it was The Bank to the millionaires and billionaires in La Jolla, Greater San Diego and San Diego and Orange Counties in Southern California. Real Estate investments gone bad is what did the bank in. California continues to collapse at an alarming rate. Both San Diego and Los Angeles and six other cities in the state could declare bankruptcy any day now. Nobody wants to be first, but they all have to. Everything is collapsing across the country. Durable Good orders are way down from last quarter and all the quarters in the year before. Unemployment insurance claims have soared since September (All the while Obama and his band of crooks are saying that UI claims are going down and down and down. Lie after lie after lie after lie.) The Stock Market is in the Greatest Price to Earnings Bubble in American history, and Obama lets Goldman Sachs continue to use their machine trading program to run the market up even higher so that the payoff when it crashes is greater to the Big Banks. It will crash, but only when Goldman Sachs wants it to. What a mess this country is in.