Regulators Close Two More National Banks

[Manuel]

First National Bank of Nevada and First Heritage Bank were closed by U.S. regulators yesterday, the first institutions to fail since regulators seized IndyMac Bancorp two weeks ago following a run by depositors.

First National Bank of Nevada, with $3.4 billion in assets, and California-based First Heritage Bank, which had $254 million in assets, were undercapitalized, the Office of the Comptroller of the Currency said last night in a statement. Mutual of Omaha Bank acquired their deposits, according to the Federal Deposit Insurance Corp., which was named the receiver.

Regulators Close Two More National Banks - washingtonpost.com

 

[Charles_Main]

We must balance the budget!! It is the root of all of these problems. Cut spend now!!!!!!!!

 

[Paulie]

All I have to say is you better inquire to your bank about what exists on their balance sheet. If your bank is heavy in derivatives, you are a FOOL for keeping your money there.

Don't say you weren't warned.

 

[Voltaire]

Sticky: If you're looking for a SAFE BANK, read this

That's a link to a thread on another message board with some great advice on figuring out if your bank is in trouble, in case you're interested. Which you should be. It's your money at stake after all.

 

[CA95380]

"California-based First Heritage Bank" ... heard about it on local news today. We live in a fairly small town in Central CA .... Modesto ... is the closest 'larger' city to us. There have been several major car dealers shut down there within the last month.

It is getting bad. And a lot of people choose to bury their heads in the sand like an ostrich. They just don't get it .... yet!

 

[Orange_Juice]

The right will want to forget as soon as possible that Socialism is being used to bail out capitalism here.

 

[AllieBaba]

Oh please. If it weren't for socialism, the banks wouldn't be failing.

Quick, everybody...spend, spend, spend! Save our economy!

 

[Paulie]

Oh please. If it weren't for socialism, the banks wouldn't be failing.

What socialism? The socialism that is being used to bail them out at taxpayer expense? Come on Babble, let's see what you got here. You made the claim, now let's see exactly what socialism you're referring to that has caused this financial meltdown.

I'm all eyes.