http://cnnmoneytalkback.blogs.cnnmoney.cnn.com/2008/05/12/get-ready-for-more-bank-failures/ CNNMoney.com Talkback Tue, 24 Nov 2009 15:32:36 +0000 http://wordpress.com/ hourly 1 http://cnnmoneytalkback.blogs.cnnmoney.cnn.com/2008/05/12/get-ready-for-more-bank-failures/#comment-15689 JB, Baltimore MD Thu, 22 May 2008 01:44:26 +0000 http://cnnmoneytalkback.wordpress.com/?p=90#comment-15689 I've heard of this bank- I had money in an ANB brokered CD. Brokered CDs, which have recently become popular, are FDIC insured- but it's going to take 4-6 weeks for me to get my money back. In the meantime I'm sweating. This is the first article I've seen to specifically mention the brokered CD issue. I don't think that this bank failure got <i>enough</i> media coverage. This is only the beginning. I'd like to know what banks are on the FDIC problem list too, but that's confidential. There's only two bank rating companies that I know of, and for the better one you need to pay for the info. I’ve heard of this bank- I had money in an ANB brokered CD. Brokered CDs, which have recently become popular, are FDIC insured- but it’s going to take 4-6 weeks for me to get my money back. In the meantime I’m sweating. This is the first article I’ve seen to specifically mention the brokered CD issue. I don’t think that this bank failure got enough media coverage. This is only the beginning. I’d like to know what banks are on the FDIC problem list too, but that’s confidential. There’s only two bank rating companies that I know of, and for the better one you need to pay for the info.

]]> http://cnnmoneytalkback.blogs.cnnmoney.cnn.com/2008/05/12/get-ready-for-more-bank-failures/#comment-13902 Mike, Redwood City, CA Thu, 15 May 2008 17:17:37 +0000 http://cnnmoneytalkback.wordpress.com/?p=90#comment-13902 Yes. An orderly shutdown of a failed bank is a better outcome than letting it grimly soldier on. It keeps the healthy banks healthier. Yes. An orderly shutdown of a failed bank is a better outcome than letting it grimly soldier on. It keeps the healthy banks healthier.

]]> http://cnnmoneytalkback.blogs.cnnmoney.cnn.com/2008/05/12/get-ready-for-more-bank-failures/#comment-13839 Vito Z, Bloomfield,NJ Tue, 13 May 2008 00:41:18 +0000 http://cnnmoneytalkback.wordpress.com/?p=90#comment-13839 Dave in TN: Don't bother. I mentioned that bill over three months ago in a blog, and so far the Republicans (of which I am one) only see fit to deregulate banks so they can do what the Bill forbade after the Great Depression. Never let the financial system expand to practices which are inherentely (sic) catastrophic. Banks whine that they have to front more reserves, but in the past decade, they have collectively whittled these reserves by half to increase profit margins. Sorry, a bank is not a casino. And while I'm on the subject, a dollar bill is not Monopoly (R) money, so the Fed had better learn not to throw it willy-nilly at the latest implosion,lest the "trickle-down" prosperity it hopes to induce falls flat. Everone crucified Hoover in 1932, but read "Papers of the Presidents" for an eye-opening education of his remarkable dollar-staving, in the midst of an unstable market,a gold-hoarding society, a real-estate-recession, and a hostile business climate. Dave in TN: Don’t bother. I mentioned that bill over three months ago in a blog, and so far the Republicans (of which I am one) only see fit to deregulate banks so they can do what the Bill forbade after the Great Depression. Never let the financial system expand to practices which are inherentely (sic) catastrophic. Banks whine that they have to front more reserves, but in the past decade, they have collectively whittled these reserves by half to increase profit margins. Sorry, a bank is not a casino. And while I’m on the subject, a dollar bill is not Monopoly (R) money, so the Fed had better learn not to throw it willy-nilly at the latest implosion,lest the “trickle-down”
prosperity it hopes to induce falls flat. Everone crucified Hoover in 1932, but read “Papers of the Presidents” for an eye-opening education of his remarkable dollar-staving, in the midst of an unstable market,a gold-hoarding society, a real-estate-recession, and a hostile business climate.

]]> http://cnnmoneytalkback.blogs.cnnmoney.cnn.com/2008/05/12/get-ready-for-more-bank-failures/#comment-13829 Dave R. Nashville, TN Mon, 12 May 2008 20:07:57 +0000 http://cnnmoneytalkback.wordpress.com/?p=90#comment-13829 If the institution has the word Bank in it, it is leveraged, normally. they seem to treat banks differently and not with an even hand or level palying field in the regulatory framework. please review glass steagal repeal in wikipedia and much of your questions may be answered. If the institution has the word Bank in it, it is leveraged, normally. they seem to treat banks differently and not with an even hand or level palying field in the regulatory framework. please review glass steagal repeal in wikipedia and much of your questions may be answered.

]]> http://cnnmoneytalkback.blogs.cnnmoney.cnn.com/2008/05/12/get-ready-for-more-bank-failures/#comment-13825 Bret, SLC, UT Mon, 12 May 2008 18:51:25 +0000 http://cnnmoneytalkback.wordpress.com/?p=90#comment-13825 How can we find a list of problem banks the FDIC is watching? How can we find a list of problem banks the FDIC is watching?

]]> http://cnnmoneytalkback.blogs.cnnmoney.cnn.com/2008/05/12/get-ready-for-more-bank-failures/#comment-13823 Mike, Portland, OR Mon, 12 May 2008 17:05:13 +0000 http://cnnmoneytalkback.wordpress.com/?p=90#comment-13823 I usually tend to agree with all the doomy-gloomy scenarios, but hey, let's see the bright side of it and how we can benefit from the banking industry problems. It definitely looks like the banks are still hungry for the money. Even though Fed lowered the key rate to 2%, one can easily find some %5 or better deals for CDs or temporary promotions, etc. And, if bank fails, here is your FDIC check! We've also seen some attractive preferred stock offerings recently. I think, it's a right path. And, if stock market falls again - even better, maybe we will finally see some affordable companies in Financial or other areas paying juicy dividends. Yeah, something they forgot how to do. In other words, maybe they will finally start WORKING for the investors money instead of selling bubbling shares, fudging books and then impressing everybody with the fake earnings. I usually tend to agree with all the doomy-gloomy scenarios, but hey, let’s see the bright side of it and how we can benefit from the banking industry problems.
It definitely looks like the banks are still hungry for the money. Even though Fed lowered the key rate to 2%, one can easily find some %5 or better deals for CDs or temporary promotions, etc. And, if bank fails, here is your FDIC check!
We’ve also seen some attractive preferred stock offerings recently. I think, it’s a right path. And, if stock market falls again – even better, maybe we will finally see some affordable companies in Financial or other areas paying juicy dividends. Yeah, something they forgot how to do. In other words, maybe they will finally start WORKING for the investors money instead of selling bubbling shares, fudging books and then impressing everybody with the fake earnings.

]]> http://cnnmoneytalkback.blogs.cnnmoney.cnn.com/2008/05/12/get-ready-for-more-bank-failures/#comment-13821 Mike from NYC Mon, 12 May 2008 15:40:10 +0000 http://cnnmoneytalkback.wordpress.com/?p=90#comment-13821 I wouldn't be surprised to see a lot more smaller banks collapse from their real estate lending practices. This has been reported on by several pundits when Bear Stearns collapsed. I wouldn’t be surprised to see a lot more smaller banks collapse from their real estate lending practices. This has been reported on by several pundits when Bear Stearns collapsed.

]]> http://cnnmoneytalkback.blogs.cnnmoney.cnn.com/2008/05/12/get-ready-for-more-bank-failures/#comment-13820 David, Charlotte NC Mon, 12 May 2008 15:37:56 +0000 http://cnnmoneytalkback.wordpress.com/?p=90#comment-13820 I wish the media would stop freaking everyone out just to get a good headline. So 3 little banks failed in past 6 months? That if anything is a pretty good sign that we aren't going to have serious problems. I mean here we are in what the media would have you believe is an economic threaten to rival the great depression and only 3 banks you've never heard of fail in the worst 6 months of it? Please write stories that help us be better investors, not stories that try to freak us out so you can get a high click rating. I wish the media would stop freaking everyone out just to get a good headline. So 3 little banks failed in past 6 months? That if anything is a pretty good sign that we aren’t going to have serious problems. I mean here we are in what the media would have you believe is an economic threaten to rival the great depression and only 3 banks you’ve never heard of fail in the worst 6 months of it? Please write stories that help us be better investors, not stories that try to freak us out so you can get a high click rating.

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