Karzai's brother calls for U.S. to shore up Kabul Bank as withdrawals accelerate
Posted by admin / Under Bank Run
As depositors thronged branches of Afghanistan's biggest bank, Mahmoud Karzai, the brother of the Afghan president and a major shareholder in beleaguered Kabul Bank called on Thursday for intervention by the United States to head off a financial meltdown. "America should do something," said Karzai in a telephone interview, suggesting that the U.S. Treasury Department guarantee the funds of Kabul Bank's clients, who number about a million and have more than a billion dollars on deposits with the bank. Kabul Bank handles salary payments for soldiers, police and teachers. It has scores of branches across Afghanistan and holds the accounts...
Published on Monday 6th of September 2010 10:37:26 AM
The Federal Reserve Wants To Hide 'Bad Lemon' Banks For Another Three Months
Posted by admin / Under Bank Run
The Federal Reserve has asked a U.S. appeals court to delay disclosure of emergency lending provided to banks during the crisis... Is the financial system still not strong enough for the market to know the truth? The view seems to be that we're not ready. Thing is, longer-term the markets would probably be better off if they weren't denied this basic information -- Such as which banks received more or less support from the government ...
Published on Monday 6th of September 2010 10:37:26 AM
Unofficial Problem Bank List increases to 840 institutions
Posted by admin / Under Bank Run
The Unofficial Problem Bank List grew by more than five percent this week as the FDIC released its enforcement actions for July 2010. This week, there were 28 additions and 5 removals. Also, the list was updated to reflect assets as of the second quarter. For institutions on the list since the first quarter, aggregate assets declined by $13.9 billion... Among the 28 additions are TIB Bank, Naples, FL ...Geographically, the additions include 5 institutions from Illinois, 4 from Florida, and 3 from Minnesota. Next week, the FDIC likely will release the Official Problem Bank List as of June 30th.
Published on Monday 6th of September 2010 10:37:26 AM
Chappell Hill Bank Allows Customers to Carry Guns Inside(TX)
Posted by admin / Under Bank Run
A bank in Chappell Hill is taking the second amendment out of the vault by letting their customers carry guns inside. At first glance, you might not notice anything unusual about the Washington County bank, but take a closer look. "If you've got a handgun carry license I don't have any problem at all and I encourage you to bring it in the bank," Chappell Hill Bank President Edward Smith said. Chappell Hill Bank is one of the oldest banks in Texas, and it's also one of the first banks to encourage the right to bear arms. "I've been looking...
Published on Monday 6th of September 2010 10:37:26 AM
Regulators shut big Chicago-based bank ["a big community bank... known for its social activism"]
Posted by admin / Under Bank Run
Regulators on Friday shut down a big community bank based in Chicago that has been known for its social activism but racked by financial troubles in recent months. It was the 114th U.S. bank to fail this year. The Federal Deposit Insurance Corp. took over ShoreBank, with $2.16 billion in assets and $1.54 billion in deposits. Urban Partnership Bank, a new institution comprised of several big Wall Street banks and a private foundation, agreed to assume ShoreBank's deposits and nearly all its assets... In an unusual move, the FDIC allowed some of ShoreBank's executives to continue running the restructured bank......
Published on Monday 6th of September 2010 10:37:26 AM
"Hope is the only bee that makes honey without flowers."
This Day In History
William McKinley: US president was shot by an anarchist; he died eight days later (1901)
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