Another U.S. Bank Fails
October 5th, 2007Note the part about the depositors who became “creditors” to the bank?
That’s a pleasant way of saying that clueless elderly people lost any portion of their deposits above the FDIC limit of $100,000.
Via: Reuters:
Miami Valley Bank, with $86.7 million in assets, became the third failed insured bank this year when Ohio’s industry regulators closed it down on Thursday, the Federal Deposit Insurance Corporation said.
The Citizens Banking Corp took over $62 million of insured deposits and two offices, which will reopen on Friday, the FDIC said in a statement.
The FDIC, which took receivership of the failed bank, said its remaining $14 million in 269 deposits exceeded the federal deposit insurance limit and depositors of that amount will become creditors.
The FDIC will retain the assets of the failed Lakeview, Ohio-based bank.
hey Kevin – Thanx!!:)
While my whole being is rubbed to a nub with worry, I sent my sisters several articles these last few days.
This: http://www.energybulletin.net/35309.html
and one by Krugman. Both met with a resounding yawn.
I figure I not only have the keys to the car, I am driving it. This post of yours drives the nail home.
That does it!! Family consensus just went overboard. I’m going to hold my nose and take the dive head-first.
I’ll tell my sister’s “sue me.” They can walk the plank – not me, not Mom. Graci-ass.