FDIC Bank Closings
By Barry Ritholtz - January 30th, 2011, 3:17PM
They have been busy little buggers in 2011, havent they?
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Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data, ability to repeat discredited memes, and lack of respect for scientific knowledge. Also, be sure to create straw men and argue against things I have neither said nor even implied. Any irrelevancies you can mention will also be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.
January 30th, 2011 at 4:38 pm
After skipping the last two weeks of 2010, they’re working thru the backlog.
January 30th, 2011 at 9:43 pm
I received an email from a friend, a forwarded hirsute yell about how when Indymac got taken over by the FDIC and was folded in to One West, One West made significant profit by foreclosing on Indymac’s “assets”.
So, banks are foreclosing ’cause it’s profitable, we are paying, the FDIC should be shot, etc. I’m sure there’s truth to the story at some level, but my point is that I did not understand how FDIC takes over banks. I was focusing, as I suppose others do, on the “protect the depositor” issue, but I never focused on the “assets” of the bad bank. Does anyone know the theory and practice of this? Is there a reference? Any pointers appreciated. Thanks…
January 30th, 2011 at 9:54 pm
how many failures would there be if fair fasb mark-to-market accounting rules were followed instead of phony fasb mark-to-mystery rules?