by John Galt May 15, 2013 19:00 EDT Uh, this sounds a lot like 2008 or 2009. The Central Arizona Bank in Scottsdale, AZ did not even open THIS MORNING!!!! The bank was seized last night with little warning and instead of seizing the parent company in total (Capitol Bank Holdings, Lansing, MI) this one unit was suddenly seized Tuesday night and shut down. Something does not smell right as it has always been EXTREMELY RARE for a bank to be shut down on…
by John Galt May 10, 2013 22:50 EDT While the American Mainstream Propaganda Media continues its reporting of just how wonderful the economy is, reality at the street level, Main Street to be exact, continues to set it. What is truly amazing is the mainstream idiots think that because a bank fails now, that the American economy is “healthy” enough because it can absorb it. Really? In 2008 the same idiots in the financial media said the initial wave of bank failures meant nothing…
by John Galt April 19, 2013 20:30 EDT They’re backkkkkkkkkkkkkkkk…… Yes after a siesta to allow those banks which gave money to the Messiah’s re-election campaign it’s time to punish those that did not. But don’t worry gang, if your bank’s CEO didn’t give until it hurt the first time, there is always a chance to give to his library or Michelle’s dress collection. From the FDIC Bank Death List: Failure#1: Your Community Bank, New Albany, Indiana, Assumes All of the Deposits of First…
By John Galt September 18, 2012 – 19:00 ET Doom? Ha. The economic and geopolitical hell I am about to unleash along with our future Gestapo will make the a fore mentioned look like the female reproductive systems of the Communist Ladies Association. Tune into DOOMER TUESDAY at 8 p.m. ET tonight to find out more… Just click on the banner below to find the various audio players to listen or to participate in the chat room with like minded Americans.
by John Galt September 7, 2012 18:50 ET Holy Flirkingschmidt!!! A bank failure in a truly commie, er, Democratically ruled state before the election!!!! They must really, really, really suck!!!! From the FDIC website: Republic Bank & Trust Company, Louisville, Kentucky, Assumes All of the Deposits of First Commercial Bank, Bloomington, Minnesota First Commercial Bank, Bloomington, Minnesota, was closed today by the Minnesota Department of Commerce, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. To protect the…
by John Galt July 20, 2012 17:45 ET Too bad the real scum have immunity from failing and the little guys are being harvested. To see the information from the FDIC website, please click on the links below as the real estate depression continues to claim financial victims. The Royal Palm Bank of Florida – Naples, FL Georgia Trust Bank – Buford, GA First Cherokee State Bank – Woodstock, GA Make that 4 now…. Heartland Bank – Leawood, KS…
by John Galt June 18, 2012 22:30 ET This is getting a little weird. In the dead of summer, suddenly there is a surge in FDIC bank related bank failures and a large number of them continue to be in the Southeastern U.S. despite the fact that Arizona, California, and Nevada were hit just as hard by the real estate collapse. The two charts are feature below illustrate the disparity this year versus the rest of the n ation. Click on this…
by John Galt June 11, 2012 19:00 ET This is one of those updates that my readers are just going to have to see to believe including the awesome graphic below which shows just how insane this collapse and banking situation has been used to curry political favor. Click on this link or go to the listing for Economic Charts to the right of the page to see the latest graphics from Cal’s FDIC coverage.
by John Galt June 9, 2012 07:40 ET The FDIC was busy again last night zapping banks in NC, IL, OK, and SC. Even though the troubled regional banks and corrupt megabanks are apparently now exempt from failing the small community banks which have had insane mandatory rules and fees added on to these institutions are, as expected, breaking their backs and enabling larger banks to buy them for a song via the FDIC. CalOkie will have a very interesting chart update with…
By CalOkie May 27, 2012 Looking at this week’s new charts, we see a new 41 month low for the FDIC DIF (deposit insurance fund) cost. The cost paid by the FDIC this past month of May was only $19.7 million dollars. Incredible …… just incredible. This follows a two year downward trend where the FDIC DIF cost has plunged. So far the DIF cost incurred this year has been minimal. At the current rate of bank failures and DIF cost,…
by John Galt May 22, 2012 17:05 ET Due to some technical difficulties on my end as I conducted the website redesign and with one of my email addresses I have been unable to update CalOkie’s bank failure charts but now the snags are fixed and the charts are now up to date as of last Friday’s only closing, as pictured by the header from the FDIC’s takeover of Alabama Trust Bank in Sylacauga, AL. Even though bank failures are slow this year, it…
by John Galt February 16, 2012 17:40 ET Many thanks to CalOkie for the latest updates on the FDIC bank failures from last week as the Treasury and the government continue to avoid the major regional bankster problem and concentrate on community banks which are faltering thanks to the idiots who conceived Dodd-Frank. Of course, the major banksters like BAC and other co-conspirators at the Federal Reserve will never let the general idiot public understand that the system is rigged to insure that smaller…
by John Galt January 30, 2012 18:00 ET The bank failures on Friday indicate that Turbo Timmy and his boys have some money to play with now and the disaster of massive bank failures might have receded in 2010-2011 but this is 2012 and selective strikes against ‘red state’ political points for attack or worse, to create panic before the upcoming election. CalOkie is documenting the onslaught at this portion of JohnGaltFLA.com: CALOKIE’S FDIC Bank Failure Data Check out the graphic below and the link…
by John Galt January 27, 2012 19:30 ET I guess Turbo Timmy has given the FDIC the green light to shut down some of the insolvent masses. One wonders how long the authorities will let some of the insolvent regional banks operate now. Click on the bank’s name to read the FDIC report below: BankEast, Knoxville, TN Patriot Bank Minnesota, Forest Lake, MN Tennessee Commerce Bank, Franklin, TN First Guaranty Bank and Trust Company of Jacksonville, Jacksonville, FL
By CalOkie 1/23/2012 For those of us watching, last year was became very predictable. Predictable meaning last year’s monthly bank failure DIF cost totals, followed a well established 17 month pattern which had started in 2010. When the pattern broke, bank failures and DIF cost plummeted. We sort of hit a BOTTOM for the last 8 weeks. Since it appears that we are not out of harms way economically …… from the bottom the only direction is UP. Just my thoughts. Last Friday…
by John Galt January 20, 2012 18:20 ET I guess the FDIC was able to convince Turbo Timmy to allow them to use a little bit of the DIF so they can close some real small lemons. Click on the links to read the details and check out CalOkie’s updated page on Monday to see the full gory details once the dust clears. Central Florida State Bank Bellview, FL The First State Bank Stockbridge, GA American Eagle Savings Bank Boothwyn, PA
Let the Good Times Roll By CalOkie 1/18/2012 Oh where… oh where has the FDIC gone? It appears today that FDIC is becoming as useful as the Maytag repairman from yesteryear. For you out there to young to remember, the Maytag man was the guy in the television commercials from the late 60’s thru the late 80’s who portrayed a repairman with nothing to do… sad and lonely. For the past eight weeks the FDIC has not had much to do. Four weeks ago they…
By CalOkie 1/1/2012 Now that 2011 is behind us, here’s a quick summary for last years bank failures. 2011 started with the continuation of a lull in bank failures and FDIC DIF (deposit insurance fund) cost. That lull was a well defined monthly pattern which had started May of 2010. The pattern ran for a total of seventeen months and broke last October. It was pretty impressive, all things considered. Also worth mentioning was the decline in the number of banks closed by the FDIC…
By John Galt November 22, 2011 – 05:30 ET The CalOkie FDIC bank failure page has been updated with a new series of charts as there were only two failures but boy does it smell like a lot more are still in the pipeline despite the government propaganda push. Why else would they have to keep playing those incessantly stupid “put your money in the bank” FDIC P.S.A.’s on almost every radio station day after day? Click on the link to the right of this…
By John Galt November 14, 2011 – 18:35 ET The date that freaked everyone out, 11/11/11, did not freak out the FDIC bureaucrats because they were off that day. But on November 10th they closed one more bank for good measure. The graphic below illustrates the banks shut down over the last two weeks: (click to enlarge/reduce) To see the remaining charts, click on the CalOkie FDIC update link to the right under the economic data page listing.
By Cal Okie November 2, 2011 – 22:30 ET Lucky Sevens Ends the 17 Month FDIC DIF Cost Pattern The FDIC DIF cost for October 2011 totaled an estimated 776.7 million dollars. Rounded out to the nearest million dollars we get 777 million dollars (lucky sevens?). This total ends the well established 17 month DIF cost pattern. If the pattern would of held this month, we should have seen DIF cost between 1.1 – 1.3 billion dollars. So what’s next? We will just have to…
By John Galt October 24, 2011 – 13:20 ET This weekend was another one where any state having Republican strength saw more banks closed than Democrat controlled states but hey, that’s just a “coincidence” right? In the interim, those who have business accounts are banks which are seized are finding their day to day banking affairs a pain in the rear and unfortunately it will not get any better with this regime in charge. Thanks again to CalOkie for following the trends and keeping a…
By John Galt October 17, 2011 – 18:30 ET THE GREAT MONTH 18 LULL By CalOkie: We are now well into month 18th of this well enduring bank failure and FDIC DIF cost holding pattern. What we have seen on my charts for the past 18 months has pretty much been a flat line. No better and no worst overall. I must say, during this GREAT LULL three states seem to stand out as being hit the hardest by our economic crisis. Georgia…
By John Galt October 10, 2011 – 13:00 ET Thanks to my friend, CalOkie, for forwarding the information on the FDIC closings from the past week (Click here or to the right of this page for updated charts-CALOKIE’S FDIC Bank Failure Data). The two of us entered into a discussion as to why the FDIC is closing their satellite offices around the nation and the official line is that there were not going to be that many more failures so the offices would not be…
By John Galt September 26, 2011 – 12:00 ET It seems that CalOkie’s FDIC update pages are about to get real busy again. The FDIC hit a decent sized institution in Norfolk, Virginia of all places while deciding to not shut down every institution in the states of Florida and Georgia even though they probably need to. Check out the pages by clicking on the link in the upper right box of this page.
By John Galt September 14, 2011 – 11:00 ET Just a reminder: Click on the link in the upper right hand side of the page where the Economic Charts, Data, & Links box chocked full of charts is located to see all of the charts as the quietest month for bank failures is under way. The FDIC is deliberately trying to hide this problem as Cal’s graphic below illustrates:
By John Galt August 29, 2011 – 18:28 ET Oh man, oh man, oh man. Thank you Yves Smith for capturing this one: FDIC Objects to $8.5 Billion BofA Settlement (Updated) Click on the link to read the FDIC document and the bloodshed. Thank you Yves at Naked Capitalism. Wow, this is a fun one to read because the truth is sadistically painful and enjoyable.
By John Galt August 19, 2011 – 18:15 ET From the FDIC website, the first one is a big one at $293.2 million…. Lydian Private Bank First Southern National Bank
By John Galt August 18, 2011 – 17:30 ET Uh, I thought it was my vodka martini but no, it is FDIC Thursday so this bank must have really, really, really, sucked. Here’s the poop with the link from the FDIC home page: Failed Bank Information Information for Public Savings Bank, Huntingdon Valley, PA Introduction Press Release Acquiring Financial Institution Question and Answer Guide Banking Services Loan Customers Possible Claims Against the Failed Institution Priority of Claims Dividend Information Brokered Deposits Please be advised you…
By John Galt August 14, 2011 The weekly update for CalOKIE’s page with the bank failures, charts and more has been updated but alas, only one this week as the FDIC gave their troopers a week off. Except for the poor souls sent to Kansas. To view the latest charts, click on the link in the upper right hand side or on this link to access the page.
By John Galt August 11, 2011 The graphs are updated as well as a link to a story about something completely different: A bank QUITTING the FDIC/Federal Reserve system. Check it out by clicking on this link or under the Economics chart pages in the upper right hand corner of this page.
By John Galt August 1, 2011 To view the charts which are eye openers, click on the link at the upper right hand corner or on this link below: CalOkie Bank Failure Charts
By John Galt July 24, 2011 Thanks again to CalOkie for supplying a stream of data which speaks volumes as to the severity of the FDIC problems and banking system as a whole. To read the latest updates, click on this link or on his page at the upper right hand corner from this posting. To give you an example of how bad things are this year, check out the cost of bank failures in Georgia alone from his charting: (Click on the chart to…
By John Galt July 17, 2011 To follow the updates you can click on the link in the upper right hand corner under the Economic Charts, Data, & Links block, or just click on this link. It will be fascinating to see if the pace picks up after the debt ceiling nonsense is concluded. List of FDIC Banks which failed this week: One Georgia Bank Atlanta, GA High Trust Bank Stockbridge, GA First Peoples Bank Port St. Lucie, FL Summit Bank Prescott, AZ
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