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FEDS shut down 2 More Large Banks Friday

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Mike Kennedy

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New York
http://biz.yahoo.com/ap/081108/bank_closures_texas_california.html

Regulators shut Franklin Bank in Texas, Security Pacific Bank in Calif.; 19 failures this year

The 19 bank failures so far this year compare with three for all of 2007 and are more than in the previous five years combined. It's expected that many more banks won't survive the next year of economic tumult. The pressures of tumbling home prices, rising mortgage foreclosures and tighter credit have been battering many banks, large and small, across the nation.
 

Carnivore

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I believe in 1987 approx. three thousand banks failed.

What did we do back then to fix the problem?
 

Mike Kennedy

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What did we do back then to fix the problem?


Essentially nothing.
 

VegasWayne

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Nov 15, 2007
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Licensed Appraiser
State
Nevada
I had an account at Security Pacific Bank when it failed and was taken over by B of A in 1992. Is this one a zombie that came back from the dead.
 

ezillmer

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Arizona
We built technology, the 90's had more growth in it because micosoft, cisco,apple created something that created demend. Also car companies like Ford, GM etc had 0% financing after 9/11. That helped move the economy in 2001.
 
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