The 24th bank failure of the year

American Sterling Bank closed

American Sterling Bank was closed by regulators Friday, marking the 24th bank failure of the year as the credit crunch continues to spread through the economy.

No, no, no ....

I told you : everything's fine and under control !

The so-called "crisis" aka "global meltdown" is the "scam of the century" !

Updated on 05/02/2009

The 30th of the year

US authorities on Friday closed down the Silverton Bank in Atlanta, Georgia, and created a "bridge bank" to take over its operations. Silverton Bank is the 30th bank to fail in the nation this year and the sixth in Georgia as the United States reels from prolonged recession stemming from a home mortgage meltdown. The Federal Deposit Insurance Corporation (FDIC) said in a statement that it has created a bridge bank to take over the operations of Silverton Bank after the bank was closed Friday by the Office of the Comptroller of the Currency (OCC). The OCC appointed the FDIC as receiver, it said. At the time of its closing, Silverton Bank had approximately 4.1 billion dollars in assets and 3.3 billion dollars in deposits, all of which are expected to be within the FDIC's insurance limits.

It's also the biggest of the year ...

I told you : everything is improving !

Updated on 05/22/09

Chart of bank failures

The 2009' bar is upper than the 2008.
And we're not even in June !