Once again, just like clockwork the FEDS have stepped-in on a Friday evening and seized control of two more US Banks. This comes at the same time that it was announced that more US bailout money is needed for Bank of America and Citicorp.
The latest two casualties are the National Bank of Commerce of Berkeley, Illinois and Bank of Clark County of Vancouver, Washington.
Click here to read more: http://www.thestreet.com/story/10458503/1/regulators-close-two-banks.html?cm_ven=GOOGLEN
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This leads to the most impotatnt economic question in Salisbury. I s Perdue in Trouble? This week Tyson Food's President resign due to the company"s poor performance and in December competitor Pilgrim's Pride file for bankruptcy. Yet Delmava's largest employer and the press remain silent.In the chicken industry where thre's smoke thee's fire.Thousands depend on Perdue so I appeal to the blog community to tell us the truth.It is better to know ahead and prepare rather than have a nasty surprise..
ReplyDeleteWhen the RTC came and shut down Second National Savings Bank, based in this area, it created a job loss of over 500 people.
ReplyDeleteEven the RTC employees realized when they were 'in-process' of shutting down this very viable bank, it was a political sham, even paying their costs...which banks have to do during shutting down, Second National was still making a profit.
The loss of a viable institution and many jobs were lost simply due to a presidential political promise -- that particular president became despised by every one he cost their job when it wasn't necessary. There are few who ever forgave him that either.
They promised 'numbers' in shut downs, but at what cost? It was ugly.