Friday, April 9, 2010

Friday Bank Closures

Well, we didn't have any last Friday because it was Good Friday and the FDIC was probably closed. Today we saw Beach First National Bank, Myrtle Beach, South Carolina, closed today by the Office of the Comptroller of the Currency, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $130.3 million.

The total to the taxpayers so far this year equals $6.640 Billion.

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