A little late as I tried to get on the FDIC website over the weekend and their site must have been down.
A little bit of unusual activity this week was that the press release was translated in Chinese...yep, Chinese! I don't know why, but will see it it continues to happen.
1. Washington First International Bank, Seattle, Washington, was closed today by the Washington Department of Financial Institutions, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. The four branches of Washington First International Bank will reopen during normal business hours beginning Saturday as branches of East West Bank. The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $158.4 million.
Total Bank Closings = 82
Cost to the FDIC (We The People) this week... $158.4 million
Cost to the FDIC (We The People) for 2010 thus far ... approx. $17.7 BILLION
Addendum: I found out that East West Bank is a Chinese American Bank with branches in America and China. That is why there is a translation of the press release in Chinese. See Wikipedia link here.
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