Feds Shut Banks in Calif., Ga. and S.D.

Regulators Close 4 Banks, Raising Total of Failed Federally-Insured Firms This Year to 57

(AP)  Regulators on Friday shut two banks in California and two smaller banks in Georgia and South Dakota, boosting to 57 the number of federally insured banks to fail this year.

The Federal Deposit Insurance Corp. was appointed receiver of the four banks. The two biggest were Temecula Valley Bank,/B>, in Temecula, Calif., with $1.5 billion in assets and deposits of about $1.3 billion as of May 31 and Vineyard Bank, National Association, of Rancho Cucamonga, Calif. It had assets of $1.9 billion and $1.6 billion in deposits as of March 31.

The two smaller banks were First Piedmont Bank, based in Winder, Ga., which had about $115 million in assets and $109 million in deposits as of July 6 and BankFirst, based in Sioux Falls, S.D., with around $275 million in assets and $254 million in deposits as of April 30.

The FDIC said all of Temucula's deposits will be assumed by First-Citizens Bank and Trust Company of Raleigh, N.C. The bank also will purchase essentially all of the assets. San Diego-based California Bank & Trust agreed to assume the deposits of Vineyard Bank, excluding about $134 million from brokers. California Bank & Trust will purchase about $1.8 billion of assets. The FDIC will retain the remaining assets for later disposition.

The FDIC and First-Citizens struck a loss-share agreement on about $1.3 billion of Temecula's assets. The agency and California Bank & Trust agreed to a loss-share transaction for about $1.5 billion of Vineyard assets.

All of First Piedmont's deposits will be assumed by First American Bank and Trust Co. of Athens, Ga., which also agreed to buy about $111 million of its assets. Alerus Financial, based in Grand Forks, N.D., agreed to assume all the deposits of BankFirst as well as $72 million in assets.

In addition, the federal agency and First American Bank and Trust entered into a loss-sharing agreement covering about $90 million of First Piedmont Bank's assets. And Beal Bank Nevada, based in Las Vegas, agreed to acquire $177 million of BankFirst's loans.

Friday's move brings the number of bank closings in California this year to eight.

With First Piedmont, 15 Georgia banks have failed since the beginning of 2008, more than in any other state. Most of the failures have involved banks in the Atlanta area, where the collapse of the real estate market brought economic dislocation.

Until Friday, however, no federally insured bank had been closed in South Dakota since 1992, when First Federal Savings Bank of South Dakota, based in Rapid City, was shut down during the savings and loan crisis.

The 57 bank failures nationwide this year compare with 25 last year and three in 2007.

The FDIC estimates that the cost to the deposit insurance fund from the failure of Temecula will be $391 million and $579 million for Vineyard Bank. For First Piedmont Bank, the cost is put at $29 million. The cost to the fund from BankFirst's failure is estimated at $91 million.

As the economy has soured - with unemployment rising, home prices tumbling and loan defaults soaring - bank failures have cascaded and sapped billions out of the deposit insurance fund. It now stands at its lowest level since 1993, $13 billion as of the first quarter.

While losses on home mortgages may be leveling off, delinquencies on commercial real estate loans remain a hot spot of potential trouble, FDIC officials say. If the recession deepens, defaults on the high-risk loans could spike. Many regional banks hold large numbers of them.

The Treasury Department has launched a program in which financial firms will buy as much as $40 billion worth of banks' soured, mortgage-linked investments. That amount is far below the potential $1 trillion in assets that the government originally hoped to take off the banks' books through the program and another that would have targeted bad loans.

The problem assets helped spark the financial crisis as they lost value and banks became unable to sell them. They have been weighing down banks' balance sheets - one reason the industry has had trouble providing the credit necessary to support an economic recovery.

The number of banks on the FDIC's list of problem institutions leaped to 305 in the first quarter - the highest number since 1994 during the savings and loan crisis - from 252 in the fourth quarter. The FDIC expects U.S. bank failures to cost the insurance fund around $70 billion through 2013.

The May closing of struggling Florida thrift BankUnited FSB is expected to cost the insurance fund $4.9 billion, the second-largest hit since the financial crisis began. The costliest was the July 2008 seizure of big California lender IndyMac Bank, on which the insurance fund is estimated to have lost $10.7 billion.

The largest U.S. bank failure ever also came last year: Seattle-based thrift Washington Mutual Inc. fell in September, with about $307 billion in assets. It was acquired by JPMorgan Chase & Co. for $1.9 billion in a deal brokered by the FDIC.

By AP Business Writer Marcy Gordon
© MMIX The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed.

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by pozjetsfan July 20, 2009 6:25 PM EDT

As a business professional, I have concluded that the FDIC is scraping the bottom of the barrel to assume it's continued path of financial domination at the cost of the american taxpayers. How the group could shut down 57 federally insured banks tells me that the "pork barrel recession" we are facing is no closer to the end as it is to the beginning. Common sense should tell you that the US banking industry is shaking it's tail feathers to attract attention from potential suitors and no one is finding them very pretty. The lethargy on display staggers me. It seems logical, to a fault, that the Obama Administration has placed a premium on retaining the rights to profit from consumer lack of information. Naturally, it will be denied and buried in a bureaucratic trash can and tossed out with the rest of our governments promises. I remember from my civics class in high school that our government is for the people and by the people. I think we lost that focus and it's no more a fairy tale than is Wee Willy Winky. Our social structure is coming apart at the seems and I believe that President Obama has little to do with what is actually going on. His puppet regime was selected by the folks who supported and sponsored his election the most and consequently an alternative form of government has taken over this country. I can be judgemental because it is my inalienable right to do so. However, the truth behind our countrys subsequent use of proliferated funds is staring Obama right between the eyes. I can't wait to see how this all plays out because as you know, truth is so much stranger than fiction.....to be continued

Reply to this comment

by r9119111 July 20, 2009 4:37 AM EDT

cpqdk07191969:

I get it now. You are being paid to post your crap. For America, I won't even repeat your posts.

Reply to this comment

by reality42 July 19, 2009 11:29 PM EDT

Everything is going to plan and things are great.
to big to fail banks which caused this world melt down are rewarded by goverment with tax payers money to be strong again to take market share from the smaller banks which were running a bank like the Canadian banks run theres.
Soon ever thing will be great and best ever earnings as the American people struggle for years to come.
Say good bye to your high valued house from years passed and don't count on your 401K to be back to where it was ----this will take 8 years because the market will bounce sideways for that long.
To Big to fail American companys are heading out to make there money out of North America

Reply to this comment

by sashenka1 July 19, 2009 9:26 PM EDT

The str8 people of this country have ridiculed and prosecuted and dragged behind pick up trucks! Now, consider more serious situations.

Reply to this comment

by pozjetsfan July 20, 2009 6:50 PM EDT

I did not know that our country's current collapse is an orientation issue. I'm str8 and realize that our alternative society is still just as much a part of this as anyone who lives in America. I adore women and even while my hormones rage out of control, our government is no closer to solving it's problems. A word to the wise, being gay does not discriminate bad debts and over drawn bank accounts. Str8 folks get that too.

by sashenka1 July 19, 2009 9:24 PM EDT

Oh, People! Get rid of your clothing, lie down and listen to the real news of what is going on!

Reply to this comment

by nearl451 July 19, 2009 3:11 PM EDT

Seem like sensible actions to me. I do not understand all the hubbub.

Reply to this comment

by cpqdk07191969 July 19, 2009 5:04 PM EDT

It's happening on Obama's watch.

Obama is to blame.

by pravin404 July 19, 2009 12:57 PM EDT

This Friday 4 banks were closed by FDIC.
So far 57 banks failed in 2009 and 82 since 2008.

http://portalseven.com/Failed-Banks-2009

For California, this was the 8th failure this year with total 13 banks fails since 2008.
Of this 13 failures , 8 banks were with the assets of more than $1 billion. 4 medium sized banks with assets between $100 million and $1 billion. And only 1 small bank with assets less than $100 million.

Check all the bank failures in California at
http://portalseven.com/finance/Failed_Banks_State_Wise.jsp?state=CA


For Georgia, 1 bank failed this Friday , taking total to 15 since 2008 and 11th bank failure this year.
Of this 15 failures, 2 banks were with the assets of more than $1 billion. 13 medium sized banks with assets between $100 million and $1 billion.

Check all the bank failures in Georgia at
http://portalseven.com/finance/Failed_Banks_State_Wise.jsp?state=GA


For South Dakota, the failure of Alerus Financial, N.A. was the first one after First Federal Savings Bank of South Dakota, Rapid City was closed by FDIC on on April 24, 1992.

http://portalseven.com/finance/Failed_Banks_State_Wise.jsp?state=SD

Reply to this comment

by r9119111 July 19, 2009 9:28 AM EDT

cpqdk07191969:

Please forgive me for this, I'm saying it as a loving friend.

Could it be that you are a self-centered, egotistical bigot? Before you respond, it might be useful to look these words up in the dictionary. Please believe me, if you are, then you are probably scared to death and your life is run by greed and fear and you are very impressed by your superiority. Peace be with you my friend, may we live in peace and prosperity always.

Reply to this comment

by cpqdk07191969 July 19, 2009 5:05 PM EDT

OBAMA = One Big A** Mistake, America!

I saw it on a bumper sticker. So I know it's true.

P.S. it wasn't my car.

by r9119111 July 19, 2009 8:04 AM EDT

by sharoncalla July 18, 2009 10:57 PM EDT
When you are born your parents bless you with a "name". The president was given the name Barrack Hussein Obama, if he could of chosen his own name, it would of been something so different. Perhaps, Adam, but alas it was out of his hands. He is a man with ideas, but he is given daily reports of what issues are demanding and what he can do. He is told by the congress, what to do. He attends meetings, he appoints people he thinks are the best for the job at hand. He has sleepless nights. He has agreed to take the job of rebuilding the U.S.A. we are in times of despair, a recession, high crime, bank woes, GM woes, could his job get any harder? Do you want the job? He is doing the best he can, trying to fix what he can, and encouraging the uneducated to get educated for the future. I admire him for the very fact that he even "accepted" the challenge. Now say something nice or please say nothing at all. Walk a mile in my shoes applies here. We don't know his stress, what he is told, and ect. It takes everyone working together and no bickering, he said in one of his meetings to the press, "I can't snap my fingers, or push buttons" to get actions. We have to roll up our sleeves and pitch in. We all must take this attitude. Here's to a better tomorrow. Pray for your president, I am sure he would appreciate it. Try really hard to be kind. Kindness is so welcome, everywhere.

by Lawyers-Guns-n-Money July 19, 2009 12:01 AM EDT
by carolhill814 July 18, 2009 4:13 PM EDT
Mr Obama scared me from the very start when you can't tell us your real name and where you were really born that is a real problem evertime he opens his mouth a lie comes out of it and that is a fact.
-------------

What's REALLY scary is people such as yourself may actually exercise their right to vote. Next time you chose to do so, might I suggest a simple coin flip? It'd be a more practical and more informed option for you.


I thank both sharoncalla and Lawyers-Guns-n-Money for their worthy responses. I also think it wise to take a look iside the oppositions thinking. Those against meaningful change are scared to death. Their world of greed, fear and superiority is crumbling before their eyes. I would like to include them in America's renewal after being politically hijacked by a band of self motivated and ruthless extremists, however their only option is to be deceptively obstructionistic.

Reply to this comment

by cpqdk07191969 July 19, 2009 8:52 AM EDT

Those against meaningful change are scared to death.
-----------------

You mean, this kind of change:

Barry(Marion) Spitzer Geithner Daschle Richardson Blago Burris Edwards Kilpatrick Mahoney(followed Foley on morality crusade, then had affair) Kennedy Clinton

Obama's blunders:
ill fated plan to close Gitmo, getting spanked by his own party in Congress
Geithner Daschle Richardson
"Special Olympics" gaffe
"punch drunk" TV interview
Capt Phillips taken hostage
N Korea weapons testing, launched seven missiles in one day on 7/4/2009
NYC "photo op" flight
cancel F-22 program
bow to Saudi king
continuing Bush policies on drones, wiretaps, Gitmo detainees, free trade
GM debacle
Appointed a racist bigot to the Supreme Court
Appointed an obese woman to be Surgeon General

Just plain embarassing:
Carter

Oh, ya. I'M SHAKIN'.....!

ROTFLMAO!

by cpqdk07191969 July 19, 2009 7:56 AM EDT

by carolhill814 July 18, 2009 4:13 PM EDT
Mr Obama scared me from the very start when you can't tell us your real name and where you were really born that is a real problem evertime he opens his mouth a lie comes out of it and that is a fact.
-------------

Excellent post! We should have paid more attention to his refusal to identify himself or his true origins.

OBAMA = One Big A** Mistake, America!!!

Reply to this comment

by Lawyers-Guns-n-Money July 19, 2009 12:01 AM EDT

by carolhill814 July 18, 2009 4:13 PM EDT
Mr Obama scared me from the very start when you can't tell us your real name and where you were really born that is a real problem evertime he opens his mouth a lie comes out of it and that is a fact.
-------------

What's REALLY scary is people such as yourself may actually exercise their right to vote. Next time you chose to do so, might I suggest a simple coin flip? It'd be a more practical and more informed option for you.

Reply to this comment

by sharoncalla July 18, 2009 10:57 PM EDT

When you are born your parents bless you with a "name". The president was given the name Barrack Hussein Obama, if he could of chosen his own name, it would of been something so different. Perhaps, Adam, but alas it was out of his hands. He is a man with ideas, but he is given daily reports of what issues are demanding and what he can do. He is told by the congress, what to do. He attends meetings, he appoints people he thinks are the best for the job at hand. He has sleepless nights. He has agreed to take the job of rebuilding the U.S.A. we are in times of despair, a recession, high crime, bank woes, GM woes, could his job get any harder? Do you want the job? He is doing the best he can, trying to fix what he can, and encouraging the uneducated to get educated for the future. I admire him for the very fact that he even "accepted" the challenge. Now say something nice or please say nothing at all. Walk a mile in my shoes applies here. We don't know his stress, what he is told, and ect. It takes everyone working together and no bickering, he said in one of his meetings to the press, "I can't snap my fingers, or push buttons" to get actions. We have to roll up our sleeves and pitch in. We all must take this attitude. Here's to a better tomorrow. Pray for your president, I am sure he would appreciate it. Try really hard to be kind. Kindness is so welcome, everywhere.

Reply to this comment

by cs4466 July 18, 2009 7:48 PM EDT

Just checking in.

Neocons crying? Check!
Republicans whining? Check!
President Barak Obama doing a good job? Check!
Secretary of State Hillary Clinton doing a good job? Check!

Excellent! Carry on!!

Reply to this comment

by cpqdk07191969 July 19, 2009 7:53 AM EDT

Spitzer Geithner Daschle Richardson Blago Burris Edwards Kilpatrick Mahoney(followed Foley on morality crusade, then had affair) Kennedy Clinton

Obama's blunders:
ill fated plan to close Gitmo, getting spanked by his own party in Congress
Geithner Daschle Richardson
"Special Olympics" gaffe
"punch drunk" TV interview
Capt Phillips taken hostage
N Korea weapons testing, launched seven missiles in one day on 7/4/2009
NYC "photo op" flight
cancel F-22 program
bow to Saudi king
continuing Bush policies on drones, wiretaps, Gitmo detainees, free trade
GM debacle
Appointed a racist bigot to the Supreme Court
Appointed an obese woman to be Surgeon General

Just plain embarassing:
Carter

Dems still full of BS? CHECK!

by r9119111 July 18, 2009 3:13 PM EDT

by chap07181969 July 18, 2009 2:50 PM EDT
This is happening on Obama's watch.

Obama is to blame

It's that simple!

OBAMA = One Big A** Mistake, America!


Your comment is just more GOP trash talk. The GOP creates the mess then blames it on the Democrats as efforts are made to clean it up. You can't deny that the GOP agenda is what caused this mess. With people like you and your kind, who needs enemies?

Reply to this comment

by ttinsly July 18, 2009 3:08 PM EDT

chap07181969, You know. The american people cannot be that stupid. Use logic about on one's clock. Why are republican's infallible to this rule. It seems like whenever something was wrong with Bush, it was clinton's fault. At the very least show some responsibility and admit to the fact that this started under Bush's clock. That the debt ballooned under bush, the distribution of wealth worsened considerably under Bush, as did the well-being of the poor and large segments of the middle class.

If you show some consistency, maybe you can convince people. In the meantime, the fact remains that governments with good democratic oversight and strict regulations and even nationalized banks, (Canada and India) have not been affected by this crisis. Obama's policies (that "communist") are a mere continuation of Bush's. Aid for these corrupt corporations, no accounting of the monies received, no nationalizations. A non-ideologue would at the very least want to study why countries with nationalized banking systems have avoided this crisis. They would also see about what good points could be learned from this. In the meantime, despite your babble, reality will trump it. The sheep's babble will not make the banks work again. And neither will it prevent the dollar from being destroyed, unless we seriously change our ways...

Reply to this comment

by John_Merritt July 19, 2009 9:57 PM EDT

Hey Tinsley:

You have this speech down pat. Can't say I agree with everything, but on many fronts you are absolutely right. Whatever the case, hunker down, because we are in for a long slog. Did not vote for Obama, but nobody could do any better, and he is not doing that good og a job YET. I hope he can turn it around, but I am starting to have my doubts. You guys have a great week.

by ttinsly July 18, 2009 2:03 PM EDT

PS. When the rest of the world finally drops our dollar laden with war-debt, of which they are already tired; and when they logically opt for a neutral currency and not an imperial currency (why after all, should the rest of the world have to use our currency which no longer represents a responsible country at the very least in terms of keeping its financial house in order?) I am not being subversive in asking this, the rest of the world is asking this right now. We need to know what they are asking themselves; because they are moving in this direction right now. America needs to see that whether our Fox news, and the public is in a 50's style inspired delirium of the US being the leader of right and all that jazz, well the rest of the world no longer buys it. It just doesn't. Our actions are just too blatant. No superficial change of presidency will change that, especially if the activities remain the same, and the Pentagon head remains as the same person under Bush. Even if we choose to be ignorant and see our country with rose colored glasses, the rest of the world knows our history knows our imperialist actions all over the world (especially the Middle east and Latin america) against democracies and dictatorships alike. Notwithstanding our rush to go to church on sundays, after listening to songs that degrade women children and make light of murder. Whatever we want to believe is no longer going to mean a darned thing. We can pretend that the US is the best country in the world, but when the rest of the world dumps our worthless imperialist dollars, that is when our ignorance is going to bite us in the ar*e. Closing your eyes will not make the problem go away. When this happens, we are going to be a third world country, or something approaching one in all respects. Surely, our "Wise" leaders will opt for war as the sure way to put money into the economy (instead of needed social programs, because it becomes 'socialism' when it is for the well-being of people) We will march on like good christian soldiers killing for profits and wealth, and will morph into our purely imperialist form until our empire definitively collapses or humanity is destroyed, whichever one we collectively choose to do...

Until then, have fun with your war video games that you give your children, your wars for profits and oil, your zeal for creating new WMD's and biological weapons. Our country is really hardly better than Iran, and certainly more dangerous and feared globally than it.

Reply to this comment

by reality42 July 19, 2009 11:43 PM EDT

ttinsly
You are bang on great post and reality is what you are saying.
Time for America to throw out the bums of to be to fail and let the markets work the way they should . with out Government interferance

by ttinsly July 18, 2009 1:46 PM EDT

This economy is going to get worse and Obama is not going to be able to fix it. Obama is going to be too little too late, even as our Soviet Media will try to sell him as some radical; because the elite is painting him as the evil sacrificial cow for all of the evil that they have sponsored. The neocon attempt at global domination has left Americans with rightful suspicions of our government's activities and democratic legitimacy and transparency. We know our government is lying; and this economic mess, and deficit, and socialism for the wealthy and our deficit military spending is only a confirmation of this. The neocon economy is what caused this to begin with. But conservative OBama has opted for socialism for the wealthy who caused this mess in large part to begin with. Only banana republics would not require any accounting for the massive Bank aid that has been received. And our daily reality is confirming that we are presently living in a banana republic, not because of OBama but because multinationals and the pentagon (its ally) runs the show and not our own government. THis is only the beginning, baby. The empire is falling! If you have a way to get out do so now. In the meantime stop supporting multinational corporations, and their elites, buy local shop local, keep your money local. These vampire parasites have to go. If they have their way, the next sweatshops will be in your neighborhood, if we are not careful.

Reply to this comment

by walt1944 July 18, 2009 12:15 PM EDT

Larry Summers says the economy is getting better because less people are googling "economic downturn"!

Tim Geitner says he can see a "light at the end of the tunnel!"!!

The Labor Department says there were ONLY 533,000 new unemployment claims last week!

Obama has ordered that all government offices hang a picture of the cartoon character Alfred E. Newman from MAD Magazine which will carrying Newman's famous words; "What? Me Worry?"!!!!

Maybe someone SHOULD!!!!!!

HAIL OBAMA????????????

Reply to this comment

by jetranger7 July 18, 2009 11:51 AM EDT

Its all part of Corporate Americas secret plan to turn this country into a 3rd World Country,, its been brewing since the late 1980's,, its time Americans get their heads out of their butts and wake up and pay attention,, to whats going on and do something,, insteaded of talking about it,,, but they won't because their clueless and Naive and well to be blunt- Ignorant !!! ohh ya- Lazy too, they want or hope 1 person will come along and save the day so they won't have to put forth any effort,, and can just sit back and reap whatever benefits from whatever somebody else did to make things better,,,,, Wake Up- sleepy Americans,,, get your heads out of your butts, before its too late !!!!

Reply to this comment

by bajajohn1 July 18, 2009 5:50 PM EDT

And how are things in Narnia?

by reality42 July 19, 2009 11:52 PM EDT

The world is looking at how the American people deal with the goverment lies and coruption. Your post is very true and the world knows the lazyness and arrogants of Americans waiting for someone or something to happen to bring all there wealth back.

by txlakeside July 18, 2009 11:37 AM EDT

Mr-Man ... Was it a rogue GOV in 87 when the Savings and loans were seized?... dumb as dirt and still PO'd that Obama is President is not a good argument for your cause. The FDIC has seized 100's if not 1000's of failed "CAPITALIST" money institutions that were mismanaged since inception and many during your trickle down messiah's Reagan tenure!. They are what protect you paltry savings as you obviously do not have much money insured. Dumb as dirt and a FAUX news addict as well!!

Reply to this comment

by tautomer July 18, 2009 12:50 PM EDT

Congress was Democrat during the S&L crisis just like today. While we had Republican congresses from 2001 to 2006 there were 22 bank failures or an average of 3.75 per year. Since we got a Democrat congress in 2007 there have been 84 bank failures in just 2-1/2 years or an average of 34 per year!!!!

It's funny how Dems always want to ignore he correlation between Deomcrat Congresses and bad economic results.

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[pozjetsfan]

As a business professional, I have concluded that the FDIC is scraping the bottom of the barrel to assume it's continued path of financial domination at the cost of the american taxpayers. How the group could shut down 57 federally insured banks tells me that the "pork barrel recession" we are facing is no closer to the end as it is to the beginning. Common sense should tell you that the US banking industry is shaking it's tail feathers to attract attention from potential suitors and no one is finding them very pretty. The lethargy on display staggers me. It seems logical, to a fault, that the Obama Administration has placed a premium on retaining the rights to profit from consumer lack of information. Naturally, it will be denied and buried in a bureaucratic trash can and tossed out with the rest of our governments promises. I remember from my civics class in high school that our government is for the people and by the people. I think we lost that focus and it's no more a fairy tale than is Wee Willy Winky. Our social structure is coming apart at the seems and I believe that President Obama has little to do with what is actually going on. His puppet regime was selected by the folks who supported and sponsored his election the most and consequently an alternative form of government has taken over this country. I can be judgemental because it is my inalienable right to do so. However, the truth behind our countrys subsequent use of proliferated funds is staring Obama right between the eyes. I can't wait to see how this all plays out because as you know, truth is so much stranger than fiction.....to be continued

[r9119111]

cpqdk07191969:

I get it now. You are being paid to post your crap. For America, I won't even repeat your posts.

[reality42]

Everything is going to plan and things are great.
to big to fail banks which caused this world melt down are rewarded by goverment with tax payers money to be strong again to take market share from the smaller banks which were running a bank like the Canadian banks run theres.
Soon ever thing will be great and best ever earnings as the American people struggle for years to come.
Say good bye to your high valued house from years passed and don't count on your 401K to be back to where it was ----this will take 8 years because the market will bounce sideways for that long.
To Big to fail American companys are heading out to make there money out of North America

[sashenka1]

The str8 people of this country have ridiculed and prosecuted and dragged behind pick up trucks! Now, consider more serious situations.

[pozjetsfan]

I did not know that our country's current collapse is an orientation issue. I'm str8 and realize that our alternative society is still just as much a part of this as anyone who lives in America. I adore women and even while my hormones rage out of control, our government is no closer to solving it's problems. A word to the wise, being gay does not discriminate bad debts and over drawn bank accounts. Str8 folks get that too.

[sashenka1]

Oh, People! Get rid of your clothing, lie down and listen to the real news of what is going on!

[nearl451]

Seem like sensible actions to me. I do not understand all the hubbub.

[cpqdk07191969]

It's happening on Obama's watch.

Obama is to blame.

[pravin404]

This Friday 4 banks were closed by FDIC.
So far 57 banks failed in 2009 and 82 since 2008.

http://portalseven.com/Failed-Banks-2009

For California, this was the 8th failure this year with total 13 banks fails since 2008.
Of this 13 failures , 8 banks were with the assets of more than $1 billion. 4 medium sized banks with assets between $100 million and $1 billion. And only 1 small bank with assets less than $100 million.

Check all the bank failures in California at
http://portalseven.com/finance/Failed_Banks_State_Wise.jsp?state=CA


For Georgia, 1 bank failed this Friday , taking total to 15 since 2008 and 11th bank failure this year.
Of this 15 failures, 2 banks were with the assets of more than $1 billion. 13 medium sized banks with assets between $100 million and $1 billion.

Check all the bank failures in Georgia at
http://portalseven.com/finance/Failed_Banks_State_Wise.jsp?state=GA


For South Dakota, the failure of Alerus Financial, N.A. was the first one after First Federal Savings Bank of South Dakota, Rapid City was closed by FDIC on on April 24, 1992.

http://portalseven.com/finance/Failed_Banks_State_Wise.jsp?state=SD

[r9119111]

cpqdk07191969:

Please forgive me for this, I'm saying it as a loving friend.

Could it be that you are a self-centered, egotistical bigot? Before you respond, it might be useful to look these words up in the dictionary. Please believe me, if you are, then you are probably scared to death and your life is run by greed and fear and you are very impressed by your superiority. Peace be with you my friend, may we live in peace and prosperity always.

[cpqdk07191969]

OBAMA = One Big A** Mistake, America!

I saw it on a bumper sticker. So I know it's true.

P.S. it wasn't my car.

[r9119111]

by sharoncalla July 18, 2009 10:57 PM EDT
When you are born your parents bless you with a "name". The president was given the name Barrack Hussein Obama, if he could of chosen his own name, it would of been something so different. Perhaps, Adam, but alas it was out of his hands. He is a man with ideas, but he is given daily reports of what issues are demanding and what he can do. He is told by the congress, what to do. He attends meetings, he appoints people he thinks are the best for the job at hand. He has sleepless nights. He has agreed to take the job of rebuilding the U.S.A. we are in times of despair, a recession, high crime, bank woes, GM woes, could his job get any harder? Do you want the job? He is doing the best he can, trying to fix what he can, and encouraging the uneducated to get educated for the future. I admire him for the very fact that he even "accepted" the challenge. Now say something nice or please say nothing at all. Walk a mile in my shoes applies here. We don't know his stress, what he is told, and ect. It takes everyone working together and no bickering, he said in one of his meetings to the press, "I can't snap my fingers, or push buttons" to get actions. We have to roll up our sleeves and pitch in. We all must take this attitude. Here's to a better tomorrow. Pray for your president, I am sure he would appreciate it. Try really hard to be kind. Kindness is so welcome, everywhere.

by Lawyers-Guns-n-Money July 19, 2009 12:01 AM EDT
by carolhill814 July 18, 2009 4:13 PM EDT
Mr Obama scared me from the very start when you can't tell us your real name and where you were really born that is a real problem evertime he opens his mouth a lie comes out of it and that is a fact.
-------------

What's REALLY scary is people such as yourself may actually exercise their right to vote. Next time you chose to do so, might I suggest a simple coin flip? It'd be a more practical and more informed option for you.


I thank both sharoncalla and Lawyers-Guns-n-Money for their worthy responses. I also think it wise to take a look iside the oppositions thinking. Those against meaningful change are scared to death. Their world of greed, fear and superiority is crumbling before their eyes. I would like to include them in America's renewal after being politically hijacked by a band of self motivated and ruthless extremists, however their only option is to be deceptively obstructionistic.

[cpqdk07191969]

Those against meaningful change are scared to death.
-----------------

You mean, this kind of change:

Barry(Marion) Spitzer Geithner Daschle Richardson Blago Burris Edwards Kilpatrick Mahoney(followed Foley on morality crusade, then had affair) Kennedy Clinton

Obama's blunders:
ill fated plan to close Gitmo, getting spanked by his own party in Congress
Geithner Daschle Richardson
"Special Olympics" gaffe
"punch drunk" TV interview
Capt Phillips taken hostage
N Korea weapons testing, launched seven missiles in one day on 7/4/2009
NYC "photo op" flight
cancel F-22 program
bow to Saudi king
continuing Bush policies on drones, wiretaps, Gitmo detainees, free trade
GM debacle
Appointed a racist bigot to the Supreme Court
Appointed an obese woman to be Surgeon General

Just plain embarassing:
Carter

Oh, ya. I'M SHAKIN'.....!

ROTFLMAO!

[cpqdk07191969]

by carolhill814 July 18, 2009 4:13 PM EDT
Mr Obama scared me from the very start when you can't tell us your real name and where you were really born that is a real problem evertime he opens his mouth a lie comes out of it and that is a fact.
-------------

Excellent post! We should have paid more attention to his refusal to identify himself or his true origins.

OBAMA = One Big A** Mistake, America!!!

[Lawyers-Guns-n-Money]

by carolhill814 July 18, 2009 4:13 PM EDT
Mr Obama scared me from the very start when you can't tell us your real name and where you were really born that is a real problem evertime he opens his mouth a lie comes out of it and that is a fact.
-------------

What's REALLY scary is people such as yourself may actually exercise their right to vote. Next time you chose to do so, might I suggest a simple coin flip? It'd be a more practical and more informed option for you.

[sharoncalla]

When you are born your parents bless you with a "name". The president was given the name Barrack Hussein Obama, if he could of chosen his own name, it would of been something so different. Perhaps, Adam, but alas it was out of his hands. He is a man with ideas, but he is given daily reports of what issues are demanding and what he can do. He is told by the congress, what to do. He attends meetings, he appoints people he thinks are the best for the job at hand. He has sleepless nights. He has agreed to take the job of rebuilding the U.S.A. we are in times of despair, a recession, high crime, bank woes, GM woes, could his job get any harder? Do you want the job? He is doing the best he can, trying to fix what he can, and encouraging the uneducated to get educated for the future. I admire him for the very fact that he even "accepted" the challenge. Now say something nice or please say nothing at all. Walk a mile in my shoes applies here. We don't know his stress, what he is told, and ect. It takes everyone working together and no bickering, he said in one of his meetings to the press, "I can't snap my fingers, or push buttons" to get actions. We have to roll up our sleeves and pitch in. We all must take this attitude. Here's to a better tomorrow. Pray for your president, I am sure he would appreciate it. Try really hard to be kind. Kindness is so welcome, everywhere.

[cs4466]

Just checking in.

Neocons crying? Check!
Republicans whining? Check!
President Barak Obama doing a good job? Check!
Secretary of State Hillary Clinton doing a good job? Check!

Excellent! Carry on!!

[cpqdk07191969]

Spitzer Geithner Daschle Richardson Blago Burris Edwards Kilpatrick Mahoney(followed Foley on morality crusade, then had affair) Kennedy Clinton

Obama's blunders:
ill fated plan to close Gitmo, getting spanked by his own party in Congress
Geithner Daschle Richardson
"Special Olympics" gaffe
"punch drunk" TV interview
Capt Phillips taken hostage
N Korea weapons testing, launched seven missiles in one day on 7/4/2009
NYC "photo op" flight
cancel F-22 program
bow to Saudi king
continuing Bush policies on drones, wiretaps, Gitmo detainees, free trade
GM debacle
Appointed a racist bigot to the Supreme Court
Appointed an obese woman to be Surgeon General

Just plain embarassing:
Carter

Dems still full of BS? CHECK!

[r9119111]

by chap07181969 July 18, 2009 2:50 PM EDT
This is happening on Obama's watch.

Obama is to blame

It's that simple!

OBAMA = One Big A** Mistake, America!


Your comment is just more GOP trash talk. The GOP creates the mess then blames it on the Democrats as efforts are made to clean it up. You can't deny that the GOP agenda is what caused this mess. With people like you and your kind, who needs enemies?

[ttinsly]

chap07181969, You know. The american people cannot be that stupid. Use logic about on one's clock. Why are republican's infallible to this rule. It seems like whenever something was wrong with Bush, it was clinton's fault. At the very least show some responsibility and admit to the fact that this started under Bush's clock. That the debt ballooned under bush, the distribution of wealth worsened considerably under Bush, as did the well-being of the poor and large segments of the middle class.

If you show some consistency, maybe you can convince people. In the meantime, the fact remains that governments with good democratic oversight and strict regulations and even nationalized banks, (Canada and India) have not been affected by this crisis. Obama's policies (that "communist") are a mere continuation of Bush's. Aid for these corrupt corporations, no accounting of the monies received, no nationalizations. A non-ideologue would at the very least want to study why countries with nationalized banking systems have avoided this crisis. They would also see about what good points could be learned from this. In the meantime, despite your babble, reality will trump it. The sheep's babble will not make the banks work again. And neither will it prevent the dollar from being destroyed, unless we seriously change our ways...

[John_Merritt]

Hey Tinsley:

You have this speech down pat. Can't say I agree with everything, but on many fronts you are absolutely right. Whatever the case, hunker down, because we are in for a long slog. Did not vote for Obama, but nobody could do any better, and he is not doing that good og a job YET. I hope he can turn it around, but I am starting to have my doubts. You guys have a great week.

[ttinsly]

PS. When the rest of the world finally drops our dollar laden with war-debt, of which they are already tired; and when they logically opt for a neutral currency and not an imperial currency (why after all, should the rest of the world have to use our currency which no longer represents a responsible country at the very least in terms of keeping its financial house in order?) I am not being subversive in asking this, the rest of the world is asking this right now. We need to know what they are asking themselves; because they are moving in this direction right now. America needs to see that whether our Fox news, and the public is in a 50's style inspired delirium of the US being the leader of right and all that jazz, well the rest of the world no longer buys it. It just doesn't. Our actions are just too blatant. No superficial change of presidency will change that, especially if the activities remain the same, and the Pentagon head remains as the same person under Bush. Even if we choose to be ignorant and see our country with rose colored glasses, the rest of the world knows our history knows our imperialist actions all over the world (especially the Middle east and Latin america) against democracies and dictatorships alike. Notwithstanding our rush to go to church on sundays, after listening to songs that degrade women children and make light of murder. Whatever we want to believe is no longer going to mean a darned thing. We can pretend that the US is the best country in the world, but when the rest of the world dumps our worthless imperialist dollars, that is when our ignorance is going to bite us in the ar*e. Closing your eyes will not make the problem go away. When this happens, we are going to be a third world country, or something approaching one in all respects. Surely, our "Wise" leaders will opt for war as the sure way to put money into the economy (instead of needed social programs, because it becomes 'socialism' when it is for the well-being of people) We will march on like good christian soldiers killing for profits and wealth, and will morph into our purely imperialist form until our empire definitively collapses or humanity is destroyed, whichever one we collectively choose to do...

Until then, have fun with your war video games that you give your children, your wars for profits and oil, your zeal for creating new WMD's and biological weapons. Our country is really hardly better than Iran, and certainly more dangerous and feared globally than it.

[reality42]

ttinsly
You are bang on great post and reality is what you are saying.
Time for America to throw out the bums of to be to fail and let the markets work the way they should . with out Government interferance

[ttinsly]

This economy is going to get worse and Obama is not going to be able to fix it. Obama is going to be too little too late, even as our Soviet Media will try to sell him as some radical; because the elite is painting him as the evil sacrificial cow for all of the evil that they have sponsored. The neocon attempt at global domination has left Americans with rightful suspicions of our government's activities and democratic legitimacy and transparency. We know our government is lying; and this economic mess, and deficit, and socialism for the wealthy and our deficit military spending is only a confirmation of this. The neocon economy is what caused this to begin with. But conservative OBama has opted for socialism for the wealthy who caused this mess in large part to begin with. Only banana republics would not require any accounting for the massive Bank aid that has been received. And our daily reality is confirming that we are presently living in a banana republic, not because of OBama but because multinationals and the pentagon (its ally) runs the show and not our own government. THis is only the beginning, baby. The empire is falling! If you have a way to get out do so now. In the meantime stop supporting multinational corporations, and their elites, buy local shop local, keep your money local. These vampire parasites have to go. If they have their way, the next sweatshops will be in your neighborhood, if we are not careful.

[walt1944]

Larry Summers says the economy is getting better because less people are googling "economic downturn"!

Tim Geitner says he can see a "light at the end of the tunnel!"!!

The Labor Department says there were ONLY 533,000 new unemployment claims last week!

Obama has ordered that all government offices hang a picture of the cartoon character Alfred E. Newman from MAD Magazine which will carrying Newman's famous words; "What? Me Worry?"!!!!

Maybe someone SHOULD!!!!!!

HAIL OBAMA????????????

[jetranger7]

Its all part of Corporate Americas secret plan to turn this country into a 3rd World Country,, its been brewing since the late 1980's,, its time Americans get their heads out of their butts and wake up and pay attention,, to whats going on and do something,, insteaded of talking about it,,, but they won't because their clueless and Naive and well to be blunt- Ignorant !!! ohh ya- Lazy too, they want or hope 1 person will come along and save the day so they won't have to put forth any effort,, and can just sit back and reap whatever benefits from whatever somebody else did to make things better,,,,, Wake Up- sleepy Americans,,, get your heads out of your butts, before its too late !!!!

[bajajohn1]

And how are things in Narnia?

[reality42]

The world is looking at how the American people deal with the goverment lies and coruption. Your post is very true and the world knows the lazyness and arrogants of Americans waiting for someone or something to happen to bring all there wealth back.

[txlakeside]

Mr-Man ... Was it a rogue GOV in 87 when the Savings and loans were seized?... dumb as dirt and still PO'd that Obama is President is not a good argument for your cause. The FDIC has seized 100's if not 1000's of failed "CAPITALIST" money institutions that were mismanaged since inception and many during your trickle down messiah's Reagan tenure!. They are what protect you paltry savings as you obviously do not have much money insured. Dumb as dirt and a FAUX news addict as well!!

[tautomer]

Congress was Democrat during the S&L crisis just like today. While we had Republican congresses from 2001 to 2006 there were 22 bank failures or an average of 3.75 per year. Since we got a Democrat congress in 2007 there have been 84 bank failures in just 2-1/2 years or an average of 34 per year!!!!

It's funny how Dems always want to ignore he correlation between Deomcrat Congresses and bad economic results.