Monday, August 17, 2009

FYI 8/17/2009

"Feds Seize Colonial Bank, 6th-Largest Failure In U.S. History August 15, 2009
BB&T buys Colonial deposits, branches; four other banks fail "

Read more:

Colonial Bank was a large mortgage institution, according to CNN this may cause large ripples in the housing market - through any and every bank.

That means interest rates go +++++

This one bank's closing will cost the FDIC 3 billion dollars

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