On Friday Federal regulators closed the Colombian Bank and Trust Company, a Kansas-based bank saddled with unsustainable real estate loan losses.
Click for Regulators Shut Kansas Bank
Columbia Bank and Trust is the ninth FDIC insured bank to go under this year, with ninety others considered at risk. In 2007, only three banks failed.
And so the FDIC serves up another “Friday Night Special” praying we don’t notice just how bad the housing sector really is.
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1 Kevin Pierce // Aug 24, 2008 at 11:50 pm
WHAT’S IN YOUR WALLET?
NEWSWIRE–A Kansas bank has become the ninth closed by federal regulators this year, amid bad real estate loans and falling housing prices.
Not dollars or drachma or krona or kips,
No sheqel or shilling or rand,
Not ruble or rupee or money in clips:
No sawbuck, a fifty, a grand.
Not penning or fenning or guilder or gold,
No euro or florin or francs,
What we’re counting today is not bills that will fold,
But banks.
http://www.newsandverse.com
Light verse, ripped from the headlines
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