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Friday is the most common day for your friendly neighborhood regulator to lock the doors of your the local bank and take it over. The FDIC is keeping busy these days with yet another bank failure. On August 22, 2008 The Columbian Bank and Trust, Topeka,
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The FDIC took over IndyMac Bank on July 11, 2008 . It was the 5th bank failure in 2008. Shortly after taking over Indymac, the FDIC temporarily halted all IndyMac foreclosures on July 14, 2008 as reported by Reuters . FDIC chairwoman Sheila Bair has been
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For those of you that are worried about all the banks failing and not having any money I thought I would provide you a little bit of perspective. The following graph provides some perspective on the bank failures that have occurred since 1934. This data
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The Federal Reserve has officially approved the purchase of Countrywide by Bank of America . I am not surprised by this event. BofA and Countrywide have been working on this for months. I suspect that this purchase would have never been allowed if the
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