Daily Archives: November 1, 2009

Meltdown 101: What to know if your bank fails

American-Eagle-and-Flag--C10055018 By Bob L : NEWS AS I SEE IT!

With all these bank failures, I can see why the Obama Administration and the big banks are taking over banking is by not loaning them the money that they were suppose to loan to these banks to keep them from going under, but they with held money so they would go under, isn’t that what the bailout was for to keep them from going under, or was it to line the pockets of their buddies?
By EILEEN AJ CONNELLY, AP Personal Finance Writer

NEW YORK – Dozens of banks have failed this year. What do you need to know if yours is next?

The number of bank failures has reached 115 since January — more than four times the total for 2008 and the most since the savings and loan crisis in 1992. And most experts expect problems caused by unpaid loans to force many more closures in the coming years, mostly among small, community-based banks. Continue reading

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