Another More Dustbiters (Updated)
0
The fundamentals of the economy are sound(ing hollow). Follow the link and S-E-C for yourself (emphasis added):
Birmingham, Ala.-based Regions Bank has agreed to assume all of FirstBank’s deposits and purchase roughly $17 million of the failed bank’s assets, the FDIC said.
Federal regulators shut down a bank in Southern California and another in the Atlanta area on Friday, bringing the number of U.S. failures this year to eight, while marking the 33rd collapse since the recession began.
McDonough, Ga.-based FirstBank Financial Services and Culver City, Calif.-based Alliance Bank were seized, according to the Federal Deposit Insurance Corp.
Birmingham, Ala.-based Regions Bank has agreed to
assume all of FirstBank’s deposits and purchase roughly $17 million of the failed bank’s assets, the FDIC said.
In other news, the green line is Bush 43’s:
Addendum:
The little indie pizza place across from the restaurant where I ate supper has given up the ghost.
The little sewing store just up the road has ditto.
One of the little businesses in the office building at the foot of the street ditto.
All within the past few weeks.
Republican Economic Theory works. It does, indeed, make the poor poorer.
