3 more bank failures yesterday

Regulators close down two California thrifts and Community Bank of Loganville, Ga., raising the toll in the financial crisis to 22 banks.

http://money.cnn.com/2008/11/21/news/companies/bank_failure/index.htm?postversion=2008112123




Why do these banks always seem to go under on a Friday? There were 2 on Friday 2 weeks ago. It would almost seem like they don't want anyone notice.....




on edit: it looks like this is actually standard practice. This link shows all bank closures this decade and they all seem to be on Friday. I suppose it gives them the weekend to restructure.
http://www.fdic.gov/bank/individual/failed/banklist.html

Hell, most of the time, it's business as usual...maybe a 24-hour wait for ATM service to be restored.


Of course, if you just wanted to rant about your supposed "gun lovers", the facts need not apply...

to give them the weekend for a transition to the new owners. Monday they will back in operation.

...if these banks are closing quietly, so people don't catch on that small and mid-sized banks are tanking.

They're keeping people in the dark about the trend.

Right now, all of this is happening quietly. Bigger banks are buying up the smaller banks. No one is losing
money. No major drama.

Smaller and mid-sized banks will continue to fail. What happens when bigger banks have had their fill? Those small
banks will fail without a buyer. The transition for those with deposits won't be as easy. Then people start figuring
out that "FDIC insured" means maybe some wait time.

I remember when Washington Mutual went under. Many media reports claimed that the FDIC was stretched. That was one bank.
What happens when many small and mid-sized banks fail within months? Will those deposits really be insured? How long
will it take to recoup those deposits?

I'm skeptical for so many reasons. I'm skeptical because they are hiding the fact that the big fish are swallowing up
the small fish. Are they doing this because the big fish just received nearly a trillion in taxpayer money, and the government
doesn't want the people connecting the dots--and understanding that our tax dollars for the bailout have been used to
establish 4-5 mega banks in this country?

Just thoughts...but in this economy and with the BushCo crime syndicate still in the house--you have to wonder.