List of Failed Banks Under Bush
If you want up-to-date in-depth analysis of the global financial crisis, read the RGE Monitor.
UPDATE 10 SEPTEMBER, 2008: Grim Reaper Comes for Washington Mutual (WM)
UPDATE 26 SEPTEMBER, 2008: J.P. Morgan Buys Washington Mutual
UPDATE 27 SEPTEMBER, 2008: Citigroup Buys Wachovia Banking Operations
Bush has pretty much gotten everything he’s ever wanted, so as far as he’s concerned, he and his wrecking crew see him as the biggest success that any corrupt administration has ever foisted on American citizens as well as the planet.
But for us common folk, Bush has been a miserable failure his entire life, and after hijacking the presidency has continued to fail in everything from the economy to the war to energy policy. Like every member of the GNP (Grand New Party), he consistently and gleefully backs deregulation and “non-accountability” for banking institutions and all corporate enterprise (“non-accountability” is the polite term for Ponzi schemes, i.e., swindling.)
Truly, we’ve been swindled by a stampede of greedy kindergartners.
On July 2, 2008, I posted to this blog about the Pending Meltdown of 6,000 banks and the complete breakdown of the American financial markets as predicted by a news report from Amsterdam.
Here is the growing list of banks which have failed under the Bush regime. Note the number that have failed this July alone. Source: FDIC
| Bank Name | Closing Date |
|---|---|
| First Heritage Bank, NA, Newport Beach, CA | July 25, 2008 |
| First National Bank of Nevada, Reno, NV | July 25, 2008 |
| IndyMac Bank, Pasadena, CA | July 11, 2008 |
| First Integrity Bank, NA, Staples, MN | July 25, 2008 |
| ANB Financial, NA, Bentonville, AR | July 25, 2008 |
| Hume Bank, Hume, MO | July 25, 2008 |
| Douglass National Bank, Kansas City, MO | July 25, 2008 |
| Miami Valley Bank, Lakeview, OH | July 25, 2008 |
| NetBank, Alpharetta, GA | July 25, 2008 |
| Metropolitan Savings Bank, Pittsburgh, PA | July 25, 2008 |
| Bank of Ephraim, Ephraim, UT | April 9, 2008 |
| Reliance Bank, White Plains, NY | April 9, 2008 |
| Guaranty National Bank of Tallahassee, Tallahassee, FL | July 25, 2008 |
| Dollar Savings Bank, Newark, New Jersey | April 9, 2008 |
| Pulaski Savings Bank, Philadelphia, PA | July 22, 2005 |
| The First National Bank of Blanchardville, Blanchardville, WI | July 25, 2008 |
| Southern Pacific Bank, Torrance, CA | July 25, 2008 |
| The Farmers Bank of Cheneyville, Cheneyville, LA | October 20, 2004 |
| The Bank of Alamo, Alamo, TN | March 18, 2005 |
| AmTrade International Bank of Georgia, Atlanta, GA | September 11, 2006 |
| AmTrade International Bank of Georgia, Atlanta, GA Spanish Version |
September 11, 2006 |
| Universal Federal Savings Bank, Chicago, IL | April 9, 2008 |
| Connecticut Bank of Commerce, Stamford, CT | July 25, 2008 |
| New Century Bank, Shelby Township, MI | March 18, 2005 |
| Net 1st National Bank, Boca Raton, FL | April 9, 2008 |
| NextBank, N.A., Phoenix, AZ | July 25, 2008 |
| Oakwood Deposit Bank Company, Oakwood, OH | July 25, 2008 |
| Bank of Sierra Blanca, Sierra Blanca, TX | November 6, 2003 |
| Hamilton Bank, N.A., Miami, FL Spanish Version |
July 25, 2008 |
| Sinclair National Bank, Gravette, AR | February 10, 2004 |
| Superior Bank, FSB, Hinsdale, IL | July 25, 2008 |
| The Malta National Bank, Malta, OH | November 18, 2002 |
| First Alliance Bank & Trust Company, Manchester, NH | February 18, 2003 |
| National State Bank of Metropolis, Metropolis, IL | March 17, 2005 |
| Bank of Honolulu, Honolulu, HI | March 17, 2005 |
And speaking of banks, The LA Times reports:
This is probably the most people we’ve ever seen use emergency food assistance. We’re seeing people who were making $70,000 a year coming into a food bank for the first time. . . They’ve used their retirement to pay their mortgage, and gone through their savings.—Darren Hoffman, communications director for the 35-year-old Los Angeles Regional Food Bank.
(Note: Because of space limitations, I had to cut the original chart to two columns–1) the name of the bank and 2) the date of closure. The third column on the original chart is the updated dates of the closures which varies months or years. Instead of simply including the link I wanted to offer a visual that summarized the fact that while the corporate media gives the impression that a handful of banks are failing, in reality, the list is much larger. And if you continue to visit the FDIC site, you’ll see that it continues to grow.)
Too bad the author changed the data in the list from the FDIC list…go to http://www.fdic.gov/bank/individual/failed/banklist.html for the actual list.
Rone
August 2, 2008 at 8:11 am
Too bad you don’t know how to understand what you read. How was the data changed? The author changed no data. The data used is the closed date not the open date. Only two banks had open failed cases before Bush took office.
Adam
August 31, 2008 at 1:00 am
Every bit of this mess is the fault of the democratic party. The only thing they want to do in surrender to our enemies.They have tried to destroy this country since George McGovern. The enemy did not seceed on 911, but now they will have their own man in the white house. I hope you enjoy your black muslim.
Carey
November 24, 2008 at 6:51 am
The point is not to lay the blame for the fiscal crisis at the feet of either party, for there is plenty of blame to go around for both. Both Democrats and Republicans have been shamefully beholden to corporate interests who have rolled back inconvenient regulation designed to protect average investors from a system that will not protect them on its own. But the philosophy that underlay these efforts—that markets work best when self-regulated—is a conservative article of faith that similar historical crises have repeatedly and blatantly exposed as fallacious.
For a more in-depth look at this reality, try The United States Has Essentially a One-Party System.
Regarding the comment about Obama you thought would sting: It’s sad that you allow yourself to be victimized by the likes of Limbaugh and his ilk, who are reductive and infantile in their “assessment” of other human beings. Their ability to suck all intelligence out of their listeners never ceases to astonish me.
luminaria
November 24, 2008 at 8:09 am
Check the list of all the failed banks at :
http://portalseven.com/Failed-Banks-2009
And on google map see where the banks are failing at :
http://portalseven.com/finance/Failed_Banks_Map_2009.jsp
Pravin
April 20, 2009 at 2:38 pm