Dow down 128 points as of a little while go.
UPDATE: No huge disaster – closed down at 180, or something, but better than yesterday. We’ll see next week, I suppose.
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Yeah, it’s only down about 1,750 in the last month, that won’t even leave a mark. 😦
…and we have our first bank failure of the week already.
FDIC losses estimated at nearly $300M and a loss share agreement on nearly $1B in assets. How can we afford this week after week after year?
The bad part:
FDIC has had to be re capitalized a half a dozen times in the past few years. The good part:
FDIC has huge list of non performing assets that can be had for as little as 10 cents on the dollar.
@fred I misspoke yesterday, the FDIC closed a PA. bank on Thursday. The total for the week stands at four with almost zero press coverage as usual.
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