Two more US banks fail, nearly
Saturday, July 26th, 2008I’m losing count now, but I think these are respectively the sixth and seventh US banks to fail this year. Well, technically they didn’t fail. What happened was in one fell swoop, the FDIC lost $862 million, and First National Bank of Nevada and First Heritage Bank NA of California will reopen on Monday as branches of Mutual of Omaha Bank.
Well,I don’t want to spoil your weekend. If you want to read more about the above, here’s the link.
If you want to do something about reducing your own exposure to US banks, here’s the link.
If you want to visit Panama City in November and discuss this in person with like-minded individuals, and work out strategies to profit from the current chaos, here’s the link.