From Oct. 1, 2000, through April 20, 2010, Georgia ranked first among U.S. states for the most bank failures, according to FDIC data. Illinois and Florida tied for second.
NEW YORK (AP) – Regulators on Friday shut down seven banks in Illinois, putting the number of U.S. bank failures this year at 57.
Seven banks in IL this week? What is going on in IL? and GA? I understand FL w/ the RE speculation but IL?
Coincidently, one of the IL banks shut down this week was Obama’s buddy Giannoulias’ family bank, who is running for Obama’s seat. Alexi says he is running to turn around IL’s economy. LOL. Your bank goes bust and you want to take over IL’s economy after crying out that the only reason your bank went bust is you didn’t get a bailout from the FEDS!
Broadway Bank was owned by the family of Illinois Treasurer Alexi Giannoulias, a Democrat who is running for President Barack Obama’s old Senate seat. The bank was heavy into real estate loans and lost $75 million last year.
“My campaign for the United States Senate goes forward, with a renewed determination to turn Illinois’s economy around and to fix what’s broken in Washington, D.C.,” Giannoulias said.
“Unlike the big Wall Street banks, there was no bailout for my father’s bank,” Giannoulias said, fighting back tears at a news conference at a Chicago hotel. “It is an incredibly sad and heartbreaking day for me and for my family.”