Detective Krum Ten more banks were closed on Friday October 30, 2009. October 2009 saw 20 banks fail. That makes the total failed banks for 2009 – 116.  Consider, 27 banks failed from the year 2000 through 2007  making an average of 3.9 bank failures per year. When TARP was passed by Congress and arm twisting began in Congress to pass massive bank bailout money to selected banks, bank failures skyrocketed in 2008 and 2009. Was the bank bailout money designed to squeeze out smaller banks... Read Full Story

Detective Krum Total bank failures so far for 2009? 106  Three of the latest bank failures – Florida.  Partners Bank located in Naples, Florida  Hillcrest Bank, also in Naples, Florida and Flagship National Bank of Sarasota, Florida.  Minnesota and Wisconsin felt the bank failure sting as well. Riverview Community Bank located in Otsego, Minnesota and Bank of Elmwood in Racine, Wisconsin failed. The bank failure list continues to grow in spite of Congress’ claim of saving banks th... Read Full Story

Detective Krum San Joaquin Bank in Bakersfield, California failed October 16th and makes the 99th bank failure in 2009.  FDIC, in need of its own bailout, posted the following information: San Joaquin Bank, Bakersfield, California, was closed today by the California Department of Financial Institutions, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. FDIC entered into a purchase and assumption agreement with Citizens Business Bank, Ontario, California, to assume ... Read Full Story

Detective Krum I know this may be a bit off topic from my normal posts however, I have looked at the treaty and some other information and felt it necessary to save our Republic, this needed to be posted. The following information has been provided to me and is not my original work but the source is credible. Below is a picture of President Barrack Hussein Obama appearing in Copenhagen and follow the story and download a copy of the treaty. Remember, a treaty can be signed by a president and ... Read Full Story

Detective Krum Florida’s best banks aren’t based on service or location but on banking strength ratings.  When I looked at all (A) rated banks throughout the whole state of Florida, I found only five (A) rated banks and here they are: Drummond Community Bank in Chiefland, Florida Rated (A+) First Federal Bank in Lake City, Florida Rated (A) Hillsboro Bank in Plant City, Florida Rated (A-) First National in Mount Dora, Florida Rated (A-) City National in Miami, Florida (A-) Peoples... Read Full Story

Detective Krum Could your bank safety deposit box be seized without reason?  It appears, according to Steve Quayle, one reason for the devaluation of the dollar and bank failures has an anterior motive – the introduction of a new currency, the North American Union new money and according to Steve Quayle, some larger Midwestern banks have sent  Steve a copy of the forms. The New York Post reported the dollar loses reserve status to the yen and euro. This is not good news for Americans as... Read Full Story

Detective Krum With 98 bank failures this year you would think the United States Congress knew what they were doing.  Passing trillions of dollars in bank bailouts and sending US working people the bill in spite of about 86% of Americans opposing the bank bailouts you can understand Rush Limbaugh’s comments. Rush said, “We can’t pay everybody’s mortgage forever. Besides, we’re deepening the problem because we’re delaying the market correction that will happ... Read Full Story

Detective Krum Discussions of merging banks with credit unions, at least from a Congressional standpoint, appears being considered. “It’s not necessary or reasonable for Congress to lump credit unions with the banking industry in seeking to shorten the compliance deadline for remaining Credit CARD Act requirements to this Dec. 1,” according to the National Association For Credit Unions. Download a copy of the Credit Card Accountability Act here. The Amendments are here and here. I... Read Full Story

Detective Krum Questions have been sent that I must get out of the way first. American Founders Bank based in Lexington Kentucky – their rating is an (E) and the Bank of Bonifay in Bonifay Florida is rated (E-).  It appears the Bank of Bonifay may fail and soon so I would caution depositors, FDIC insurance will not cover deposits over $100,000 and the temporary increase of insured deposits at $250,000 could be a problem because FDIC reported it needs a bailout. For Bank of Bonifay custo... Read Full Story

Detective Krum SunTrust Bank – banking blues. As financial reports come through and TARP funds examined you can begin to  understand the SunTrust Bank blues.  SunTrust Bank appears to have over extended their reach in mortgage areas, particularly in the south. This over reach affects their borrowing power with other banks and lenders. Let me ask you a question.  If you had a bank and your bank lost a lot of money on foreclosures, how would you compensate your bottom line?  What does Sun... Read Full Story