Dear CIGAs,
Where the FDIC has vended banks to the good ole boys with stated value guarantees on the junk paper, the bank is whole, not broke, if you think about it.
The junk paper that killed the bank is as good as a US treasury bill as it has a government agency guarantee without any doubt.
There is always cash and the junk paper now is excellent collateral. What gifts are being wrapped, tied with green ribbons, and given to the insiders?
If karma exists these horrid beings are in for a terrible future.
Jim Sinclair’s Commentary
We are now up to seven so far this weekend.
Bank Closing Information – July 23, 2010
These links contain useful information for the customers and vendors of these closed banks.
Home Valley Bank, Grants Pass, OR
SouthwestUSA Bank, Las Vegas, NV
Community Security Bank, New Prague, MN
Thunder Bank, Sylvan Grove, KS
Williamsburg First National Bank, Kingstree, SC
Crescent Bank and Trust Company, Jasper, GA
Sterling Bank, Lantana, FL
