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I am sure by now you have all heard of the "Bank Holiday's" being planned by our foreign embassies. Now comes this very disturbing news (HT The Market Ticker)... One Of Three Down; Is The FDIC Still Solvent? Here we go! Colonial, Alabama’s second-largest bank, is being closed by regulators today, the person said, becoming the largest U.S. bank failure of 2009 after an expansion into Florida saddled the lender with more than $1.7 billion in soured real-estate loans. The FDIC usually waits until the close of business Friday; they must have had a slight problem with withdrawals...... Left unsaid is what's going to happen to the FDIC deposit insurance fund on this one - my guess is that it will be ugly, as these guys were up to their necks in Florida on development projects that went bad. The "value" of that paper may be very close to zero; if the FDIC avoids doing one of their 40% loss deals I will be quite surprised. A 40% loss on this one would, if my m

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