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IPFS News Link • Bailouts

Warning: FDIC may take over Colonial Bank in Alabama ($26 billion in assets) next Friday

08/08/2009 • Investment Watch

Guess the FDIC/fed will have their hands full since Colonial Bank in Alabama ($26 billion in assets) will likely be seized in the next few weeks - looks like another big bank collapse is coming. Ain’t nothin’ pretty about this train wreck! “…The banking board will meet Wednesday to discuss whether to allow John Harrison, state banking superintendent, to seize Colonial and turn it over to the FDIC The FDIC is waiting on an order for a freshly printed $26 Billion before moving on it. There is a waiting list for new cash. Goldman & Treasury get first dibs.

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