1.30.2009

Bank Failure Friday -- MagnetBank, Salt Lake City, UT; Suburban Federal Savings Bank of Crofton, MD; and Ocala National Bank of Ocala, FL

Happy Bank Failure Friday, everybody!

Sheila Bair is still going after the small fry while hoping Geithner and Bernanke can pull a few trillion dollars out of taxpayers' asses to save the big banks.

Today it's MagnetBank of Salt Lake City.

UPDATE: Triple play! Suburban Federal Savings Bank of Crofton, MD, and Ocala National Bank of Ocala, FL, bite the dust.

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Quotations from Chairman Varones

There are very few financial problems that can't be solved by a suitable application of asset bubbles.