Add 10 More Banks to Failed List in October

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 by bailing out  bigger banks whose CEO just happened to be politically connected?  Large bank stock is inching upwards and profits to upper-management through bonuses is becoming a trend. Consider 26 banks failed in 2008 and now 116 in 2009. Makes you wonder if the large banks were allowed to fail, maybe the smaller banks would not have failed, doesn’t it?

Add the following banks to the list of bank failures for 2009:

North Houston Bank	Houston	TX
Madisonville State Bank	Madisonville	TX
Citizens National Bank	Teague	TX
Park National Bank	Chicago	IL
Pacific National Bank	San Francisco	CA
California National Bank	Los Angeles	CA
San Diego National Bank	San Diego	CA
Community Bank of Lemont	Lemont	IL
Bank USA, N.A.	Phoenix	AZ
First DuPage Bank	Westmont	IL

If you have investment products, in a bank, your investments are not insured by FDIC according to FDIC.  As usual, FDIC waits until Friday to close ten more banks.  One might ask, in whose best interest is it to wait until late on a Friday to close a bank?

6 More Bank Failures – 3 in Florida

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 through bailouts.  One might ask, ‘What banks did the American taxpayer bailout?  Is there a connection between the banks bailed out and Congress representatives? ‘  106 bank failures in ten months – AFTER – bank bailouts leads our readers to ask – What was the purpose of the bailout money?

Here is a copy of the press release.

First Federal Bank of Florida, Lake City, Florida, Assumes All of the Deposits of Flagship National Bank, Bradenton, Florida

FOR IMMEDIATE RELEASE October 23, 2009

Flagship National Bank, Bradenton, Florida, was closed today by the Office of the Comptroller of the Currency, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with First Federal Bank of Florida, Lake City, Florida, to assume all of the deposits of Flagship National Bank.

The four branches of Flagship National Bank will reopen on Monday as branches of First Federal Bank of Florida. Depositors of Flagship National Bank will automatically become depositors of First Federal Bank of Florida. Deposits will continue to be insured by the FDIC, so there is no need for customers to change their banking relationship to retain their deposit insurance coverage. Customers should continue to use their existing branch until they receive notice from First Federal Bank of Florida that it has completed systems changes to allow other First Federal Bank of Florida branches to process their accounts as well.

This evening and over the weekend, depositors of Flagship National Bank can access their money by writing checks or using ATM or debit cards. Checks drawn on the bank will continue to be processed. Loan customers should continue to make their payments as usual.

As of August 31, 2009, Flagship National Bank had total assets of $190 million and total deposits of approximately $175 million. First Federal Bank of Florida did not pay the FDIC a premium for the deposits of Flagship National Bank. In addition to assuming all of the deposits of the failed bank, First Federal Bank of Florida agreed to purchase essentially all of the assets.

San Joaquin Bank, Bakersfield, CA Fails 99th Bank Failure This Year

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 all of the deposits of San Joaquin Bank.

The five branches of San Joaquin Bank will reopen on Monday as branches of Citizens Business Bank. Depositors of San Joaquin Bank will automatically become depositors of Citizens Business Bank. Deposits will continue to be insured by the FDIC, so there is no need for customers to change their banking relationship to retain their deposit insurance coverage. Customers should continue to use their existing branch until they receive notice from Citizens Business Bank that it has completed systems changes to allow other Citizens Business Bank branches to process their accounts as well.

This evening and over the weekend, depositors of San Joaquin Bank can access their money by writing checks or using ATM or debit cards. Checks drawn on the bank will continue to be processed. Loan customers should continue to make their payments as usual.

As of September 29, 2009, San Joaquin Bank had total assets of $775 million and total deposits of approximately $631 million. Citizens Business Bank did not pay the FDIC a premium for the deposits of San Joaquin Bank. In addition to assuming all of the deposits of the failed bank, Citizens Business Bank agreed to purchase essentially all of the assets.

The FDIC and Citizens Business Bank entered into a loss-share transaction on approximately $683 million of San Joaquin Bank’s assets. Citizens Business Bank will share in the losses on the asset pools covered under the loss-share agreement. The loss-share arrangement is projected to maximize returns on the assets covered by keeping them in the private sector.

Obama Poised to Cede US Sovereignty in Copenhagen, Claims British Lord Monckton

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 America would be bound to the treaty. Reuters reports 3 scenarios here.

President Obama's 1st Copenhagen Trip

Obama’s last visit to Copenhagen didn’t work out so well for the USA.

The Minnesota Free Market Institute hosted an event at Bethel University in St. Paul on Wednesday evening. Keynote speaker Lord Christopher Monckton, former science adviser to British Prime Minister Margaret Thatcher, gave a scathing and lengthy presentation, complete with detailed charts, graphs, facts, and figures which culminated in the utter decimation of both the pop culture concept of global warming and the credible threat of any significant anthropomorphic climate change.

A detailed summary of Monckton’s presentation will be available here once compiled. However, a segment of his remarks justify immediate publication. If credible, the concern Monckton speaks to may well prove the single most important issue facing the American nation, bigger than health care, bigger than cap and trade, and worth every citizen’s focused attention.

Here were Monckton’s closing remarks, as dictated from my audio recording:

At [the 2009 United Nations Climate Change Conference in] Copenhagen, this December, weeks away, a treaty will be signed. Your president will sign it. Most of the third world countries will sign it, because they think they’re going to get money out of it. Most of the left-wing regime from the European Union will rubber stamp it. Virtually nobody won’t sign it.

I read that treaty. And what it says is this, that a world government is going to be created. The word “government” actually appears as the first of three purposes of the new entity. The second purpose is the transfer of wealth from the countries of the West to third world countries, in satisfication of what is called, coyly, “climate debt” – because we’ve been burning CO2 and they haven’t. We’ve been screwing up the climate and they haven’t. And the third purpose of this new entity, this government, is enforcement.

How many of you think that the word “election” or “democracy” or “vote” or “ballot” occurs anywhere in the 200 pages of that treaty? Quite right, it doesn’t appear once. So, at last, the communists who piled out of the Berlin Wall and into the environmental movement, who took over Greenpeace so that my friends who funded it left within a year, because [the communists] captured it – Now the apotheosis as at hand. They are about to impose a communist world government on the world. You have a president who has very strong sympathies with that point of view. He’s going to sign it. He’ll sign anything. He’s a Nobel Peace Prize [winner]; of course he’ll sign it.

[laughter]

And the trouble is this; if that treaty is signed, if your Constitution says that it takes precedence over your Constitution (sic), and you can’t resign from that treaty unless you get agreement from all the other state parties – And because you’ll be the biggest paying country, they’re not going to let you out of it.

So, thank you, America. You were the beacon of freedom to the world. It is a privilege merely to stand on this soil of freedom while it is still free. But, in the next few weeks, unless you stop it, your president will sign your freedom, your democracy, and your humanity away forever. And neither you nor any subsequent government you may elect will have any power whatsoever to take it back. That is how serious it is. I’ve read the treaty. I’ve seen this stuff about [world] government and climate debt and enforcement. They are going to do this to you whether you like it or not.

But I think it is here, here in your great nation, which I so love and I so admire – it is here that perhaps, at this eleventh hour, at the fifty-ninth minute and fifty-ninth second, you will rise up and you will stop your president from signing that dreadful treaty, that purposeless treaty. For there is no problem with climate and, even if there were, an economic treaty does nothing to [help] it.

So I end by saying to you the words that Winston Churchill addressed to your president in the darkest hour before the dawn of freedom in the Second World War. He quoted from your great poet Longfellow:

Sail on, O Ship of State!
Sail on, O Union, strong and great!
Humanity with all its fears,
With all the hopes of future years,
Is hanging breathless on thy fate!

Skimming through the treaty, I came across verification of Monckton’s assessment of the new entity’s purpose:

38. The scheme for the new institutional arrangement under the Convention will be based on three basic pillars: government; facilitative mechanism; and financial mechanism, and the basic organization of which will include the following:

World Government (heading added)
a) The government will be ruled by the COP with the support of a new subsidiary body on adaptation, and of an Executive Board responsible for the management of the new funds and the related facilitative processes and bodies. The current Convention secretariat will operate as such, as appropriate.

To Redistribute Wealth (heading added)
b) The Convention’s financial mechanism will include a multilateral climate change fund including five windows: (a) an Adaptation window, (b) a Compensation window, to address loss and damage from climate change impacts [read: the “climate debt” Monckton refers to], including insurance, rehabilitation and compensatory components, © a Technology window; (d) a Mitigation window; and (e) a REDD window, to support a multi-phases process for positive forest incentives relating to REDD actions.

With Enforcement Authority (heading added)
c) The Convention’s facilitative mechanism will include: (a) work programmes for adaptation and mitigation; (b) a long-term REDD process; © a short-term technology action plan; (d) an expert group on adaptation established by the subsidiary body on adaptation, and expert groups on mitigation, technologies and on monitoring, reporting and verification; and (e) an international registry for the monitoring, reporting and verification of compliance of emission reduction commitments, and the transfer of technical and financial resources from developed countries to developing countries. The secretariat will provide technical and administrative support, including a new centre for information exchange [read; enforcement].

Florida’s Best Banks

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 Bank in Graceville, Florida Rated (A)

There are 22 banks in Florida rated in the (B) ratings. If you need more information on Florida banks, send a message.

Bank Safety Deposit Boxes Seized

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 the United States Congress continues to fleece America and Americans. Read the article here.

What will you do if you walk into your bank and ask to have access to your safety deposit box or account information and you are handed a letter like the Midwestern Banks have provided that says;

Dear (Bank deleted) Customer:

As you may have heard through the news media or learned via a recent visit to (bank deleted), regulations have been imposed limiting access to your financial accounts with our institution. Please understand the withdrawal limits imposed yesterday by governmental organizations including the Internal Revenue Service, F.D.I.C., Federal Reserve, as well as Executive Order (number withheld) signed by President Barack Obama on (date withheld) require us to limit you to a total combined weekly withdrawal of five hundred (500) dollars from one or a combination of all accounts held at (bank name deleted) every seven (7) business days until authorization is received from proper authorities to eliminate this restriction. Again, we apologize for this inconvenience and ask you to realize this situation is totally beyond our control. We regret the difficulty the withdrawal limits imposed on your checking, savings, IRA, and credit-line accounts at (bank deleted) have caused. We hope to continue to serve your banking needs as we truly value your patronage and ask for your understanding in this matter. Please contact us at our toll-free number, (number deleted), if we can provide further assistance.

Sincere yours,

(Name of bank president withheld)

There are several pictures for proposed “new” money available here. But a sample is below.

Rush Limbaugh – Love Him or Hate Him – He Got it Right

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 happen automatically if we just get out of the way and let it. But these are central planners. They know better than you.” Rush isn’t the only one making the claim bailouts aren’t fixing the problems. See here.

Nick Carey of Reuters (see here) writes , “Eight months later, the plan is plagued by delays, red tape and, some critics say, a reluctance by banks to do their part. Just 17 percent of eligible borrowers have had their loans modified and monthly payments cut. Hardly any have been given a cut in the amount they owe on homes which are now worth less.

That means many successful applicants are left with loans that they still will not be able to afford in the long run. So instead of resolving the housing crisis that pushed the U.S. economy into recession, America may be prolonging it and, in the process, stunting the global recovery.

“Every single policy we’ve seen has merely kicked the problem down the road,” said Laurie Goodman, a veteran analyst at broker-dealer Amherst Securities Group LP, which specializes in residential mortgage-backed securities.

Rush said “We’re now at 50% youth unemployment. If these kids can’t find jobs now, when they’re young, when they’ll learn all about working, what’s going to happen to them when they hit their twenties and thirties? We’re looking at a permanent welfare state being created on purpose by this president and his administration.” see here.

One must ask why then, is Congress moving to willfully destroy America?  The answer may be as World Net Daily reported here, “A plan to replace the dollar with a world currency originated with Columbia University economics professor Robert Mundell, who won a Nobel Prize in economics in 1999 for creating the euro and is now widely regarded as “the father of the euro.”

Robert Mundell

Mundell, currently an economic consultant to China, is the originator of the suggestion that the International Monetary Fund should utilize Special Drawing Rights, or SDRs, to replace the dollar as a new standard for holding foreign exchange reserves in international trade transactions.

SDRs are international reserve assets calculated by the IMF in a basket of major currencies allocated to the IMF’s 185 member nation-states in relation to the capital. The assets are largely in gold or widely accepted foreign currencies the members have on deposit with the IMF.

The current trend is to mail every Congressman/woman a pink

slip and fire them next election cycle.