FDIC to Consider Buy One Get One Free Failed Bank Sales?

Monday, December 07, 2009 , , 1 Comments

Bwhahahahahahahahaha good luck with this.

Atlanta Business Journal:

There is speculation in the banking industry that the Federal Deposit Insurance Corp. could start holding more two-for-one sales, so to speak, for failing banks.

And Georgia, which has seen the most banks fail nationwide since August 2008, could be a state with a lot of blue light specials.

Thus far in the failed bank sweepstakes, the FDIC has disposed of Georgia banks individually, or failed a series of related banks (such as the five banking subsidiaries of Security Bank Corp.).

But there is much speculation that some deals to come in Georgia might involve the bundling of a relatively desirable bank with another bank that is either in an undesirable location geographically or that has so little franchise value it is unlikely to be acquired alone in an FDIC-assisted transaction.

WSJ has the damage so far. +1 for the bouncy graphics.

Jr Deputy Accountant

Some say he’s half man half fish, others say he’s more of a seventy/thirty split. Either way he’s a fishy bastard.


OldSouth said...

Now that's a real Blue-Light Special, K-Mart Shoppers!

Or, we could stage 'Let's Make A Deal', with the purchaser offered what was behind doors 1, 2, or 3(or they could keep the can of Rotel tomato sauce!)

This could be fun, gang!