BANK BUST FRIDAY !!!!

[marmar]

Bank Closing Information
July 8, 2011


Signature Bank, Windsor, CO
Colorado Capital Bank, Castle Rock, CO
First Chicago Bank & Trust, Chicago, IL


www.fdic.gov

[originalpckelly]

1. That's one serious process too.

It's pretty freaky, I remember seeing it covered on the news.

It's like a military operation.

[susanr516]

2. It really is a covert operation

My ex was a senior examiner for the FDIC, now retired. He worked a lot of the failures in the 80s. He wouldn't even tell me where he was going. FDIC would use examiners from different regions, fly them into several different airports, they stayed in different hotels, they only met the team on the late night Thursday meeting, when they all got their assignments. The failures almost always happen at close of business Friday, so there's as little disruption as possible.

This NPR story really nails it, from what I know of the operations.

http://www.npr.org/templates/story/story.php?storyId=102384657