Bank Failures Hit 78
Bank failures hit 78 on Friday putting them on a course that could that will take them over 200 in 2010. Sun West Bank, Las Vegas, NV Granite Community Bank, NA, Granite Bay, CA, Bank of Florida – Tampa Bay,…
Sun West Bank, Las Vegas, NV Granite Community Bank, NA, Granite Bay, CA, Bank of Florida – Tampa Bay, Tampa, FL, Bank of Florida – Southwest, and Naples, FL Bank of Florida – Southeast, Fort Lauderdale, FL were closed by the FDICThe FDIC said that the cost of closing the banks would be about $317 million. The agency ran out of money last fall and was forced to make member banks prepay their premiums through 2012 to raise $45 billion. The Treasury Department is concerned that the sum may not be adequate to cover bank closure costs for the next two years, which would be taxpayers would be be tapped to cover the additional expenses.
Douglas A. McIntyre
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Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.
McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.
His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.
A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.
TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.
McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.
