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Economy
99 Red Banks
2009-10-17
Regulators shut down San Joaquin Bank in California on Friday, marking the 99th failure this year of a federally insured bank.

The Federal Deposit Insurance Corp. was appointed receiver of San Joaquin Bank, based in Bakersfield, Calif. It had $775 million in assets and $631 million in deposits as of Sept. 29.

The FDIC said the bank's deposits will be assumed by Citizens Business Bank, based in Ontario, Calif. Its five branches will reopen Monday as branches of Citizens Business Bank.

San Joaquin Bank's failure is expected to cost the FDIC's insurance fund $103 million.
Posted by:Anonymoose

#3  Appropriate, JM, since IIRC those balloons were Red ....
Posted by: lotp   2009-10-17 14:07  

#2  You beat me to it JM.

99 Decision Street.
99 ministers meet.
To worry, worry, super-scurry.
Call the troops out in a hurry.
This is what we've waited for.
This is it boys, this is war.
The president is on the line
As 99 red balloons go by.
Posted by: Free Radical   2009-10-17 13:38  

#1  California's Banks' missing monies are held in lofty "99 LUFTBALLOONS"???

Gut nuthin.
Posted by: JosephMendiola   2009-10-17 02:14  

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