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Is Your Money Safe?

July 16, 2008

I have never been the type of person that got involved in politics before. I feel the widespread panic going on in our nation is caused by our economy along with the monopoly being played with oil. I have a very big and new concern. Is your money safe? Banks are already in trouble. Are we headed for a recession as big as the 1920’s? This is what I read on the front page of the morning paper. Look at today’s headlines.

Stemming a Bank Crisis: Regulators, Banks Try to Calm Nation

Seeing Bad Loans, Investors Flee From Bank Shares

Economic angst: Could your bank be the next to fail?

Recession Watch: 5 Reasons Banks Face More Trouble

Banks are supposed to be (FDIC) insured by the federal government. 90 bank watch list as published by The Bank Implode Meter, these are banks that have all been audited and written up for something. After doing a little research I found most of the banks on the watch list, many of the banks on this list are still in good standing. The ones that you will need to keep an eye on are the banks on a “Level 3”. These are the banks that could be headed for serious trouble.

Level 3 watch Bank List.

  1. Merryl Lynch 7-11-08
  2. Lehman Brothers 7-11-08
  3. Bank of America 7-08-08
  4. Citigroup 6-28-08
  5. Watchovia (near level 3)
  6. US Bancorp (near level 3)
  7. Washington Mutual (near level 3)
  8. National City (near level 3)


List of Failed Banks.

  1. IndyMac BankCorp
  2. Carnation Bank
  3. First Integrity Bank
  4. ANB Financial
  5. Hume Bank of Hume, MO
  6. Douglas National Bank
  7. Miami Valley Bank
  8. Net Bank
  9. Metropolitan Savings Bank
  10. St. Luke Baptist Credit Union
  11. Huron River Credit Union
  12. Green Tree Federal Credit Union
  13. Sharebuilders Federal Credit Union
  14. Freemont General
  15. Bear Stearns
  16. Northern Rock PLC
  17. Coast Bank

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