Large Texas bank shut down by federal regulators »
Posted By Striker101 4 months ago in News
Guaranty Bank became the second-largest U.S. bank to fail this year after the Texas lender was shut down by regulators and most of its operations sold at a loss of billions of dollars for the U.S. government to a major Spanish bank.
The transaction approved by the Federal Deposit Insurance Corp. marked the first time a foreign bank has bought a failed U.S. bank.
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Striker101
Lifetime self-employed designer/builder/solar, realtor, retired and busier than ever writing about the moral foundation for Life and Liberty. Ongoing collapse is the critical ...
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Striker1014 months ago
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I am constantly amazed that the FDIC can get away with such instant resales to anyone they choose. When talking about billions in assets, how can the best buyer or the an appropriate price be chosen with virtually non-existent analysis?
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Strange also that this sale was to a bank in Spain.
Can anyone explain how this really works?
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