Tuesday, December 08, 2009

Failed banks R not us

From last week and sent in by the NS readership: WSJ had a neat if depressing Google maps mash up of failed banks across the nation in the recession.  The one little tiny little dot on Pittsburgh is Dwelling House in the Hill.

One additional thought... I think Dwelling House is the only Pennsylvania bank to go under.  That would be worth noting. My quick eyeballing of it, but I think Dwelling House is the smallest bank on that list as well. 


Anonymous John Morris said...

The tiny Metropolitan Savings bank in Lawrenceville went under in 2007.
It had assets of 15 million.

Wednesday, December 09, 2009 4:57:00 PM  
Blogger John Morris said...

On a much bigger scale, Capmark financial, one of the country's biggest real estate lenders, based in Horsham, PA went under on October 24th.

This was the former commercial real estate arm of GMAC.

This ain't over by a long shot. The FDIC troubled bank list is near 550, many operating under desist orders.

On a positive note, human flesh is a nutritious food source.

Wednesday, December 09, 2009 5:12:00 PM  
Blogger JRoth said...

Just a reminder: Dwelling House went under largely due to that massive wire fraud. Its inherently risky business model didn't help, but there's no doubt that, if the fraud hadn't happened, DH would still be in business.

Friday, December 18, 2009 12:36:00 PM  

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