fdic steals jasper banking company

[what]

they are now a new group of carpet baggers in town

[procon1]

what wrote:

they are now a new group of carpet baggers in town

post specifics. Did they put an FDIC person in there like they did at Gilmer Bank and then that guy became the buyer? Or are they trying something new. that is a good local bank,. or was ...

[itsa wonderfullife]

procon1 wrote:

post specifics. Did they put an FDIC person in there like they did at Gilmer Bank and then that guy became the buyer? Or are they trying something new. that is a good local bank,. or was ...

http://www.pickensprogressonline.com/index.ph...

"Jasper Banking Company, Jasper, Georgia, was closed today by the Georgia Department of Banking and Finance, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with Stearns Bank National Association, St. Cloud, Minnesota, to assume all of the deposits of Jasper Banking Company."

minnesoter sounds like union country to me. isn't THAT convenient.

[itsa wonderfullife]

itsa wonderfullife wrote:

http://www.pickensprogressonline.com/index.ph...

]

the following comment is waiting for editor's approval over at the progress:

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Please correct me if I'm wrong but sounds like bank profits will now leave our county and head north into union territory. Time for creative brainstorming to nip it in the bud.

WHATEVER our community's reaction becomes, top priority MUST BE making sure any action taken (e.g. switching banks) does NOT direly affect Pickens County friends and family still currently employed at the now former JBC.

Has been my understanding these takeovers were blamed largely on the housing crisis and Community Reinvestment Act (CRA). Just FYI, American [Spectator] has a new article "And You Thought the Housing Crisis Was Over!" by William Tucker (2012.07.27) claiming a similar CRA type deal is in the works. The AmSpec writer claims Feds will be taking over credit rating agencies insinuating a CYA situation. According to AmSpec, credit for should go to Elizabeth Warren and the new Consumer Finance Protection Bureau (CFPB).

Very dark, dark day, indeed.
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referenced american spectator article is at http://spectator.org/archives/2012/07/27/and-...

[what]

procon1 wrote:

<quoted text>
post specifics. Did they put an FDIC person in there like they did at Gilmer Bank and then that guy became the buyer? Or are they trying something new. that is a good local bank,. or was ...

What?

[Reality]

I've written several posts on how the banks are looting the country.

But the People are so dumbed-down, drugged, and misinformed, they are in a catatonic haze.

See:

http://www.topix.com/forum/city/ellijay-ga/TJ...