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Six Illinois banks failed today

Discussion in 'Sports and News' started by NoOneLikesUs, Jul 2, 2009.

  1. NoOneLikesUs

    NoOneLikesUs Active Member

    Seven in all around the country. More could be coming within hours.


    Happy Fourth!
  2. GB-Hack

    GB-Hack Active Member

    Is there a particular reason why this avalanche of failures is happening right now NOLU?
  3. The Big Ragu

    The Big Ragu Moderator Staff Member

    It would be because whatever government office regulates banks in Illinois decided to shut all of their doors today.

    It's a lot for one day, but there have to have been several dozen bank failures this year, so the avalanche has been ongoing, not just a one-day thing. I've seen estimates saying that 1,000 banks might fail in the next few years, so this is probably just the tip of the iceberg.
  4. 2muchcoffeeman

    2muchcoffeeman Active Member

    End of quarter, maybe.
  5. RickStain

    RickStain Well-Known Member

    My hometown and my parent's current town are among the tiny little towns in Illinois on that list.

    Combined populations right around 10k.
  6. Football_Bat

    Football_Bat Well-Known Member

    You usually don't hear about bank failures till the end of business on Friday. Tomorrow's a regular business day as far as I know, so this is unusual.
  7. waterytart

    waterytart Active Member

    Three-day weekend, FB.
  8. crusoes

    crusoes Active Member

    Yep. A lot of places, including my shop, are closed today for the holiday.
  9. Football_Bat

    Football_Bat Well-Known Member

    I understand, but when the 4th falls on a weekend, usually it's the following Monday that's the legal holiday.
  10. FileNotFound

    FileNotFound Well-Known Member

    When the 4th is Saturday, Friday is the legal holiday. When the 4th is Sunday, Monday is the legal holiday.
  11. three_bags_full

    three_bags_full Well-Known Member

    The Army is closed for business on Friday.
  12. 2muchcoffeeman

    2muchcoffeeman Active Member

    Unless some damn idiot somewhere in the world decides to start something, in which case the Army will bring in the fireworks show to finish what he started in a way aforementioned damn idiot never even imagined ... right? :D
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