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Watch The FDIC Seize A Bank
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Want to see the FDIC seize a bank? This thirteen minute video has 60 Minutes following the FDIC as they seize and close down the five branches of Heritage Community Bank, a Chicago bank that failed on February 27th, 2009, and was acquired by MB Financial Bank. Closed on a Friday, all branches were open on Saturday.
If you want to skip the build up and want to see what happens when they take over, it starts at around 5 minutes. People freaking out happens a little later on.
All your bank are belong to US.
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Very interesting video. I found the observation about smaller banks being wiped out while bigger ones are bailed out, particularly interesting.
Interesting video indeed.
MB is actually the bank I use. Pretty happy with them, so I hope it goes well for the heritage customers.
Wow that was a good video. And somewhat funny… esp the Indy part and the guy w/ the briefcase
“Secret online auction” Wow.
Glad to see it slightly anti-climactic.
I always agree w/ Daniel above, about smaller and bigger ones. Do we force regulation? Or size limitation? Both seem ugly.
haha – all your banks belong to us.
Very cool. Not the bank failing of course, but the behind the scenes look. I’m a geek like that.
Cool video/FDIC operation…. Too bad that won’t happen to CITI
Nice. I learned quite a bit from that video. Weird ad for a CBS Colonoscopy at the end though…
Wow, this was very interesting and enlighting.
I hope that they can come to some middle ground on how to support the smaller banks and the larger ones in order for everyone to thrive in our current economic situation.
be blessed!