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Author Topic: 6 bank failures cost the FDIC $1856.0 million  (Read 1648 times)

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Offline Tucker

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6 bank failures cost the FDIC $1856.0 million
« on: January 30, 2010, 11:38:30 AM »
http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=389x7605091

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FarCenter  (1000+ posts) Click to send private message to this author  Click to view this author's profile  Click to add this author to your buddy list  Click to add this author to your Ignore list      Fri Jan-29-10 11:32 PM
Original message
6 bank failures cost the FDIC $1856.0 million
   


American Marine Bank,           Bainbridge Island WA     $58.9 million
First Regional Bank,            Los Angeles CA          $825.5 million
Community Bank and Trust,       Cornelia GA             $354.5 million
Marshall Bank, N.A.,            Hallock MN                $4.1 million
Florida Community Bank,         Immokalee FL            $352.6 million
First National Bank of Georgia, Carrollton GA           $260.4 million
                                                       ===============
Total                                                  $1856.0 million

I just love DUmmy math.

Likely to be a small camp fire. Maybe I should have listed it as a stand alone post.

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BeatleBoot  Donating Member  (1000+ posts) Click to send private message to this author  Click to view this author's profile  Click to add this author to your buddy list  Click to add this author to your Ignore list      Fri Jan-29-10 11:34 PM
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1. So that's $ 1.8 BILLION?
   

Link?

Public smack down.

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conscious evolution  Donating Member  (1000+ posts) Click to send private message to this author  Click to view this author's profile  Click to add this author to your buddy list  Click to add this author to your Ignore list      Fri Jan-29-10 11:43 PM
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4. Have you ever looked up the ownership of the failed banks?
   
I looked up a couple of Georgia banks this summer.One had Zell Miller,William Bennet and former Ga SecState Cathy Cox listed as being board members.I posted this on another site.Next thing I knew the SEC filings and state corporate filings for many of the banks have been disappeared.

I think there is more to these banks failing then meets the eye.

It's gotta hurt to be that stupid.

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Offline jukin

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Re: 6 bank failures cost the FDIC $1856.0 million
« Reply #1 on: January 30, 2010, 11:47:22 AM »
I disagree with you.  I now always frame the 1.4 trillion dollar deficit under Obama and donk rule as 1,400 billion so ti gets a sense of scale to the average person.  I truly think that average people see 1.4 trillion and think it is less than 80 billion.  One cannot imagine a billion much less a trillion but they do see the difference between 1.4 and 1400.
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Offline Tucker

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Re: 6 bank failures cost the FDIC $1856.0 million
« Reply #2 on: January 30, 2010, 11:56:25 AM »
DUmmy's can't distinguish the difference between 1 Billion and a hundred thousand. Adding a bunch of zeros to a number is a waste of ink. Remember that to them, 250,000 is rich.
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Come to think of it, unions do create jobs. Companies have to hire two workers to do the work of one.

Offline Lord Undies

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Re: 6 bank failures cost the FDIC $1856.0 million
« Reply #3 on: January 30, 2010, 12:11:41 PM »
I told my daughter's friend just the other day that "Billion" was not just the next bead on the abacus -- A BILLION IS ONE THOUSAND MILLION!  

She wanted to know what an abacus was.  
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Offline The Village Idiot

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Re: 6 bank failures cost the FDIC $1856.0 million
« Reply #4 on: January 30, 2010, 12:14:57 PM »
Quote from: Lord Undies on January 30, 2010, 12:11:41 PM
I told my daughter's friend just the other day that "Billion" was not just the next bead on the abacus -- A BILLION IS ONE THOUSAND MILLION!  

She wanted to know what an abacus was.  

 :thatsright:
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Offline GOBUCKS

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Re: 6 bank failures cost the FDIC $1856.0 million
« Reply #5 on: January 30, 2010, 12:23:35 PM »
I guess I don't get it. I didn't do the arithmetic, but the DUmmy's math, for once, looks right to me. In business, if you read annual reports or budgets, the sums are normally expressed in millions. The number the DUmmy quotes would show as $1856 million, and would not be converted to $1.856 billion.
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Offline JohnnyReb

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Re: 6 bank failures cost the FDIC $1856.0 million
« Reply #6 on: January 30, 2010, 01:08:49 PM »
Quote from: Lord Undies on January 30, 2010, 12:11:41 PM
I told my daughter's friend just the other day that "Billion" was not just the next bead on the abacus -- A BILLION IS ONE THOUSAND MILLION!  

She wanted to know what an abacus was.  

That was a band from Sweden that cussed a lot...wasn't it?
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Offline BlueStateSaint

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Re: 6 bank failures cost the FDIC $1856.0 million
« Reply #7 on: January 30, 2010, 01:32:59 PM »
Quote from: JohnnyReb on January 30, 2010, 01:08:49 PM
That was a band from Sweden that cussed a lot...wasn't it?

Yeah . . . their big hit was "Effin' Dancing Queen."  It was about a gay top . . .  :tongue:
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Offline miskie

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Re: 6 bank failures cost the FDIC $1856.0 million
« Reply #8 on: January 30, 2010, 04:02:25 PM »
The primitive may have gotten this data from a British source - Our system is referred to as "échelle courte" and theirs is the older "échelle longue" -- here is a handy table illustrating the differences.

Code: [Select]
         United States      Britain
--------------------------------------------------------
thousand thousand
million    million
billion      thousand million (milliard)
trillion            billion
quadrillion thousand billion (billiard)
quintillion trillion
sextillion thousand trillion (trilliard)
septillion quadrillion
octillion thousand quadrillion (quadrilliard)
nonillion            quintillion
decillion            thousand quintillion (quintilliard)

So, the Primitive may be right - just depends on the system employed.
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