Sunday, October 23, 2011
Saturday, October 22, 2011
Teach Your Children Mandarin - Jim Rogers
I am preparing my children for the 21st century, the most important gift that I ca give them, or skill that I can give them is to speak fluent mandarin.
Banks closed in Colo, Fla, Ga; 84 failures in 2011 - Yahoo - News
news.yahoo.com/banks-closed-colo-fla-ga-
WASHINGTON (AP) — Regulators on Friday closed two banks in Georgia and one each in Florida and Colorado, raising to 84 the number of U.S. banks that have failed this year.
The number of closures has fallen sharply this year as banks have worked their way through the bad debt accumulated in the recession. By this time last year, regulators had shuttered 139 banks.
The Federal Deposit Insurance Corp. seized the four banks. The largest by far was Community Banks of Colorado, based in Greenwood, Colo., with $1.38 billion in assets and $1.33 billion in deposits. Also shuttered were Community Capital Bank, Jonesboro, Ga., with $181.2 million in assets and $166.2 million in deposits; Decatur First Bank, Decatur, Ga., with $191.5 million in assets and $179.2 million in deposits; and Old Harbor Bank, Clearwater, Fla., with $215.9 million in assets and $217.8 million in deposits.
Community Banks of Colorado was a state-chartered institution and under the supervision of the Federal Reserve. The Fed appointed the FDIC receiver of the bank after determining that it had been "critically undercapitalized" since July 29.
The Fed said in a statement that it also consulted with Colorado's banking commissioner.
Bank Midwest, based in Kansas City, Mo., agreed to assume the assets and deposits of Community Banks of Colorado. In addition, the FDIC and Bank Midwest agreed to share losses on $714.2 of Community Banks of Colorado's loans and other assets.
The bank's failure is expected to cost the deposit insurance fund $224.9 million.
State Bank and Trust Co., based in Macon, Ga., agreed to assume the assets and deposits of Community Capital Bank. Atlanta-based Fidelity Bank agreed to acquire the assets and deposits ofDecatur First Bank, while 1st United Bank, based in Boca Raton, Fla., is assuming the assets and deposits of Old Harbor Bank.
In addition, the FDIC and State Bank and Trust agreed to share losses on $141.3 million of Community Capital Bank's assets. The agency and Fidelity Bank are sharing losses on $111.5 million of Decatur First Bank's assets. The FDIC and 1st United Bank are sharing losses on $155.6 million of Old Harbor Bank's assets.
The failure of Community Capital Bank is expected to cost the deposit insurance fund $62 million. The failure of Decatur First Bank is expected to cost $32.6 million; that of Old Harbor Bank, $39.3 million.
Georgia and Florida have been among the hardest-hit states for bank failures. Regulators closed 16 banks in Georgia and 29 in Florida last year. The failures of Community Capital Bank and Decatur First Bank brought to 22 the number of Georgia lenders shut down this year. Old Harbor Bank was the 12th bank shuttered in Florida.
California and Illinois also have seen large numbers of bank failures.
In all of 2010, regulators seized 157 banks, the most in any year since the savings and loan crisis two decades ago. Those failures cost around $23 billion. The FDIC has said 2010 likely was the high-water mark for bank failures from the Great Recession.
In 2009, there were 140 bank failures that cost the insurance fund about $36 billion, a higher price tag than in 2010 because the banks involved were bigger on average. Twenty-five banks failed in 2008, the year the financial crisis struck with force; only three were closed in 2007.
From 2008 through 2010, bank failures cost the fund $76.8 billion. The FDIC expects failures from 2011 through 2015 to cost $19 billion.
The deposit insurance fund fell into the red in 2009. With failures slowing, the FDIC's fund balance turned positive in the second quarter of this year; it stood at $3.9 billion as of June 30.
Friday, October 21, 2011
Top Ten Rules For Silver Investing - by David Morgan
http://www.silver-investor.com/
1. When all else fails , there is silver.
2. Start small - keep it simple.
3. Boost the power of your dollars with mining shares.
4. Dollar - cost average to lower your costs - increase your discipline.
5. Do not get a raw deal from your dealer.
6. What's yours is yours - so keep it that way.
7. Silver speculation like cough syrup - good in small doses, but too much can make your portfolio sick.
8. A little information can mean a lot more dollars.
9. Collectable silver is an art - but not really an investment.
10. More than 25% is too much of a good thing.
1. When all else fails , there is silver.
2. Start small - keep it simple.
3. Boost the power of your dollars with mining shares.
4. Dollar - cost average to lower your costs - increase your discipline.
5. Do not get a raw deal from your dealer.
6. What's yours is yours - so keep it that way.
7. Silver speculation like cough syrup - good in small doses, but too much can make your portfolio sick.
8. A little information can mean a lot more dollars.
9. Collectable silver is an art - but not really an investment.
10. More than 25% is too much of a good thing.
Bridgewater Associates the Largest Hedge Fund in the World (125 billion in assets) is bigger than the entire market cap of Silver!
Bridgewater manages approximately $125 billion in global investments for a wide array of institutional clients, including foreign governments and central banks, corporate and public pension funds, university endowments and charitable foundations. Approximately 1,200 people work at Bridgewater, which is based in Westport, Connecticut.
Founded in 1975 out of a two-bedroom apartment, Bridgewater remains an independent, employee-run organization. Throughout its 36-year history, Bridgewater has been recognized as a top-performing manager and an industry innovator, winning 20 industry awards in the past five years alone. In both 2010 and 2011, Bridgewater ranked as the largest and best-performing hedge fund manager in the world. Its clients and employees routinely give Bridgewater top satisfaction ratings in annual surveys. Disclaimer: Silver did not pay "The Silver School" to write to this.
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