Georgia leads the nation in bank failures since 2008 with 63 total since 2008 and 13 already occurring this year. The House of Representatives wants to know more about the FDIC’s role in bank failures.
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GREED, GREED and more GREED, combined with ignorance caused these banks to fail. They issued too many high risk loans in relation to the assets they held. They never imagined that the default rate on these loans would be higher than expected.
Unfortunately, the small town banks were not too big to fail, like Bank of America, Chase, etc. so they did not get any bailout money.