AmTrust was closed by the Office of Thrift Supervision this evening, with New York Community Bank assuming all deposits.
Also, three more banks in Georgia were closed today.
Source link: http://archive.mises.org/11163/amtrust-update/
AmTrust update
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Federal agencies are playing muscial chairs in regards to who gets stuck with the bad assets.
It’s already been decided: the taxpayers.
“Office of Thrift Supervision”. Sounds like something invented by Ayn Rand. Or Charles Dickens.
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