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Source link: http://archive.mises.org/11163/amtrust-update/

AmTrust update

December 4, 2009 by

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.

{ 3 comments }

Christopher December 5, 2009 at 7:57 am

Federal agencies are playing muscial chairs in regards to who gets stuck with the bad assets.

Seattle December 5, 2009 at 12:11 pm

It’s already been decided: the taxpayers.

Marc Sheffner December 5, 2009 at 8:19 pm

“Office of Thrift Supervision”. Sounds like something invented by Ayn Rand. Or Charles Dickens.

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