American Marine Bank to Convert on Monday
The North Olympic Peninsula has three branches of the failed American Marine Bank. Three of them are located inside a Safeway.
This Monday the bank will reopen under the ownership of Columbia State Bank. The FDIC says all deposits are safe, and all regular transactions — loan payments, check processing, access to accounts — can proceed the same as before.
This Monday the bank will reopen under the ownership of Columbia State Bank. The FDIC says all deposits are safe, and all regular transactions — loan payments, check processing, access to accounts — can proceed the same as before.
Labels: American Marine Bank, Columbia State Bank
posted by Tom Harper at 5:57 PM
23 Comments:
Yikes, another local bank failure. That's what, about three in the last few months? Pretty soon there'll only be a couple of behemoths left!
Ha ha ha, you deleted my comment, whatever, I have blogs also so you can't stop me from saying anything I like. :-)
As we keep being told, everything is great, and getting better.
Just go out a buy lots of stuff. Better yet, take out loans and ring up more credit card debt.
This is not the time to be a negative, doom-and-gloom naysayer. Get out there and obligate yourself to big debt, NOW!
as long as government keeps getting bigger, we are doomed.
Thanks, George W. Bush, for effectively nationalizing the banks with your deregulation poicies. Who knew he was really a European Socialist at heart?
That sucks, but not unexpected. There's still a lot of bad debt out there, and still a lot of crud to work through our financial system. We've hit bottom, but it's going to take awhile before we're stable again. Kind of like falling through a soft spot in snow. Even after you stop falling you still have to crawl your way out. At least this is orderly failing. Even after my bank failed, I still had access to my money. That doesn't make this churn less scary, but it could be a lot worse.
Yep, it's all Bush's fault...just like the earthquake in Haiti. You libs crack me up!!
It's been a warm winter...Bush's fault!
Anonymous 9:34 -- Thank you for your sane and rational comment. You're exactly right. We WILL recover, it will take some time, however. You don't have to go into debt, or behave like a robot chanting "Everything is fine" -- but keep a positive outlook and keep on keeping on.
he he heh! Yeh it's Presdent Bushes fault according to the libs. He he heh! You crazy libs it is O'Bammy's fault cos he's a commie and he wants to make us all islomic comrades. he he heh!Now he gonna bring over the Hatien hoodooists and get them on the welfares. yeh. he he heh!
As that troll has returned with their nonsensical idiocy, I thought it was appropriate to post the following, as they obviously assume the "position" opposite to "libs":
"Republicans and Right wing activisits refer to themselves as being members of the Tea Party, and called themselves "teabaggers". As some of you may know, "teabagger" has another meaning, which I think applies to both groups: definition of "tea bagger": "a man that dips his scrotum and testicles into the mouth of another person". Alternatively: " A Teabagger is an individual who with an open mouth allows a male individual to drop his testicles into the first individual's mouth."
Sounds just about right for the crap this person keeps posting. Never anything helpful or positive. WE can see why, with what is on THEIR minds.
"capitalist said...
as long as government keeps getting bigger, we are doomed."
This is REALLY dumb! The population of the US keeps growing by millions each year, but the number of people to service them is supposed to decrease?
Are you saying this for ALL services, across the country? Lines at the Emergency room, post office, or Burger King, or "pick-a-place" aren't long enough, and the wait times aren't long enough already?? You want LESS service??
Face it, there are more and more people every day. And more and more money has to be spent to service all their needs.
It's just basic math.
Yep... that's it....we need the government to run the auto industry, take over banks, now they want to run health care? Our forefathers did not see it this way. Can't you see it, the current administration does not want prosperity, they want people dependent on them. The more people dependent on them, the more that will vote for them, and the more taxes they will take.
so, you're saying that our blogger trolls are scrotal suckers?
Hmmm, interesting. I hadn't thought that they were attractive enough to entice anyone to want to get naked with them. Oh, wait, maybe they PAY for that? Gotcha.
capitalist sez:
"Yep... that's it....we need the government to run the auto industry, take over banks, now they want to run health care? Our forefathers did not see it this way. Can't you see it, the current administration does not want prosperity, they want people dependent on them."
What short memories we seem to have! I remember that "Maverick", Republican/conservative John McCain suspending his presidential campaign to rush back to Washington to use his powers of persuasion and influence to get that multi-billion dollar bank bail-out passed. The current president clearly inherited the economic problems from the previous administration.
Here in Port Angeles, the previous administration couldn't plan ahead to fund such basics as road maintenance, or long time public amenities such as the pool. But they sure could funnel public monies to their favorite "projects".
But, you didn't address the basics of the ever increasing populations, and needs for services.
A potato has a better memory. And better grammatic skills ("LMAO!!!!!!").
The economy collapsed under Bush and twenty five of republican fiscal misrule. TARP was created by Bush to bail out his banker friends, thus effectively nationalizing the banking industry.
Capitalist/Rex/Sally/whoever-you-are-today, you might want to know about what you're talking about. Not that that ever stopped a "conservative" from bloviating ad nasuem.
"What short memories we seem to have! I remember that "Maverick", Republican/conservative John McCain suspending his presidential campaign to rush back"
Don't forget, banks started loaning money to people who could not afford to pay the loans becuase Barney Frank and his croonies forced them too.
What services are you talking about? Unemployment? food stamps? welfare? free and reduced lunches? These are all tax and spend initiatives, rob from the one who work and give to the lazy asses who don't.
As for immigration, check it out, it's working well, another government run disaster
"...and the more taxes they will take."
Right...And then we'll see our Senators and Congressmen and the President suddenly making millions of dollars - after they suck all us suckers dry, right? What naive idiocy.
And if you don't want to be "dependent" on big, bad government, might I suggest that you go build your own roads, staff your own police force, and make your own, personal trade agreements with foreign countries - for a start. (After that, things get difficult.)
Suddenly?
The average net worth of our legislators is $29million dollars! They get a salary, but the bulk of their added wealth comes in perks, outright bribes, and other lobby favor. How many times has a big corporation taken you on an all expenses paid vacation?
I thought not.
"Don't forget, banks started loaning money to people who could not afford to pay the loans becuase Barney Frank and his croonies forced them too."
Wow!? Where was I when the banks were forced to give money away??
"Wow!? Where was I when the banks were forced to give money away??"
Yes, where were you? Financial institutions were heavily pressured, even threatened with loss of their FDIC insurance, into making more home loans to support "THE AMERICAN DREAM". Paperwork was streamlined (read that as: not looked at) and "everyone" believed that the security of the house always going up in value would prevent the loan from going bad. Well, those days are done. The very predictable pendulum swing has home loans being very hard to get today. We have a long way to go to get out of this mess.
holy moly....some of you are off the mark. The banking industry has spent the last 20 years going for changes that would allow them to a.) charge any interest rate they felt like ...in other words gutting our usury law, which limited interest, b.) get rid of all the consumer protection laws that related to banking, c.) allow them to become nationwide banks -- which allowed them to sidestep various state laws, mostly regarding, again, to usury.
d.) allow banks/insurance/stock, etc. companies to merge, e.) change the bankruptcy laws so individuals could not be forgiven, easily, for credit debt.
I can cite the laws, if anyone is interested.
Meanwhile, large businesses have lobbied to create laws, restrictions, etc. so that it is very, very difficult for a small business to compete. This gives big business a huge edge. Laws have been voted in that put the burden of responsibility on small business -- greater taxes, no breaks, more forms, more oversight, more paperwork, more of everything. 30 years ago a small business spent no more than 2 hours a month doing state/federal paperwork, now it's more like 20 hour a month.
None of this matters what president -- it's been a slow march forward by lobby groups who have a very clear motive -- more profit, more profit, more profit, at our expense.
It's not left/right, Repub/Demo..that is a smokescreen to keep us fighting amongst ourselves. Our legislators are slaves to the lobby groups, not to us. We are too stupid, to silent, and too uneducated to pay enough attention.
And, the stupid is obvious in this thread. Wake up, get smart.
bull*hit the banks were "forced". Instead laws were changed. Ever hear of the Gramm-Leach-Bliley Act? It was passed in 1999 and repealed portions of the Glass-Steagall Act, (a piece of legislation from the era of the Great Depression that imposed a number of regulations on financial institutions). It was passed by a bi-partisan vote: passed the House 362 - 57, with 155 Democrats voting for the bill. The Senate passed the bill by a vote of 90 - 8. Among the Democrats voting for the bill: Obama's running mate, Joe Biden. The bill was signed into law by President Clinton. The bill, in its various forms was written by Republicans: U.S. Senate by Phil Gramm (Republican of Texas) and in the U.S. House of Representatives by Jim Leach (R-Iowa), and Rep. Thomas J. Bliley, Jr. (R-Virginia), Chairman of the House Commerce Committee from 1995 to 2001.
The Gramm-Leach-Bliley Act allowed commercial banks, investment banks, securities firms and insurance companies to consolidate.
By allowing banks and security companies to merge, allowed a lot of monkey business, namely, making loans THEN packaging them up and selling them as investment vehicles. The bill explicitly exempted security-based swap agreements (a derivative financial product based on another security's value or performance) from regulation by the SEC.
This means: THERE WAS NO OVERSIGHT.
The simpleton concept that it was banks who were forced by the government to make loans is like saying babies come by way of storks, or that the tooth fairy places coins under your pillow at night.
Don't be moronic!! It was a greedy move, the American Public was the victim, and the authors of the bill made out like bandits, as did the "poor" banks, and securities companies.
We don't need foreign terrorists, we have our own, passing bills like this, and a stupid public to not care.
Post a Comment
<< Home