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I am looking for the current FDIC "Problem Bank List" that the media and FDIC has referred to in various reports, but cannot locate it. Does anyone know where that can be found?
I did find the failed bank list on their site, but this list reports banks which have failed since October 1, 2000. I am looking for the list of potential and problem bank list.
It's probably in an obvious place, I just haven't found it. Thanks all!
With Indy mac failing, it is wake up time folks. The most amazing part of this story is that despite it being obvious for months this bank would fail, over 10,000 of their customers had above the $100,000 FDIC insured amount in their accounts. Those people are screwed. Above is the link to the national site that will provide quarterly financials to most all banks and credit unions nation wide. It provides a simple star rating system and is recognized as being highly accurate. I suggest checking your bank's ratings. Notice that Indy Mac had a ZERO star rating since March!!!!!! Yet all these people kept above $100,000 on deposit? Crazy, stuff.
Oh, and be sure and tell us your bank and how they rated after you look it up. Anything below 3 stars I would suggest keeping a close eye on. Anything below two stars, I would suggest banking elsewhere, quickly!
This was posted by travelmate 38 and IMO a great post.
Here is the link...when I copied his post the link didn't copy, sorry. Bank Ratings
This is very good information when it comes to ratings. I checked all of our credit unions and banks, and they are all listed as either 4 or 5 stars, at present.
However, the site pages are fairly bland and looking up either a credit union or bank can be a bit confusing since the pages look almost identical. I'm posting the link to the specific lookups in the event a person is looking for a credit union or a bank (you can't lookup a credit union on the bank search page and visa versa):
Seems like there's a lot of report selling on the rest of the site, but it's good to know ratings exist.
I still, unfortunately, could not find a link to the FDIC's "Problem Bank List". It may be based on the ratings, but having that official list is definitely what I would like in my hot little hands (or hot little screen).
I am looking for the current FDIC "Problem Bank List" that the media and FDIC has referred to in various reports, but cannot locate it. Does anyone know where that can be found?
I did find the failed bank list on their site, but this list reports banks which have failed since October 1, 2000. I am looking for the list of potential and problem bank list.
It's probably in an obvious place, I just haven't found it. Thanks all!
The list is kept secret to prevent a run on those banks.
Seriously, though, it exists and someone must have access to the information on this list as I can't imagine it not being public record.
Why do you think you can't find the list? It's because it really is a big secret.
See this quote from a New York Times article.
"Even though losses tend to be heaviest on those least able to afford them, Mr. Young said, it would be unwise for the F.D.I.C. to begin publicizing its list of troubled banks, because it would create needless alarm about banks that are troubled but will not fail. Closely Guarded Secret."
Thanks, HappyTexan, for the helpful link! Looks like good information.
Quote:
Originally Posted by iGlenn
Why do you think you can't find the list? It's because it really is a big secret.
See this quote from a New York Times article.
"Even though losses tend to be heaviest on those least able to afford them, Mr. Young said, it would be unwise for the F.D.I.C. to begin publicizing its list of troubled banks, because it would create needless alarm about banks that are troubled but will not fail. Closely Guarded Secret."
Edit: The article is from 1992 but that doesn't change the fact that the list is still a secret.
Wow. You weren't kidding, iGlenn. I thought you were simply being humorous.
Nevertheless, even though we're talking about a citing from 1992, I see no reason why such a 'secret' would not still be under protection by the FDIC. Now, I find it almost strange that the FDIC would even continue to publicize the existence of such a list or, for that matter, indicate how many troubled banks are currently on that list. Seems like the same people who would panic knowing the identities of the listed banks would just panic, anyway, and apply concern to their, otherwise, healthy non-troubled bank.
That pretty much answers my question, however. Unless posters want to discuss more the pros and cons of keeping such a secret from the public, that's all good with me.
If they were join accounts it covers upot 200,000. But it is amzing how so mnay had over the limit even tho they could ahve spresd it around and been covered. You would think that having that kind of money they would ahve moire snap but appearently poeple that sold a house for example left the money in one individaul account.especailly since about 500 banks failed in the 80's.
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FDIC "Problem Bank List"?
Haha, funny. 
But, then again, no. 
