Turnberry Bank, once a thriving bank in Aventura, was taken over by the FDIC and closed on July 16. I knew it was coming because they have been a zero bank on Bauerfinancial's ratings for a long time. As it says on the sign: "Your money is safe!" But all these neighborhood bank closures, they couldn't be good for the local economy. There were State Trooper cars outside the bank Saturday and a whole lot of people inside scrambling. I saw 3 people at a desk with through a window. An FDIC guy came out because I was taking pictures through the windows after I was barred by a guard from the ante-lobby. He reluctantly let me take these photos of the door. Maybe the Chamber of Commerce should put some of their focus on the banking industry, where people also have jobs in jeopardy, real jobs, not temporary jobs.
Which bank is next?
4 comments:
Metro Bank in South Dade was also closed on Friday.
Which bank is next? Take your pick from the list of 796 banks in the below referenced link. Each bank has some enforcement action against it, which is viewable.
http://calculatedriskimages.blogspot.com/2010/07/unofficial-problem-bank-list-july-16.html
The media focuses on the failure of the bank only. And how bad this is for the community. Why is what happened to Turnberry Bank bad for the community?? The acquiring entity has a ton of money! This means that they will be able to lend money to small,medium and large companies while other banks in the area continue to be strangled by the requlators because of bad loans.
They should just print more money and give it to the poor little banks and let them continue to make loans to people who will not pay them back.
That's good for the comunitty. While we are at it lets raise the minimum wage to $50 an hour so we can all live comfortably and provide free healthcare for everyone. I also think food and gas should be free it would make make balancing my budget a lot easier.
Where we talking about banks? I think all loans should carry 0 interst that would make it easier to pay them back, wouldn't hurt if we could pay them when we had enough money to do so instead of having to stick to a pesky payment arrangement.
Shouldn't every family get a free car? that would make it easier to get around and car washes would make a lot of money and employ lots of people.
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