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This clip will give you a better indicator of small lenders’ agenda as they met with the President to talk about expanding lending. The only commentary I would note is the desire by the IBCA President to allow the FDIC to keep its regulatory role.
See also Community Bankers Meet With Obama as Regulation Fight Heats [...]

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This comes from the blog News from 1930 on financial news from this day in… 1930 (I don’t what they plan to do after New Year’s Day):
Bankers Trust of Philadelphia closed after heavy withdrawals; had 135,000 depositors, total deposits $42.5M; Penn. Sec. of Banking says financial situation in Philadelphia sound, no reason for depositors in [...]

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Cynical? Yes. Spot on? Of course.
This is what happens when government stops trying to defend consumer interests for the benefit of business interests.

Source
‘I’m going to shop around and find a rip-off bank that works for me’ – Kipper Williams, Guardian
See also OFT gives up unfair bank charges fight and OFT drops bank account [...]

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This comes via the FT:
Latvia’s prime minister has warned Swedish banks they risk choking off recovery in the Baltic state’s crisis-hit economy unless they resume lending.
Banks such as Swedbank and SEB, which dominate the Latvian market, have reined in credit as they struggle to contain rising bad loans amid the deepest recession in the European [...]

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Hat tip Prieur du Plessis.
Source
Tom Toles – Washington Post, 21 Dec 2009.

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Hat tip Prieur du Plessis

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Great article in this week’s Barron’s featuring commentary from a number of distinguished market observers including our own Marshall Auerback and Baseline Scenario’s Simon Johnson (hat tip Barry Ritholtz).

The last of the big banks have repaid their TARP funds, but that won’t end the debate over their rescue and subsequent success. President Obama has jumped [...]

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This is bank failure #140 and it has $6.1 billion in assets.
First Federal Bank of California, a Federal Savings Bank, Santa Monica, California, was closed today by the Office of Thrift Supervision, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement [...]

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They keep coming and this one is big. It is #139.
Capital Bank, La Jolla, California
Imperial Capital Bank, La Jolla, California, was closed today by the California Department of Financial Institutions, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with City [...]

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No buyer for Citizens State Bank, New Baltimore, Michigan. Uninsured depositors may get stiffed.
Citizens State Bank, New Baltimore, Michigan, was closed today by the Michigan Office of Financial and Insurance Regulation, which then appointed Federal Deposit Insurance Corporation (FDIC) as receiver. To protect the depositors, the FDIC created the Deposit Insurance National Bank of New [...]