Silver as an investment

05.30.14 Bank Failure Friday: Slavie FSB in Bel Air, MD becomes Number 9 in 2014

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johngaltfla.com / by John Galt / May 30, 2014 18:55 ET

Since we need something to spice up the old tired idea of bank failures, I present this hilarious, if not a tad raunchy video from the YouTube user “ScreenTeam” and their parody of “Sail” with “FAIL” which is oh so appropriate for the FDIC’s need to seize banks on one hand while lying and telling us the industry is healthy on the other.

And now the FDIC Press Release to entertain my readers:

Bay Bank, FSB, Lutherville, Maryland, Assumes All of the Deposits of Slavie Federal Savings Bank, Bel Air, Maryland

FOR IMMEDIATE RELEASE
May 30, 2014

Slavie Federal Savings Bank, Bel Air, Maryland, was closed today by the Office of the Comptroller of the Currency, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with Bay Bank, FSB, Lutherville, Maryland, to assume all of the deposits of Slavie Federal Savings Bank.

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