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Amtrust Bank Going Down, another FDIC Makeover

By
Real Estate Agent with Florida Supreme Realty SL514814

I'm awaiting to hear if my inside track is correct.  I have yet to be able to verify this.  Since 2007 I've been tracking activity in the financial world through Implode-O-Meter and it's been a nasty ride to say the least.  If anyone out there has information to confirm I would certainly appreciate it.  When I was told of Amtrust's impending doom I really didn't know how to take it.  I'm more concerned that we are going to pay dearly for this and the plethora of others that will surely continue the demise of our banking industry.  While we're out rallying at our Tea Parties the Rum parties seem to be acquiring all the accolades.  

Nuclear Explosion

What is it that they say: He who has the most toys wins!  It's not fun & games anymore now is it. 

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Douglas Lovitt
Washington Management Company, Inc. - Mill Creek, WA

Is Amtrust a local bank where you are? I have never heard of them.

Feb 23, 2010 10:02 AM
Paul Roesch 618-233-1000
Palatium Auction and Appraisal Service, Real Estate Auctions, Estate, Moving, Downsizing Auctions 618-233-1000 USPAP ... - Webster Groves, MO
Real Estate Auctioneer CAI St Louis MO Auctions

Interesting Kevin, Did you check FDIC.gov.  There is no fun and games and its much worse than anyone is leaking.

Feb 23, 2010 10:02 AM
Sandy Shores FL Realtor®, Melbourne Real Estate
M & M Realty of Brevard Inc. - Melbourne, FL
Brevard County Real Estate, Florida's Space Coast

Hi Kevin, Scary stuff and I'm afraid we're going to be hearing more stories like this one.

Feb 23, 2010 10:53 AM
Kevin J. May
Florida Supreme Realty - Hobe Sound, FL
Serving the Treasure & Paradise Coasts of Florida

Douglas - they're nationwide I believe, they had absorbed an Ohio bank in the months prior which is what I think led to their problems.

Paul - thanks, I forgot to check it there.  We don't need another wave right now.

Sandy - I really wasn't expecting this until the summer.  I hope this is just an anomoly for now! 

Feb 23, 2010 02:33 PM