Like I said yesterday- America's "recession (Depression)" is FAR from over and here is the biggest bank failure so far in 2009...
The Associated Press reports that Colonial BancGroup Inc.- headquartered in Montgomery-AL and a big lender to real estate developers- has failed.
The bank's assets and operations were taken over by the Federal Deposit Insurance Corp.. The bank will reportedly "re-open" as BB&T Corp. branches- but the AP story doesn't state what the BB&T corporation is into.
Does it matter what an American corporation is "into"- other than take in American taxpayer welfare?
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