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	<title>Stock Market News &#38; Stocks to Watch from StraightStocks &#187; backup insurance</title>
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		<title>Is the FDIC Bankrupt?</title>
		<link>http://www.straightstocks.com/market-commentary/is-the-fdic-bankrupt/</link>
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		<pubDate>Tue, 18 Aug 2009 18:33:47 +0000</pubDate>
		<dc:creator>Contrarian Profits</dc:creator>
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		<description><![CDATA[h2strongAlabama regional lender, Colonial Bank, just became the 6th largest bank failure in U.S. history and the largest since Washington Mutual last year.br /
/strong/h2
div class="entry"
pRegulators seized Colonial last Friday, selling the bank’s deposits and assets to their competitor BB#38;T. Colonial was founded by real estate developer, Robert E. Lowder in 1981. The bank stayed true to its roots, right to the end (of the housing bubble)./p
pIn a 2006 interview, Lowder said, “We’ve always been a real estate bank. We understand real estate lending. For us, we think it’s a good safe market to be in.” Evidently, they didn’t understand the market as well as they thought. The bank sunk under the weight of $1.7 billion in losses on bad real estate loans./p
pstrongThe#8230;/strong/p/div]]></description>
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