Jul. 27th, 2009 @ 10:33 am
According to Guaranty, they're NOT under FDIC yet......they're awaiting a private investor.....
Dunno what's going on....well, I Do - but not with them. :lol:
Guaranty may fall under the Office of Thrift Supervision; I'm not sure. Chad, the reporter at the DBJ who's been following the situation, says Guaranty will fail any day now, and he doesn't seem to think they'll find that investor they're looking for. FDIC/OTS will probably find another bank to purchase Guaranty's assets. The switchover typically happens on a Friday so they have the weekend to change everything over. Check dallas.bizjournals.com for updates.
Thanks - I found that one, and went to the Austin Statesman for their version...the problem is that Ch. 8 ran a story Friday at 6 that Guaranty was GONE, don't go to the bank as the Feds will be there yadda yadda yadda. According to Guaranty yesterday, not true - they are looking for an investor, etc.
I think they're almost gone, but what do I know?
Your deposits are insured; All that will happen as far as the consumer goes is that the bank's name will change. I saw a 60 Minutes segment a while back that showed what happens when a bank fails. It's fascinating: http://atlantis.cbsnews.com/2100-100_162-4848047.html
So the bottom line is that next Monday, instead of Guaranty, you may be a customer of Wells Fargo. Or Chase. And I KNOW how excited you'll be about that! ;)
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