SAN FRANCISCO (MarketWatch) -- Five more banks, including a California-based institution that reportedly received federal bailout funds in 2008, were closed Friday by regulators, bringing the 2009 total to 120 failed banks.
The latest banks to be taken over were United Security Bank of Sparta, Ga.; Home Federal Savings Bank of Detroit; United Commercial Bank of San Francisco; Gateway Bank of St. Louis and Prosperan Bank of Oakdale, Minn., according to the Federal Deposit Insurance Corp.
United Commercial, which had branches across the U.S. and also in Hong Kong and Shanghai, focused on the Chinese-American market in the U.S. and had obtained a very difficult to get banking license in China, the Los Angeles Times reported.
The Times said United Commercial received $299 million in federal bailout funds last year.
The FDIC estimated United Commercial's failure would cost its insurance deposit fund $1.4 billion.
It said United Commercial, whose U.S. and Chinese operatio
1 hour ago · UK tourist shot dead in Texas bar
(Mr Reeve, pictured with his baby daughter, died in hospital)
A British tourist has been shot dead in a bar in the United States.
Thomas Reeve was killed when a man entered the bar in Amarillo, Texas, and opened fire, says a local report.
A 48-year-old man was shot in the hand and a woman sexually assaulted, says the report. A 25-year-old man has been arrested by police, it adds. Mr Reeve's parents said: "He was just in the wrong place, at the wrong
2 hours ago · A leading member of Iran's parliament has said that Tehran will turn down a deal that would compel it to hand over its low-enriched uranium for fuel for a nuclear reactor.
Alaeddin Borujerdi, the head of parliament's national security and foreign policy committee, has said "we do not want to give part of our 1,200kg of enriched uranium in order to receive fuel of 20 per cent enrichment".
"This option of giving our enriched uranium gradually or in one go is over now," he told the ISNA news
2 hours ago · November 07, 2009
Categories:
* House
Bishops endorse the bill
The United States Conference of Catholic Bishops delivered a critical endorsement to House Speaker Nancy Pelosi on Saturday by signing off on late-night agreement to grant a vote on an amendment barring insurance companies that participate in the exchange from covering abortions.
"Passing this amendment allows the House to meet our criteria of preserving the existing protections against abortion funding in the new le
3 hours ago · The high school buddies who trolled the streets looking for Hispanics to attack called it "beaner hopping."
"Jose, Kevin and I started popping and Jose punched him so hard he knocked him out," Anthony Harfford told police.
Harfford said he didn't do it often: "Maybe only once a week."
There had been other high-profile attacks on a growing Hispanic population on eastern Long Island before Ecuadorean immigrant Marcelo Lucero was stabbed to death a year ago Sunday on a street corner.
Bu
3 hours ago · By RAQUEL MARIA DILLON, Associated Press Writer Raquel Maria Dillon, Associated Press Writer – Fri Nov 6, 9:41 am ET
LAS VEGAS – Puerto Rican duo Calle 13 won all five awards it was nominated for Thursday at the Latin Grammys in Las Vegas, including two of the top awards of the night and honors in both urban and alternative categories.
The awards show ran late because Mexico's "Divo of Juarez," Juan Gabriel, sang for 40 minutes straight while mariachis stomped on stage and the audience
7 hours ago · Ecuador has introduced electricity rationing after a drought led to acute water shortages at the country's main hydro-electric power plant at Paute.
There have already been blackouts in the capital, Quito, and the Pacific port city of Guayaquil, officials say.
They say power to residential areas will be cut by between 5% and 10%, but businesses will not be affected.
The drought, which has hit the Andes region, is the worst in four decades, correspondents say.
The Paute plant, in east
12 hours ago · WASHINGTON — Capping months of months of struggle, House Democrats cleared an abortion-related impasse blocking a vote on sweeping health care legislation late Friday and officials expressed optimism they had finally lined up the support needed to pass President Barack Obama’s top domestic priority.
A vote was expected on the legislation on Saturday, after Obama’s scheduled midmorning trip to the Capitol complex to make one final pitch for its approval. The bill is designed to spread coverage
12 hours ago · By Henry J. Gomez, The Plain Dealer
November 06, 2009, 9:53PM
Thomas Ondrey/The Plain DealerCleveland
CLEVELAND, Ohio -- ...
WOIO Channel 19 first reported that Lori Frazier, Jackson’s niece, moved in with Sowell in 2005 about a month after he was released from a 15-year prison sentence for attempted rape. She moved out last year.
Frazier said she was a drug addict and used drugs with Sowell. But she had no idea he could have been a serial killer.
"I want to know why, why would
13 hours ago · Mrs Munley was one of the "first responders" who returned fire after army psychiatrist Maj. Nidal Malik Hasan went on the rampage at the sprawling Fort Hood base in Texas.
She shot Hasan four times but was herself wounded in the gun battle. Her condition is now stable, according to military officials.
The police officer has been praised for her bravery and for preventing what could have been an even worse massacre....
13 hours ago · A Wisconsin man was sentenced late today in federal court in Jackson to three years in prison for making a threat on the Internet to assassinate then-President-elect Barack Obama.
Steven Joseph Christopher, 42, faced a maximum five years in prison.
After a nearly daylong sentencing hearing, U.S. District Judge Henry Wingate imposed the sentence.
Christopher pleaded guilty in July after Wingate agreed with him that he was competent to stand trial, although the U.S. attorney's office said
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