Said in May 2006….”

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The stage is set, for most Americans the collapse will be felt in their retirement accounts and 401(k). The next level of pain will be their home valuations, and lastly the cost of food and energy. It will be up to you to take the necessary steps to preserve your wealth by using protective stops and put options if you own individual stocks.

MarketWatch.com

By John Letzing,

SAN FRANCISCO (MarketWatch) — Cleveland-based AmTrust Bank, with 66 branches and roughly $8 billion in deposits, was closed by regulators Friday, as the ongoing credit crunch continued to claim victims.

Three smaller banks in Georgia, an Illinois-based bank and a Virginia bank were also shuttered, bringing the 2009 total to 130.

The three Georgia-based bank failures bring that state’s total this year to 24.

Flash back in time since April 2009… when only 23 banks had failed!

Huffington Post

2 more banks fail, lifting this year’s tally to 23

Apr 10, 2009 … This year’s tally of 23 bank failures is nearing the total for all of … to 25 for this year and 50 since start of 2008 for the failed banks…

Related articles by Zemanta

• FDIC Bank Insurance Fund Plunges Into Red (abcnews.go.com)
• Regulators shut AmTrust Bank in Ohio (seattletimes.nwsource.com)

Technorati Tags: AmTrust Bank, bank, Bank failure, Banking Services, business, financial services, Georgia, Illinois

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