The FDIC didn't post any bank seizures on Dec 18, 25 or Jan 1st
 
I guess they were all on paid leave for the holidays.
 
Guess no banks were seized from Dec 18 until tonight. That is good.
 
Late posting tonight:
 
http://www.fdic.gov/
 
Bank Closing Information - January 8, 2010

Horizon Bank, Bellingham, WA
 
One so far, but I'm shutting off this machine before I become one of the herd mindlessly staring into space. Lost.
 
I guess buying stinky paper is good business

FDIC Announces Winning Bidder of $1 Billion in Loans

http://www.fdic.gov/news/news/press/2010/pr10003.html

"The winning bidder of the Multibank Structured Transaction was Colony Capital Acquisitions, LLC, Los Angeles, CA."

"The FDIC as Receiver for the failed banks conveyed to the LLC a portfolio of approximately 1200 distressed commercial real estate loans, of which seventy percent were delinquent. Collectively, the loans have an unpaid principal balance of $1.02 billion. Seventy-five percent of the collateral of the portfolio is located in Georgia, California, Nevada and Florida...."

Well, they are "global." Besides offices stateside like in Japan and those far away places. Many of their principles seem to have common backgrounds:

Prior to joining Deutsche Bank in 2002, Mr. Sammann spent six years at Goldman, Sachs & Co., where, as a Vice President

Prior to joining Colony in 1999, Mr. Masui was a consultant with Lehman Brothers in Japan

Previously, Mr. Welch was a Vice President in the Investment Banking Division of Goldman, Sachs & Co

Prior to joining Colony in 1998 as an Associate in the Los Angeles office, Ms. Dubrova worked as an Associate at Goldman Sachs,

Mr. Elkins was an Executive Director of the Real Estate Private Capital Markets group at Morgan Stanley. Previously he held positions at Goldman, Sachs & Co