Orecchiette e cime de rape
This recipe was sent in by a group of students from Italy
"We are a group of Italian students attending an English course. We would show you a typical dish of our marvellous land: Puglia! This recipe has very old traditions and our grandmothers still make home made orecchiette (ear shaped pasta). "
A group of Italian students
The finished dish
Enlarge image
Ingredients
(for 4 people)
300 g orecchiette (pasta)
1 kg turnip
1 garlic clove
100 g pugliese extra virgin olive oil
2 salted fillets of anchovies
bread crumbs
chilli to taste
Instructions
Select the tender leaves and the tops of the turnips.
Clean, wash and dry the turnips.
Heat the oil and lightly fry the garlic in a large pan, add 2 salted fillets of anchovies.
Put a little oil in another pan and fry the bread crumbs until golden brown.
Boil the turnip tops and leaves in salted water for 10 minutes. Then add orecchiette and boil them altogether for 8-10 minutes.
Strain orecchiette and turnips.
Mix pasta, turnips and sautéed anchovies.
Serve it with the toasted bread and chilli on the top.
BUON APPETITO!
venerdì 30 ottobre 2009
giovedì 29 ottobre 2009
Leanne killer jailed for life
Leanne killer jailed for life
Leanne was strangled and her body dumped in woods
A parcel delivery worker has been told to expect to spend the rest of his life in jail for the murder of Leeds teenager Leanne Tiernan.
John Taylor, 46, from Cockshott Drive in the Bramley area of the city, was given two life sentences at Leeds Crown Court after admitting the 16-year-old's kidnap and murder.
Mr Justice Astill said to Taylor: "You are a dangerous sexual sadist."
Taylor: Killed Leanne for "sexual gratification"
He said it was as cold and calculating an act as he could imagine, and the suffering Taylor had caused could not be measured.
Police later warned that Taylor - who did not have a criminal record - could have killed before, and urged anyone with information about him to come forward.
Taylor stared straight ahead as the judge spoke, but there were cheers and applause from the public gallery.
Numb
Leanne disappeared after a shopping trip in the centre of the city on 26 November 2000. Her body was found in woods several miles away, nine months later.
The judge said Taylor had strangled Leanne to satisfy his "perverted cravings".
You are a dangerous sexual sadist - your purpose in kidnapping this young girl was so that you could satisfy your perverted cravings
Mr Justice Astill
The court had heard how Taylor grabbed Leanne on an unlit path she frequently used near her home in Bramley, blindfolded her and led her to his house, where he murdered her.
Leanne's mother Sharon Hawkhead - who described Leanne as a happy, confident and streetwise girl - said afterwards the family was still in a "living hell".
"Although John Taylor has been locked up, our agony continues...we are pleased that he has been locked up so he can't do this to anyone else, but life should mean life."
Detective Superintendent Chris Gregg, who led the investigation, said officers were now looking at other major crimes Taylor may have committed in the past 20 years.
He said he was looking particularly at the 1992 killing of Bradford prostitute Yvonne Fitt, and three other murders of which he declined to give details.
Dog clue
Leanne's body was found in August 2001, by a man walking his dog at a beauty spot about 16 miles from her house.
A forensic investigation of hairs found on her body led police to Taylor - and their inquiries turned up other evidence.
Leanne's mother Sharon said she had no feelings for Taylor
They discovered Taylor had had sado-masochistic relationships with girlfriends, and he had once told a girlfriend he wanted to sleep with her 15-year-old daughter.
Robert Smith QC, prosecuting, said the state of Leanne's body when it was found meant it was not possible to establish for certain whether she had been sexually interfered with.
Body stored
But Mr Smith said Taylor's motive was clear: "The motive for killing her was for the purpose of sexual gratification."
Mr Smith said Taylor had stored Leanne's body at his home - possibly in a fridge or freezer - for between three weeks and nine months, before dumping it.
A poacher who sold pet food and accessories from his home, police said Taylor had shown frequent cruelty to animals throughout his life and had an "extremely dangerous" nature.
Taylor, who is divorced, has a son aged about 21 and a 19-year-old daughter.
Leanne was strangled and her body dumped in woods
A parcel delivery worker has been told to expect to spend the rest of his life in jail for the murder of Leeds teenager Leanne Tiernan.
John Taylor, 46, from Cockshott Drive in the Bramley area of the city, was given two life sentences at Leeds Crown Court after admitting the 16-year-old's kidnap and murder.
Mr Justice Astill said to Taylor: "You are a dangerous sexual sadist."
Taylor: Killed Leanne for "sexual gratification"
He said it was as cold and calculating an act as he could imagine, and the suffering Taylor had caused could not be measured.
Police later warned that Taylor - who did not have a criminal record - could have killed before, and urged anyone with information about him to come forward.
Taylor stared straight ahead as the judge spoke, but there were cheers and applause from the public gallery.
Numb
Leanne disappeared after a shopping trip in the centre of the city on 26 November 2000. Her body was found in woods several miles away, nine months later.
The judge said Taylor had strangled Leanne to satisfy his "perverted cravings".
You are a dangerous sexual sadist - your purpose in kidnapping this young girl was so that you could satisfy your perverted cravings
Mr Justice Astill
The court had heard how Taylor grabbed Leanne on an unlit path she frequently used near her home in Bramley, blindfolded her and led her to his house, where he murdered her.
Leanne's mother Sharon Hawkhead - who described Leanne as a happy, confident and streetwise girl - said afterwards the family was still in a "living hell".
"Although John Taylor has been locked up, our agony continues...we are pleased that he has been locked up so he can't do this to anyone else, but life should mean life."
Detective Superintendent Chris Gregg, who led the investigation, said officers were now looking at other major crimes Taylor may have committed in the past 20 years.
He said he was looking particularly at the 1992 killing of Bradford prostitute Yvonne Fitt, and three other murders of which he declined to give details.
Dog clue
Leanne's body was found in August 2001, by a man walking his dog at a beauty spot about 16 miles from her house.
A forensic investigation of hairs found on her body led police to Taylor - and their inquiries turned up other evidence.
Leanne's mother Sharon said she had no feelings for Taylor
They discovered Taylor had had sado-masochistic relationships with girlfriends, and he had once told a girlfriend he wanted to sleep with her 15-year-old daughter.
Robert Smith QC, prosecuting, said the state of Leanne's body when it was found meant it was not possible to establish for certain whether she had been sexually interfered with.
Body stored
But Mr Smith said Taylor's motive was clear: "The motive for killing her was for the purpose of sexual gratification."
Mr Smith said Taylor had stored Leanne's body at his home - possibly in a fridge or freezer - for between three weeks and nine months, before dumping it.
A poacher who sold pet food and accessories from his home, police said Taylor had shown frequent cruelty to animals throughout his life and had an "extremely dangerous" nature.
Taylor, who is divorced, has a son aged about 21 and a 19-year-old daughter.
mercoledì 28 ottobre 2009
Cuba's ex-leader Castro 'strong'
Cuba's ex-leader Castro 'strong'
By Michael Voss
BBC News, Havana
Fidel Castro has not been seen in public for three years
Cuba's ex-leader Fidel Castro is looking strong and remains on top of developments at home and abroad, says a world health chief.
Dr Margaret Chan, head of the World Health Organization, was granted an audience with Mr Castro this week.
Mr Castro has not been seen in public for more than three years, since a series of major intestinal operations.
The only updates on his health come from visiting dignitaries who have been able to meet him.
Exactly what he suffers from, and where he is recuperating, remain state secrets.
I have to say Mr Fidel Castro's understanding of the importance of health, particularly public health, is impressive
Dr Margaret Chan
World Health Organization
Dr Chan spent more than two-and-a-half hours with Mr Castro on Tuesday evening, when she had a "long talk" with him.
"He walked me out of the house, that's quite a distance, so pretty strong. And don't forget, I'm younger than him," she said, without discussing specific health issues.
Topics ranged from swine flu preparations to the possible health impact of climate change.
Speaking at a news conference in Havana, Dr Chan said that Cuba's 83-year-old former leader remained well informed and as demanding as ever.
"I have to say Mr Fidel Castro's understanding of the importance of health, particularly public health, is impressive.
"Any one of you, especially the doctors, if you don't know your subject well, don't talk to him. He knows more about the subject than you do."
By Michael Voss
BBC News, Havana
Fidel Castro has not been seen in public for three years
Cuba's ex-leader Fidel Castro is looking strong and remains on top of developments at home and abroad, says a world health chief.
Dr Margaret Chan, head of the World Health Organization, was granted an audience with Mr Castro this week.
Mr Castro has not been seen in public for more than three years, since a series of major intestinal operations.
The only updates on his health come from visiting dignitaries who have been able to meet him.
Exactly what he suffers from, and where he is recuperating, remain state secrets.
I have to say Mr Fidel Castro's understanding of the importance of health, particularly public health, is impressive
Dr Margaret Chan
World Health Organization
Dr Chan spent more than two-and-a-half hours with Mr Castro on Tuesday evening, when she had a "long talk" with him.
"He walked me out of the house, that's quite a distance, so pretty strong. And don't forget, I'm younger than him," she said, without discussing specific health issues.
Topics ranged from swine flu preparations to the possible health impact of climate change.
Speaking at a news conference in Havana, Dr Chan said that Cuba's 83-year-old former leader remained well informed and as demanding as ever.
"I have to say Mr Fidel Castro's understanding of the importance of health, particularly public health, is impressive.
"Any one of you, especially the doctors, if you don't know your subject well, don't talk to him. He knows more about the subject than you do."
Crisi: famiglie più povere, cala reddito e potere d'acquisto
Crisi: famiglie più povere, cala reddito e potere d'acquisto
Roma, 28 ott. (Apcom) - Cala il reddito lordo delle famiglie, frena la propensione al risparmio, in misura minore anche la spesa per consumi finali e scende il potere d'acquisto. A renderlo noto è l'Istat nella statistica in breve 'Reddito e risparmio delle famiglie e profitti delle società' relativa al secondo trimestre del 2009. In realtà si tratta di dati, non destagionalizzati, riferiti al periodo luglio 2008-giugno 2009.
Nel secondo trimestre, dunque, la propensione al risparmio subisce una prima battuta d'arresto dopo un lungo periodo di crescita e si attesta al 15,2%: un risultato, superiore allo stesso trimestre del 2008 (quando era al 14,8%), ma inferiore di 0,4 punti percentuali rispetto al primo trimestre del 2009. Nel secondo trimestre 2009, infatti, il reddito lordo disponibile delle famiglie è calato di quasi 11 miliardi, l'1% in meno in valori correnti rispetto al trimestre precedente. Si è ridotta appena dello 0,5%, invece, la spesa delle famiglie per consumi finali.
Sempre nel periodo luglio 2008-giugno 2009, il potere d'acquisto delle famiglie (cioè il reddito disponibili delle famiglie in termini reali) è calato dell'1% rispetto al trimestre precedente (aprile 2008-marzo 2009) e dell'1,2% rispetto al periodo luglio 2007-giugno 2008.
Il settore delle famiglie - spiega l'Istat - comprende le famiglie consumatrici, le famiglie produttrici (imprese individuali, società semplici fino a cinque addetti e liberi professionisti) e le istituzioni senza scopo di lucro al servizio delle famiglie.
di Apcom
Roma, 28 ott. (Apcom) - Cala il reddito lordo delle famiglie, frena la propensione al risparmio, in misura minore anche la spesa per consumi finali e scende il potere d'acquisto. A renderlo noto è l'Istat nella statistica in breve 'Reddito e risparmio delle famiglie e profitti delle società' relativa al secondo trimestre del 2009. In realtà si tratta di dati, non destagionalizzati, riferiti al periodo luglio 2008-giugno 2009.
Nel secondo trimestre, dunque, la propensione al risparmio subisce una prima battuta d'arresto dopo un lungo periodo di crescita e si attesta al 15,2%: un risultato, superiore allo stesso trimestre del 2008 (quando era al 14,8%), ma inferiore di 0,4 punti percentuali rispetto al primo trimestre del 2009. Nel secondo trimestre 2009, infatti, il reddito lordo disponibile delle famiglie è calato di quasi 11 miliardi, l'1% in meno in valori correnti rispetto al trimestre precedente. Si è ridotta appena dello 0,5%, invece, la spesa delle famiglie per consumi finali.
Sempre nel periodo luglio 2008-giugno 2009, il potere d'acquisto delle famiglie (cioè il reddito disponibili delle famiglie in termini reali) è calato dell'1% rispetto al trimestre precedente (aprile 2008-marzo 2009) e dell'1,2% rispetto al periodo luglio 2007-giugno 2008.
Il settore delle famiglie - spiega l'Istat - comprende le famiglie consumatrici, le famiglie produttrici (imprese individuali, società semplici fino a cinque addetti e liberi professionisti) e le istituzioni senza scopo di lucro al servizio delle famiglie.
di Apcom
martedì 27 ottobre 2009
Lazio, Marrazzo lascia 'Mia sofferenza estrema' 'Mia sofferenza estrema, permanenza inutile'
Lazio, Marrazzo lascia 'Mia sofferenza estrema'
'Mia sofferenza estrema, permanenza inutile'
27 ottobre, 23:22
salta direttamente al contenuto dell'articolo
salta al contenuto correlato
IndietroStampaInviaCondividiScrivi alla redazioneSuggerisci ()
Guarda le foto1 di 6
Piero Marrazzo
CORRELATI
ASSOCIATE
Nel Pd e' toto-candidato, Veltroni dice no
La moglie si rifugia nella normalità, forte per la figlia
Inchiesta si estende a presunto giro ricatti
Marrazzo, stress psicofisico: 30 giorni di riposo
Brenda e Natalie, trans coinvolte nel caso Marrazzo
Restano in carcere 4 carabinieri e parlano di complotto
APPROFONDIMENTI
Trans di via Gradoli lamentano: affari crollati
Ordinanza Gip: con trans concordati 5.000 euro
di Tiziana Torrisi
ROMA - Il giorno della fine dell'uomo pubblico Piero Marrazzo inizia con la fuga da casa e la determinazione a dimettersi subito. Recidere tutti i fili con una vita che è già passato, iniziata il 4 aprile 2005 con una vittoria insperata sul favoritissimo governatore del Lazio uscente Francesco Storace. Una vita da abbandonare, quella da Presidente della Regione Lazio, travolta da uno scandalo, un video con un trans e quattro carabinieri ricattatori. Fuggire da casa non per essere lontano dalla famiglia ma per rifuggire dai riflettori, da quella pressione mediatica che lui, da giornalista, conosce molto bene: via dall'assedio di telecamere e reporter per trovare rifugio in una struttura religiosa.
E' mattina quando Marrazzo saluta la moglie Roberta, vicina a lui e incrollabile fino alla fine, e accompagnato da quelli che sono soprattutto i suoi amici piu che collaboratori, decide di passare parte di quello che burocraticamente è definito "impedimento permanente" in una struttura religiosa. Jeans e camicia, sale sull'auto della scorta diretto verso un convento in Umbria, poi dopo un po' di strada si decide di andare verso l'Abbazia di Montecassino, celebre monastero benedettino vicino a Frosinone. I monaci sono disposti ad ospitarlo e l'Abbazia, una sorta di fortezza religiosa riparata dal mondo, garantisce privacy e tranquillità. Serenità, ecco di cosa ha bisogno Marrazzo. Glielo hanno detto anche i medici del Policlinico Gemelli diagnosticandogli un forte stress psicosomatico.
Chi gli sta vicino lo descrive come un uomo "disperato, sofferente, disorientato, distrutto". Un uomo "che aveva tutto e ora non ha niente". Un uomo in fuga da una realtà che "non riesce più a sopportare". Dimagrito, visibilmente. Silenzioso. Così dopo l'ennesima notte difficile, trascorsa con la famiglia nella casa dei giorni felici, la decisione: andare in un convento. E dimettersi subito. "Basta voglio chiudere, non voglio più avere contatti con la vita politica, basta col passato", le parole dette mentre firma le dimissioni. Firmate a casa perché nel frattempo la fuga di notizie aveva costretto l'ex presidente ad un dietrofront: non più Montecassino, per paura dei giornalisti, ma alla ricerca di un altro convento che lo potesse ospitare. Alla fine le ore passano e nessuna struttura è disponibile a farsi carico della situazione.
Troppa pressione, troppo interesse da parte dei giornali. Marrazzo, ormai ex presidente ma ancora giornalista Rai in aspettativa, resta a casa. E affida a poche righe ufficiali il suo dramma politico-privato. Quello dell'uomo: "le mie condizioni di sofferenza estrema non rendono più utile per i cittadini del Lazio la mia permanenza alla guida della Regione". Poi parla da ex governatore e sottolinea "finché mi é stato possibile ho operato per il bene della comunità laziale, mi auguro che questo mi possa essere riconosciuto al di là degli errori personali che posso aver commesso nella mia vita". Le ultime parole da presidente della Regione sono già le parole di un privato cittadino, di "un uomo distrutto".
'Mia sofferenza estrema, permanenza inutile'
27 ottobre, 23:22
salta direttamente al contenuto dell'articolo
salta al contenuto correlato
IndietroStampaInviaCondividiScrivi alla redazioneSuggerisci ()
Guarda le foto1 di 6
Piero Marrazzo
CORRELATI
ASSOCIATE
Nel Pd e' toto-candidato, Veltroni dice no
La moglie si rifugia nella normalità, forte per la figlia
Inchiesta si estende a presunto giro ricatti
Marrazzo, stress psicofisico: 30 giorni di riposo
Brenda e Natalie, trans coinvolte nel caso Marrazzo
Restano in carcere 4 carabinieri e parlano di complotto
APPROFONDIMENTI
Trans di via Gradoli lamentano: affari crollati
Ordinanza Gip: con trans concordati 5.000 euro
di Tiziana Torrisi
ROMA - Il giorno della fine dell'uomo pubblico Piero Marrazzo inizia con la fuga da casa e la determinazione a dimettersi subito. Recidere tutti i fili con una vita che è già passato, iniziata il 4 aprile 2005 con una vittoria insperata sul favoritissimo governatore del Lazio uscente Francesco Storace. Una vita da abbandonare, quella da Presidente della Regione Lazio, travolta da uno scandalo, un video con un trans e quattro carabinieri ricattatori. Fuggire da casa non per essere lontano dalla famiglia ma per rifuggire dai riflettori, da quella pressione mediatica che lui, da giornalista, conosce molto bene: via dall'assedio di telecamere e reporter per trovare rifugio in una struttura religiosa.
E' mattina quando Marrazzo saluta la moglie Roberta, vicina a lui e incrollabile fino alla fine, e accompagnato da quelli che sono soprattutto i suoi amici piu che collaboratori, decide di passare parte di quello che burocraticamente è definito "impedimento permanente" in una struttura religiosa. Jeans e camicia, sale sull'auto della scorta diretto verso un convento in Umbria, poi dopo un po' di strada si decide di andare verso l'Abbazia di Montecassino, celebre monastero benedettino vicino a Frosinone. I monaci sono disposti ad ospitarlo e l'Abbazia, una sorta di fortezza religiosa riparata dal mondo, garantisce privacy e tranquillità. Serenità, ecco di cosa ha bisogno Marrazzo. Glielo hanno detto anche i medici del Policlinico Gemelli diagnosticandogli un forte stress psicosomatico.
Chi gli sta vicino lo descrive come un uomo "disperato, sofferente, disorientato, distrutto". Un uomo "che aveva tutto e ora non ha niente". Un uomo in fuga da una realtà che "non riesce più a sopportare". Dimagrito, visibilmente. Silenzioso. Così dopo l'ennesima notte difficile, trascorsa con la famiglia nella casa dei giorni felici, la decisione: andare in un convento. E dimettersi subito. "Basta voglio chiudere, non voglio più avere contatti con la vita politica, basta col passato", le parole dette mentre firma le dimissioni. Firmate a casa perché nel frattempo la fuga di notizie aveva costretto l'ex presidente ad un dietrofront: non più Montecassino, per paura dei giornalisti, ma alla ricerca di un altro convento che lo potesse ospitare. Alla fine le ore passano e nessuna struttura è disponibile a farsi carico della situazione.
Troppa pressione, troppo interesse da parte dei giornali. Marrazzo, ormai ex presidente ma ancora giornalista Rai in aspettativa, resta a casa. E affida a poche righe ufficiali il suo dramma politico-privato. Quello dell'uomo: "le mie condizioni di sofferenza estrema non rendono più utile per i cittadini del Lazio la mia permanenza alla guida della Regione". Poi parla da ex governatore e sottolinea "finché mi é stato possibile ho operato per il bene della comunità laziale, mi auguro che questo mi possa essere riconosciuto al di là degli errori personali che posso aver commesso nella mia vita". Le ultime parole da presidente della Regione sono già le parole di un privato cittadino, di "un uomo distrutto".
venerdì 23 ottobre 2009
Bank failures stack up: Now 106 for 2009
Bank failures stack up: Now 106 for 2009
Banks in Florida, Georgia, Illinois, Minnesota and Wisconsin, were shuttered, costing the FDIC an estimated $356.6 million.
EMAIL | PRINT | SHARE | RSS
By Julianne Pepitone, CNNMoney.com staff reporter
Last Updated: October 23, 2009: 8:14 PM ET
Map
Where the banks are failing
Bank failures and foreclosures keep mounting View Map
NEW YORK (CNNMoney.com) -- The tally of bank failures easily broke past the No. 100 milestone on Friday night, with regulators announcing the year's 106th closure.
That's more than four times the number that were closed in 2008, and the highest total since 1992, when 181 banks failed.
Earlier on Friday evening the dubious honor of the 100th failure went to Partners Bank, of Naples, Fla., which had $65.5 million in assets, according to the Federal Deposit Insurance Corp.
The 101st failure was American United Bank, of Lawrenceville, Ga., which had $111 million in assets.
The 102nd failure was another Naples, Fla., institution: Hillcrest Bank Florida, which had $83 million in assets.
The 103rd closure was Bradenton, Fla.-based Flagship National Bank, with $190 million in assets.
The 104th was Bank of Elmwood, based in Racine, Wis., which had $327.4 million in assets.
The 105th failure was Riverview Community Bank of Otsego, Minn., with $108 million in assets.
The 106th failure was First Dupage Bank in Westmont, Ill., which had $279 million in assets.
Customers of all seven banks are protected, however. The Federal Deposit Insurance Corp., which has insured bank deposits since the Great Depression, covers customer accounts up to $250,000. This is funded through premiums paid by member banks.
In fact, to reassure borrowers, FDIC chair Sheila Bair posted a video message to the agency's Web site, saying "for the insured depositor, a bank failure is a non-event."
Still, Bair cautioned that "until the healing process is complete, there will be more bank failures."
What happens to the banks. Fort Lauderdale, Fla.-based Stonegate Bank will assume control of all Partners Bank's $64.9 million in deposits. It will also take over Hillcrest Bank's $84 million in deposits. The two branches of Partners Bank and six branches of Hillcrest will reopen on Monday as branches of Stonegate.
Moultrie, Ga.-based Ameris Bank will pay the FDIC a premium of 1.02% to take control of American United's $101 million in deposits. The FDIC and Ameris Bank entered into a loss-share transaction on $92 million of American United's assets, an agreement in which Ameris will share in the losses on the assets covered.
The single branch of American United Bank will reopen on Monday as a branch of Ameris.
Lake City, Fla.-based First Federal Bank will take over all of Flagship National Bank's $175 million in deposits. The four branches of Flagship will reopen Monday as branches of First Federal.
Bank of Elmwood's $273.2 million in deposits are now controlled by Tri City National Bank, based in Oak Creek, Wis. The five branches of Bank of Elmwood will reopen on Saturday as branches of Tri City.
Stillwater, Minn.-based Central Bank will take control of Riverview Community Bank's $80 million in deposits. The FDIC and Central Bank entered into a loss-share transaction on $75 million of Riverview's assets.
First Dupage Bank's $254 million in deposits are now being handled by First Midwest Bank of Itasca, Ill. The FDIC and First Midwest Bank entered into a loss-share transaction on approximately $247 million of First Dupage Bank's assets. The sole First Dupage branch will reopn Saturday as an outpost of First Midwest.
The failure of the six banks will cost the Deposit Insurance Fund an estimated $356.6 million, according to the FDIC.
Why regional banks are failing. While larger financial institutions have received aid from the federal government, smaller banks have found themselves left adrift. Like their larger counterparts, many of these banks made risky loans to individuals and real estate developers during the boom years and are now facing large numbers of defaults as the recession drags on.
Rising unemployment has made it difficult for many individuals to keep up with expenses, and businesses are feeling the crunch of consumers' reduced spending power. As a result, regional banks are left holding loans their customers can't repay.
Problem banks list looms. The FDIC keeps a list of "problem banks," though it does not disclose the names to the general public out of fear that depositors at those institutions may prompt a "run on the bank."
In June, the agency said 416 banks were at risk of failure -- the highest level in 15 years.
It's a whopping figure, to be sure. But even as the pace of failures accelerates, 2009's numbers remain far from what happened during the savings and loan crisis two decades ago. More than 1,900 financial institutions failed from 1987-1991, peaking at 534 closures in 1989.
Federal coffers running dry. An average of 10 banks have failed per month this year, and the federal coffer is thinning under the massive strain. The fund now stands at $7.5 billion, down significantly from $45 billion a year ago.
When the FDIC factors in expected closures, the agency says the fund is in the red and will likely remain there through 2012. Bank failure costs are expected to total $100 billion over the next four years, leaving regulators strapped for cash.
Last month, the FDIC discussed how to raise quick cash to replenish the fund. The agency proposed that banks prepay their deposit insurance premiums for the next three years.
First Published: October 23, 2009: 5:40 PM ET
Banks in Florida, Georgia, Illinois, Minnesota and Wisconsin, were shuttered, costing the FDIC an estimated $356.6 million.
EMAIL | PRINT | SHARE | RSS
By Julianne Pepitone, CNNMoney.com staff reporter
Last Updated: October 23, 2009: 8:14 PM ET
Map
Where the banks are failing
Bank failures and foreclosures keep mounting View Map
NEW YORK (CNNMoney.com) -- The tally of bank failures easily broke past the No. 100 milestone on Friday night, with regulators announcing the year's 106th closure.
That's more than four times the number that were closed in 2008, and the highest total since 1992, when 181 banks failed.
Earlier on Friday evening the dubious honor of the 100th failure went to Partners Bank, of Naples, Fla., which had $65.5 million in assets, according to the Federal Deposit Insurance Corp.
The 101st failure was American United Bank, of Lawrenceville, Ga., which had $111 million in assets.
The 102nd failure was another Naples, Fla., institution: Hillcrest Bank Florida, which had $83 million in assets.
The 103rd closure was Bradenton, Fla.-based Flagship National Bank, with $190 million in assets.
The 104th was Bank of Elmwood, based in Racine, Wis., which had $327.4 million in assets.
The 105th failure was Riverview Community Bank of Otsego, Minn., with $108 million in assets.
The 106th failure was First Dupage Bank in Westmont, Ill., which had $279 million in assets.
Customers of all seven banks are protected, however. The Federal Deposit Insurance Corp., which has insured bank deposits since the Great Depression, covers customer accounts up to $250,000. This is funded through premiums paid by member banks.
In fact, to reassure borrowers, FDIC chair Sheila Bair posted a video message to the agency's Web site, saying "for the insured depositor, a bank failure is a non-event."
Still, Bair cautioned that "until the healing process is complete, there will be more bank failures."
What happens to the banks. Fort Lauderdale, Fla.-based Stonegate Bank will assume control of all Partners Bank's $64.9 million in deposits. It will also take over Hillcrest Bank's $84 million in deposits. The two branches of Partners Bank and six branches of Hillcrest will reopen on Monday as branches of Stonegate.
Moultrie, Ga.-based Ameris Bank will pay the FDIC a premium of 1.02% to take control of American United's $101 million in deposits. The FDIC and Ameris Bank entered into a loss-share transaction on $92 million of American United's assets, an agreement in which Ameris will share in the losses on the assets covered.
The single branch of American United Bank will reopen on Monday as a branch of Ameris.
Lake City, Fla.-based First Federal Bank will take over all of Flagship National Bank's $175 million in deposits. The four branches of Flagship will reopen Monday as branches of First Federal.
Bank of Elmwood's $273.2 million in deposits are now controlled by Tri City National Bank, based in Oak Creek, Wis. The five branches of Bank of Elmwood will reopen on Saturday as branches of Tri City.
Stillwater, Minn.-based Central Bank will take control of Riverview Community Bank's $80 million in deposits. The FDIC and Central Bank entered into a loss-share transaction on $75 million of Riverview's assets.
First Dupage Bank's $254 million in deposits are now being handled by First Midwest Bank of Itasca, Ill. The FDIC and First Midwest Bank entered into a loss-share transaction on approximately $247 million of First Dupage Bank's assets. The sole First Dupage branch will reopn Saturday as an outpost of First Midwest.
The failure of the six banks will cost the Deposit Insurance Fund an estimated $356.6 million, according to the FDIC.
Why regional banks are failing. While larger financial institutions have received aid from the federal government, smaller banks have found themselves left adrift. Like their larger counterparts, many of these banks made risky loans to individuals and real estate developers during the boom years and are now facing large numbers of defaults as the recession drags on.
Rising unemployment has made it difficult for many individuals to keep up with expenses, and businesses are feeling the crunch of consumers' reduced spending power. As a result, regional banks are left holding loans their customers can't repay.
Problem banks list looms. The FDIC keeps a list of "problem banks," though it does not disclose the names to the general public out of fear that depositors at those institutions may prompt a "run on the bank."
In June, the agency said 416 banks were at risk of failure -- the highest level in 15 years.
It's a whopping figure, to be sure. But even as the pace of failures accelerates, 2009's numbers remain far from what happened during the savings and loan crisis two decades ago. More than 1,900 financial institutions failed from 1987-1991, peaking at 534 closures in 1989.
Federal coffers running dry. An average of 10 banks have failed per month this year, and the federal coffer is thinning under the massive strain. The fund now stands at $7.5 billion, down significantly from $45 billion a year ago.
When the FDIC factors in expected closures, the agency says the fund is in the red and will likely remain there through 2012. Bank failure costs are expected to total $100 billion over the next four years, leaving regulators strapped for cash.
Last month, the FDIC discussed how to raise quick cash to replenish the fund. The agency proposed that banks prepay their deposit insurance premiums for the next three years.
First Published: October 23, 2009: 5:40 PM ET
giovedì 22 ottobre 2009
CALCIO EURO
ULTIME NEWS CALCIO
23:3322 OTT
E.League: Cska Sofia-Basilea 0-2
Doppietta di Frei per gli svizzeri, primi nel gruppo E
23:2422 OTT
Europa League: Galatasaray travolge
Quattro gol alla Dinamo Bucarest, bene anche il Panathinaikos
23:2122 OTT
Europa League: Berlino ko in casa
Nel gruppo D vittorie di Heerenveen e Sporting Lisbona
23:1722 OTT
Europa League:ok Amburgo e Tel Aviv
23:1522 OTT
Europa League: bene l'Ajax
Dinamo Zagabria battuto 2-0, Timisoara-Anderlecht 0-0
23:1322 OTT
E.League: Valencia-Slavia Praga 1-1
Naumov al 28' per i ceci, pareggio di Navarro al 63'
23:0522 OTT
Europa League: Fulham-Roma 1-1
Hangeland per inglesi. Menez sbaglia rigore, pari di Andreolli
23:0522 OTT
Europa League: Lilla-Genoa 3-0
Obraniak, Vittek e Hazard mettono ko i rossoblu'
22:2422 OTT
Rossi, Lippi sara'stato soddisfatto
'Mondiali? Devo far bene col Villar
23:3322 OTT
E.League: Cska Sofia-Basilea 0-2
Doppietta di Frei per gli svizzeri, primi nel gruppo E
23:2422 OTT
Europa League: Galatasaray travolge
Quattro gol alla Dinamo Bucarest, bene anche il Panathinaikos
23:2122 OTT
Europa League: Berlino ko in casa
Nel gruppo D vittorie di Heerenveen e Sporting Lisbona
23:1722 OTT
Europa League:ok Amburgo e Tel Aviv
23:1522 OTT
Europa League: bene l'Ajax
Dinamo Zagabria battuto 2-0, Timisoara-Anderlecht 0-0
23:1322 OTT
E.League: Valencia-Slavia Praga 1-1
Naumov al 28' per i ceci, pareggio di Navarro al 63'
23:0522 OTT
Europa League: Fulham-Roma 1-1
Hangeland per inglesi. Menez sbaglia rigore, pari di Andreolli
23:0522 OTT
Europa League: Lilla-Genoa 3-0
Obraniak, Vittek e Hazard mettono ko i rossoblu'
22:2422 OTT
Rossi, Lippi sara'stato soddisfatto
'Mondiali? Devo far bene col Villar
Iscriviti a:
Post (Atom)
Post
