Seven more banks closed on Friday, March 19th
Seven more banks in US have been closed on Friday, March 19th. The total number of institutions closed and acquired by the regulators, have rose to 42 in 2010.The latest collapse of banks have been – American National Bank, Century Security Bank, Advanta Bank Corporation, Appalachian Community Bank, Bank of Hiwassee, First Lowndes Bank, State Bank of Aurora, and Tracy Federal Credit Union.
The recession saw many big corporate collapsing. Many of them went bankrupt and some of them were given bailout by the US government. Citi Corporations also went bankrupt and they were given bailout by the US government. The US government becomes the largest stakeholders in the company. Citi Corp Inc. have repaid their most of the loans to the government.
