Big Banks Yet!

Saw in the AJC this morning where the feds think Synovis needs about one more billion dollars injected by the government in order to survive!

It doesn't seem like very long ago that the fellow who used to run the Peachtree National (now Synovis after a few name changes due to Tennis Center) had his picture in the Citizen nearly every issue!

I can't think that the borrowing by the "Tourist Trap" "Authority" for the Tennis Center could have done Synovis in!

They must have also sold a lot of bad home and commercial loans.
How much of the empty developments around here are they sitting on?

Is there any way we the public can know
that?

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"Non-performing" bank loans!
Submitted by Bonkers on Tue, 09/08/2009 - 5:00pm.

Obviously, many of our banks in PTC and other places have much real estate, particularly retail development buildings, on their books as an asset!
There is so much of it that it has to be a major burden.

My question is this: how long can a bank legally carry an asset at it's cost (amount of mortgage or lien) that is producing no standard revenue (payments)?

Should they not have to write it off and let it be sold at auction rather than try to fool the public about the true value of the bank?

Why is our FDIC allowing so much of it?
Isn't that what happened to AIG---no regulating?

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