Nevada Public Radio Listen Live

"KNPR's State of Nevada"
Facebook Twitter Follow Nevada Public Radio

Support Nevada Public Radio
KNPR's State of Nevada About SON Archives Participate Specials
TODAY
Gillespie On Bundy, Officer Shootings
Reno: News From The North
Columnist: No Way Any Convention Is Coming To Las Vegas
Bundyfest: It Could Happen
Life In Baker, California
Bryce Harper Benched In Washington
RECENT
The HOA: Help Or Headache?
Is The Cosmopolitan Of Las Vegas For Sale?
Reno A Frontrunner For Tesla Plant
Reid Vs. Heller On Bundy Standoff
Lowden Embraces Changing Senate Elections
The State Of The Clark County School District
States Look At Marijuana Laws
Gut Feeling: What We Learned From The Hadza About Digestion
Missing Out On A High School Diploma
Las Vegas City Council Votes For Horse-Drawn Carriages
The Good Foods Of Lent
Utah Keeps 'Utes' As Mascot
Why Don't We Know Who's Behind the Kelly Cheating Scandal?
The Progressive Bluegrass Sounds Of The Infamous Stringdusters
Castro And Patrick Spar Over Immigration
Boycott Las Vegas Say Social Conservatives
How Safe Is Your Food?
Robert Coover And The Return Of The Brunists
Behind The Bundy Ranch Standoff
Can 'Serious' Reading Happen Online?
Lynne Jasames On Why 'It's Okay To Cry'
BASE Jumping: The Allure And The Danger

Anatomy of a Bank Closure
Anatomy of a Bank Closure

Listen
AIR DATE: November 10, 2010

A number of local and regional banks have gone bankrupt over the last three years. Most were heavily over-invested in commercial real estate - warehouses, offices and strip malls that are mostly vacant and producing no income to pay off the loans.

So what happens when a bank is bankrupt? The bank regulators are supposed to step in and take the bank over. But it usually means the management gets kicked out and employees often lose their jobs. Banks are usually closed on Friday afternoon to give regulators time to clean up and be ready for business on Monday.

The Commissioner of Nevada's Financial Institutions Division, George Burns, tells us what happens when he and the Federal Deposit Insurance Corporation shut a bank down.

GUEST
George Burns, Commissioner, State of Nevada Financial Institutions Division

LINKS
comments powered by Disqus
© 2013 NEVADA PUBLIC RADIO   
Web hosting facilities provided by Switch.