Friday, March 4, 2011

This Week in Bank Failures

Bank-bailout political parties fared very poorly in elections in Ireland and the United Kingdom. It wasn’t the bank bailouts themselves that voters so disagreed with, but the political inconsistencies between the bailouts and the drastic cuts in public service that came at the same time. U.K. voters have also been questioning the propriety of billions of pounds in unofficial tax breaks for banks and bank owners since last year.

A credit union failed today. Wisconsin Heights Credit Union had less than $1 million in assets when it was liquidated. Membership accounts have been transferred to CoVantage Credit Union.