Another Georgia bank fails – what is wrong in Georgia?

Omni National, with $980 million in assets, was shut by the Office of the Comptroller of the Currency and the Federal Deposit Insurance Corp. was named receiver, the OCC said today in a statement. The Federal Reserve on March 17 ordered the bank to bolster its capital and make improvements in accounting controls within 30 …

TIME Diagnosis of Patient Zero is Flawed

According to a TIME 24/7 article this morning, “Someone who took out a subprime loan in 2003 is the “patient zero” who began the great recession.” A single borrower set off the series of events that may lead the economy into its greatest downturn since The Great Depression? Blaming the financial meltdown on one borrower …