Thursday, March 01, 2007

Congratulations, Pittsburgh! First bank failure in nearly three years!

Matt Drudge continues his economic fearmongering with a link to a story about the one-branch Metropolitan Bank in Lawrenceville. Several weeks ago, the FDIC rolled into town and closed down this pseudo-bank.

How poorly run was the Metropolitian Bank? According to my source, checks deposited three years ago had yet to be properly cashed. The bank's offices were a disaster zone. Boxes of records were stacked behind cubicle walls.

1 comment:

Dain said...

Yikes. Where's old man Potter when you really need him? Oh, right: he's fictitious and dead.