Hillarysworld

http://www.onenewsnow.com/AP/Search/Business/Default.aspx?id=654480


"Guaranty Bank became the second-largest U.S. bank to fail this year after the Texas lender was shut down by regulators and most of its operations sold at a loss of billions of dollars for the U.S. government to a major Spanish bank.

The transaction approved by the Federal Deposit Insurance Corp. marked the first time a foreign bank has bought a failed U.S. bank.

The bank failure, the 10th largest in U.S. history, is expected to cost the deposit insurance fund an estimated $3 billion."

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"The financial crisis is giving Spanish banks "the opportunity to make acquisitions and keep expanding their international presence at much more affordable prices than they would have if this crisis had not emerged," Alvarez said."