From the LA Times: United Commercial Bank is shut down, sold to East West Bancorp

Toppled by loan losses and misstated financial reports, San Francisco's United Commercial Bank was shut down by regulators Friday night ...

From The Telegraph: Bank of England says financiers are fuelling an economic 'doom loop'

On the eve of the G20 meeting of finance ministers in Scotland, Andy Haldane, the Bank's executive director for financial stability warned that the relationship between the state and banks represents a "doom loop" which will keep inflicting crises on the public unless arrested.

From David Leonhardt at the NY Times: Broader Measure of Unemployment Stands at 17.5% Excerpts:

Officially, the Labor Department’s broad measure of unemployment goes back only to 1994. But early this year, with the help of economists at the department, The New York Times created a version that estimates it going back to 1970.

Sunrise in the East
United Commercial Bank
Sunsets in the West
by Soylent Green is People
From the FDIC: East West Bank, Pasadena, California Assumes All the Deposits of United Commercial Bank, San Francisco, California

United Commercial Bank, San Francisco, California, was closed today by the California Department of Financial Institutions, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver.

Note: This was before the FDIC seized four banks today.

Whats a "Prosperan"?
A breakfast food, car or band?
Answer: money pit