I am actually surprised I have not seen more of this or heard more written about it. City, county, and state officials worried about money held at banking institutions. I may be wrong but I would think counties in California probably lost money in Indymac. Anyway this article talks about the Treasurer in Jefferson County (the county is already in trouble) worries of having deposits at Regions Bank. Thanks goes to Pete.
http://blog.al.com/spotnews/2009/02/update_birmingham_not_moving_d.html
Jefferson County's treasurer has asked the commission to advise her if the county's deposits should be yanked from Regions Bank, whose holding company has been suffering from financial losses, falling share prices and credit downgrades.
But a Regions' spokesman said the bank is safe, and the city of Birmingham said it isn't concerned about its deposits there.
The County may pull its money but the city of Birmingham isn't worried?
The city of Birmingham isn't abandoning Regions. It has $72 million with the bank, and Birmingham Mayor Larry Langford said that money will remain there.
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