Oakwood deposit Bank Co - Oakwood, Ohio Bank gagalna - episode 324

**Freesia Brindisi** (0:01)
Good morning, good morning. Thank you so much for joining me. This is the podcast, The Endurance of Labor Laws. I'm your lovely host, Freesia Brindisi. Today is episode 324, and we're gonna take a look at another failed bank. And again, it's episode 324 We're gonna take a look at Oakwood Deposit Bank Co, also known as company or corporation. Actually, it would be company, because it's co. Usually if it's corporation, it's cor or corp. So we'll take a look at that in just a moment. But before we dive in, let me give a big shout out to my listeners, because as usual, you guys are awesome. I love to see you here all across the United States as well as the entire planet. So it's good to see all of you. More and more are listening in. So a big shout out to Virginia, California, Oklahoma, New York, Texas, Pennsylvania, Illinois, British Columbia, Florida, Oregon, New Jersey, Georgia, Quebec, West Virginia, Indiana, Colorado, Arizona, Maryland, Ohio, Massachusetts, Michigan, Minnesota, Washington, Alabama, DC, also known as the District of Columbia, aka the swamp. Donald Trump will drain it for sure this time. Let's see. Well, let me say this. He tried to drain it way more prior in his first term, but DC is basically run by professional paper pushers and bureaucrats and they fought him tooth and nail. And I don't think they're going to be able to escape that this time because he is seriously going to drain the swamp because Americans are sick and tired of the bad behavior of these bureaucrats that infest our country, especially our capital. So just FYI, be aware of that in regards to our federal government. Anyway, moving on, a big shout out to Nebraska, Iowa, New Hampshire, Utah, Ontario, North Carolina, Tennessee, Mississippi, Kansas, Idaho, Rhode Island, Louisiana, Wisconsin, Montana, Hawaii, Nevada, New Mexico, Alberta, New Brunswick, Connecticut, Manitoba, Wyoming, Newfoundland and Labrador, which is in Canada, Missouri, Nova Scotia, which is also in Canada, which is very beautiful. Nova Scotia is where Anne of Green Gables was filmed, the original one produced by Walt Disney back in the 80s. It was a really good show.
But anyway, moving on to the countries, the individual countries that are listing in, a big shout out to the United States, my home country. Big shout out to Singapore, Sweden, China, Canada, Brazil, the Russian Federation, the United Kingdom, Bangladesh, Australia, India, the Netherlands, Germany, South Africa, Spain, Niger, Slovakia, Japan, Denmark, Israel. Oh, good to see you, Israel. I know you guys are going through a lot with Hamas.
The United States, we greatly support you, Israel, in regards to fighting Hamas. Hamas is a very evil, wicked organization, and they need to be wiped off the face of the earth. They are horrible, evil, wicked, and they have no place on this planet, unless of course they repent. But they basically want to destroy all Jews, and I find that to be very offensive because number one, I'm Jewish. Number two, it is very evil and wicked to want to annihilate someone just because they're born or because they worship the God of Abraham. So that's very evil, very wicked. So Israel, we love you, we support you always and forever. A big shout out to Uzbekistan, the Federated States of Micronesia, the Philippines, Hong Kong, Lithuania, Greece, France and Turkey. Okay, so again, we're going to take a look at Oakwood Deposit Bank Corporation or Company, whichever way you want to pronounce that. It was located in Oakwood, Ohio, the acquiring financial institution. So the financial institution that took them over and took on all their, not necessarily all their debt, but they took on the risk was the State Bank & Trust Company. And this takeover or bank failure and takeover occurred on February 1st in the year 2002 So going back a little bit, but I think it's important to go back in time and take a look at these because it explains a lot about what is going on now. Because these things tend to happen in cycles. But in terms of what the FDIC released, it says on February 1st, 2002, the Oakwood deposit bank company of Oakwood, Ohio, was closed by the superintendent of financial institutions for the state of Ohio, and the Federal Deposit Insurance Corporation, also known as FDIC.
The FDIC was named receiver. As receiver, the FDIC is charged with winding up the business affairs of the failed financial institution. Again, that's the same verbage they use for everything. This includes the disposition of assets and liabilities of the failed financial institution and payment of dividends to approve creditors in order of priority. So again, if you're not an approved creditor, you're screwed, unfortunately. It says the FDIC as receiver has taken all necessary actions to conclude the affairs of the failed financial institution, made all dividend distributions as required by law. Again, if it's not required by law, you're screwed.