Apparently these guys weren't big enough or maybe PIMCO didn't own any of their paper!
(CNBC.com) Regulators closed Silver State Bank on Friday, the 11th U.S. bank to fail this year as the struggling economy and falling home prices take their toll on financial institutions.
The Federal Deposit Insurance Corp said the Henderson, Nevada bank had $2 billion in assets and $1.7 billion in deposits as of June 30. The failure is expected to cost the FDIC deposit insurance fund between $450 million and $550 million.
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