NetBank shut down by federal regulators

Is this where the crash is gonna happen? Remeber, in 1929 new forms of investment, or storing money came around...just like today.

NetBank shut down by federal regulators

WASHINGTON (AP) — NetBank Inc., an online bank with $2.5 billion in assets, was shut down by the government on Friday because of an unsustainable level of mortgage defaults.

It was the largest thrift to fail since the tail end of the savings and loan crisis more than 14 years ago. Federal regulators appointed the Federal Deposit Insurance Corp. as a receiver for Alpharetta, Ga.-based NetBank.