He said regulators should close about 70 thrift units in the state that are operating with a negative net worth.

In America, regulators closed or merged lending institutions fairly quickly once they recognized the magnitude of the problem.

The banks were profitable and sufficiently capitalized at the end of March, when regulators closed the other units.

But regulators closed the airline for unauthorized operations.

Soon afterward, regulators closed 20 of Mcorp's 25 banks in a $2 billion bailout.

They said they believed the regulators would have closed the investigation without requesting a recall.

But if net worth falls below five-tenths of 1 percent of assets, regulators can close the institution.

The regulators very seldom close an operating plant.

But the British regulators, he said, "prematurely closed the story."

Although regulators have not closed Statewide or its banking unit, the negative capital position means that in accounting terms the company and bank are insolvent.