Well, Now We Know Why They Closed Park Avenue Bank on Thursday

As opposed to the normal Friday.

Because Charles Antonucci, the president of the bank, was just arrested for defrauding the TARP:

The former president of New York's privately held Park Avenue Bank was arrested on Monday on fraud charges, the first person accused of attempting to steal U.S. government bailout funds in the financial crisis.

The charges came just three days after regulators seized the bank, which had $520 million in assets.

A 10-count criminal complaint said Charles Antonucci devised "an elaborate round-trip loan transaction" that he told others was his own $6.5 million investment in Park Avenue Bank, misleading bank regulators. Antonucci made false statements in the bank's application for $11.2 million from TARP, the Troubled Asset Relief Program, according to the complaint.

I gotta figure that there is some more TARP fraud among the banksters, but time will tell.