US Bank Closings
2007 - 3
2008 - 25 (more than in the previous five years combined)
2009 - 53, and counting. It's only July.
The FDIC had 252 banks and thrifts on its list of troubled institutions at the end of 2008. The agency now expects bank failures will cost its insurance fund around $65 billion through 2013, up from an earlier estimate of $40 billion.
The FDIC has $53 billion to cover $4.4 trillion in deposits. Does that make you feel insured?
2007 - 3
2008 - 25 (more than in the previous five years combined)
2009 - 53, and counting. It's only July.
The FDIC had 252 banks and thrifts on its list of troubled institutions at the end of 2008. The agency now expects bank failures will cost its insurance fund around $65 billion through 2013, up from an earlier estimate of $40 billion.
The FDIC has $53 billion to cover $4.4 trillion in deposits. Does that make you feel insured?
posted by Sean M. Kennedy | 11:12 PM
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