Tuesday, October 20, 2009

"Another one bites the dust..."

With sincerest apologies to Queen:

It's Friday (ok, ok; we were out of town on Friday and I'm still catching up; sue me), so it must mean another bank failure. That brings the total to 99 for the year. Best part of the article is, as always, near the bottom:
The number of banks on the FDIC's confidential "problem list" jumped to 416 at the end of June from 305 in the first quarter. That's the most since June 1994. About 13 percent of banks on the list generally end up failing, according to the FDIC.

So if no other banks are put on the FDIC's "problem list", we can expect somewhere around 150 bank failures for the year.

I see green shoots....

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