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Dollars & Sense: 29 Failed Banks In 2009 -- So Far

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marmar Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Apr-26-09 09:23 AM
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Dollars & Sense: 29 Failed Banks In 2009 -- So Far
29 Failed Banks In 2009 -- So Far
by Dollars and Sense


The FDIC took over 4 more banks on Friday, bringing the total for 2009 to 29, compared to 25 for all of 2008. The banks were located in Idaho, Michigan, and Georgia, in addition to the now officially down and out First Bank of Beverly Hills.

The massive number of bank failures has brought the FDIC insurance fund to its lowest point in nearly a quarter century. As of the end of 2008, it had $18.9 billion, compared to $52.4 billion a year earlier.

The FDIC had 252 banks on its troubled bank watch list at the start of the year, up from 171 in September 2008.

--d.f.



http://www.dollarsandsense.org/blog/2009/04/29-failed-banks-in-2009-so-far.html


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jaxx Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Apr-26-09 09:29 AM
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1. Isn't 99 failed banks the prediction?
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geckosfeet Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Apr-26-09 09:38 AM
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2. It will far exceed 99 by the end of the year.
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NightWatcher Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Apr-26-09 09:48 AM
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3. 5 from GA. There's some funny business going on up there
they are all small banks in the Atlanta 'burbs. (Kennesaw, McDonough, Commerce(ironic), Stockbridge, and Atl)

I bet most of them are single-branchers. Yep all but one.
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