GLOBAL POLITICAL AWAKENING: Most bank fails in one year since S&L crisis, FDIC bleeds red
source: http://globalpoliticalawakening.blogspot.com/2010/11/most-bank-fails-in-one-year-since-s.html
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Government regulators closed four more banks Friday, which makes the total failures in 2010 to 143. It is the most in a single year since the savings-and-loan crisis. There were only three bank failures in 2007, twenty-five in 2008, before 2009 exploded with 140 closings.
The increasing number of failed banks is causing an already bleeding FDIC to go deeper into the red. Last year the deficit for the FDIC stood at $15.2 billion as of June 30, while the FDIC predicts the cost of bank fails from 2010 through 2014 to be around $52 billion. However, the deposit insurance fund may suffer a milder loss in 2010, which has reached about $21 billion so far this year, compared with $36 billion in 2009.
Read More: http://globalpoliticalawakening.blogspot.com/2010/11/most-bank-fails-in-one-year...
The increasing number of failed banks is causing an already bleeding FDIC to go deeper into the red. Last year the deficit for the FDIC stood at $15.2 billion as of June 30, while the FDIC predicts the cost of bank fails from 2010 through 2014 to be around $52 billion. However, the deposit insurance fund may suffer a milder loss in 2010, which has reached about $21 billion so far this year, compared with $36 billion in 2009.
Read More: http://globalpoliticalawakening.blogspot.com/2010/11/most-bank-fails-in-one-year...
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