Seven more banks fail

Submitted by midtowng on Thu, 07/02/2009 - 16:55.

Why is the FDIC not waiting until Friday to shut down banks?

(CNNMoney.com) -- Seven banks were shut down by authorities Thursday, pushing the tally of failed banks for 2009 to 52, more than doubling the failures in 2008.

Six regional banks in Illinois and one in Texas closed their doors, according to the Federal Deposit Insurance Corporation.
...
FDIC fund: The total cost of Thursday's bank failures to the FDIC is $314.3 million, bringing the FDIC fund's total cost for failed banks to $12.3 billion this year. That compares with $17.6 billion in all of 2008.

Halfway through the year we've already doubled the number of bank failures.

Email this Instapopulist Forum topic
0 points

Tomorrow is a Fed holiday

Submitted by yellow dog in NJ on Thu, 07/02/2009 - 16:59.

7 so far - the West Coast may chip in

Rated 5 by one user. see individual ratings

Not in the banking world

Submitted by jfwells (not verified) on Fri, 07/03/2009 - 08:06.

Banks (minus the 7 closed yesterday) are not taking a holiday on Friday, nor are the regulators.

Not yet rated.

Post new comment

Your name:

E-mail:

The content of this field is kept private and will not be shown publicly.

Homepage:

Subject:

Comment: *

Input format

Filtered HTML

Web page addresses and e-mail addresses turn into links automatically.
Allowed HTML tags: <a> <b> <address> <blockquote> <br> <caption> <center> <code> <dd> <del> <div> <dl> <dt> <em> <font> <h2> <h3> <h4> <h5> <h6> <hr> <i> <img> <li> <ol> <p> <pre> <span> <strong> <sub> <sup> <table> <tbody> <td> <tfoot> <th> <thead> <tr> <u> <ul> <tr>
Lines and paragraphs break automatically.

Full HTML

Web page addresses and e-mail addresses turn into links automatically.
Lines and paragraphs break automatically.
Image links with 'rel="lightbox"' in the <a> tag will appear in a Lightbox when clicked on.

CAPTCHA

This question is for testing whether you are a human visitor and to prevent automated spam submissions.