4 banks went down today. Calculated Risk has their Unofficial Problem Bank List at 641 banks now.
Feeling prosperous yet?
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FDIC list Calculated Risk: That makes five bank failures today, and two with over $1 billion in assets each. There were 140 bank failures in 2009, 25 in 2008 and 3 in 2007, so that makes 171 for this cycle. 9 have failed so far this year. That’s 140 so far this year. Some banks had uninsured depositors (because they had more in the bank than the insured limit.) Calculated Risk’s unofficial problem bank list has increased to 551, and they have it online in a handy, sortable format. Too bad those uninsured depositors weren’t banks. Because then the federal government would [...] Georgian Bank, which wasn’t on the FDIC list of problem banks as of June 30, failed last week. How many more banks are looming in the darkness out there that appear to be healthy but aren’t? What’s scary is that this level of opacity likely extends upwards to the ranks of the too-big-to-fail institutions [...] Gosh, what could go wrong with a risky conflict of interest like FDIC borrowing money from banks so it can prop them up if they fail? So, is FDIC still solvent? Bank failures in 2009. From the Chart Store via The Big Picture. That’s what a senator quoted her as saying at a hearing. The FDIC demurs a bit, saying no estimate was given on the number of banks that could fail. Note that FDIC is not even remotely being perky here or saying bank failures won’t happen. Nor are they making any attempt to contradict that up [...] Friday is a holiday, so Bank Failure Friday was pushed forward one day, and today was a doozy. Seven bank failures Five banks got seized by FDIC yesterday. |  | ||||
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