Monday, September 27, 2010

Banks Keep Failing...No End In Sight.

http://online.wsj.com/article/SB10001424052748704760704575516272337762044.html?mod=googlenews_wsj

279 banks have collapsed since Sept. 25, 2008.

Federal Deposit Insurance Corp. increased its number of problem banks by 6% to 829

Of the failed banks since February 2007, 75 were formed after 1999 (After Deregulation)

The recession and collapse of the housing bubble have cut bank-industry employment by 188,000 jobs, or 8.5%, since 2007, according to FDIC data. Failures alone have cost 11,210 jobs, or 32% of the employees at failed banks.

The big banks all get bailed out with executives cashing in record bonuses. Meanwhile the little banks all get boarded up.

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