Friday, March 27, 2009

"Official" Failed Bank List

FDIC Site - List of Failed Banks

So far 21 banks have failed since the start of this year. That is almost 2 banks folding every Friday. Intrestingly, i was listening to a show on radio where they described how FDIC is hiring almost 600 so called secret agents for one of their regional offices to assist in the process of taking over failed banks. In addition, FDIC decides who will take over the failed bank; whether selected new owner wants to participate or take over the failed bank is never considered.

I am wondering if FDIC's one regional office is ramping uP hiring of so called army of secret agents, what does it say about the banking industry? How many more banks will go under? Commrcial Real Estate have barely begun the process of deleveraging.

No comments:

Post a Comment