U.S. Bank Collapses Reach 157 This Year as Six More Lenders Are Shuttered
 

U.S. Bank Collapses Reach 157 This Year - Dec 2010

Bloomberg - Regulators shuttered six banks holding a total of $1.23 billion in assets, including three in Georgia and one each in Arkansas, Minnesota and Florida, as real-estate losses drive this year?s bank failures to 157. Regulators have closed 322 banks since the start of 2008. Today?s six closures cost the FDIC?s deposit-insurance fund a total of $267.6 million.

More than 500 banks may fail before the cycle that started in 2007 comes to a close, ?given the severity of the problems and the prolonged nature of the recovery,? Ely said.

The FDIC said last month that its list of ?problem? banks -- those at heightened risk of failure -- rose 3.7 percent to 860 in the third quarter, the most in 17 years. Banks on the confidential list had $379.2 billion in assets as of Sept. 30, down from $403 billion at the end of the second quarter.

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More than 500 eh? With less than 350 (in the last 10 years) closed thus far, it really sounds like it may be ending soon then.

Just think... In the first 10 months of the great depression something like 750 banks failed. In 1933, 4,000 failed and in total almost 9,000 failed in that 10 year period.

we're just getting warmed up. :2 cents:

Sure the positive group of people around here. Just post negative shit all day. Congrats to you all. I bet you live exciting lives.

eat a fucking hot turd.

sucks not to be too big to fail I guess.

Amp we should go rollin' down Rodeo with a shotgun sometime soon man. Fuck the system!

Tell us, where does one purchase the rose tinted glasses you view the world through?

Let me know when we get to the banks that didn't do a bunch of crap business and fraud. :thumbsup

such a unicorn exists?

Better yet... GOLD EFTs

Oh yeah, out of the 8500+ banks in America, only a small percentage of them are in any danger of closing.

This image is quite appropos

http://i240.photobucket.com/albums/f...ill_window.gif

they just haven't been caught with their fingers in the cookie jar.... yet.

LOLOL I see things for what they are, the good and the bad. You are so far whacked to the negative side that you see people in the middle as "rose tinted glasses" viewing the world.

Sorry, I live in a place called reality. You see, here in reality so much negative shit goes on it's impossible to ignore. So.. about those glasses..

you doomsday, the end is nigh guys crack me up. you all have an incessant need to drag everybody else down to your level of pessimism and to also require we all have the same view.

i guess the age old adage is true- misery seeks company.

It always amazes me how many banks and other fairly sizable companies fail left and right, and then recall everything the govt did to prop up Fannie Mae/Freddie Mac and AIG. Fucking incredible.

consolidation is all part of the plan kids.

less banks = more power in the hands of those that are still around.

Fannie Mae/Freddie Mac back, like 95% of all mortgages in America.. Then all major corps, banks, etc take out Insurance policies on each us, employees, people that use the service even.. and AIG was that insurance company.

They didn't just proper them up when they bailed them out, they saved Americans and American Corps trillions in lost money by doing it.

Invest in seeds and farm land. It will come in handy - if not for you, then for your children.