117 Banks in Danger of going Belly Up!
SONOFABUSH! The list gets longer and longer! This from cnnmoney:
Problem bank list keeps growing
FDIC says list of troubled banks in 2nd quarter grows to 117 with $78 billion in assets – up from 90 banks, $26 billion in assets in 1st quarter.
Last Updated: August 26, 2008
NEW YORK (CNNMoney.com) — The number of troubled banks on the government’s watch list grew dramatically last quarter.
The Federal Deposit Insurance Corp. reported Tuesday that the number of firms on its so-called problem bank list grew to 117 during the second quarter – its highest level since the middle of 2003. There were 90 banks on the problem list in the first quarter.
FDIC Chairman Sheila Bair expressed little surprise at the increase and warned that the number would grow.
“More banks will come on the list as credit problems worsen and assets of problem institutions will continue to rise,” said Bair in a press conference.
The number of troubled institutions has moved steadily higher this year – nearly doubling from 61 at the same time a year ago – as banks across the country struggle to cope with the fallout in the housing market and rising loan losses.
Problem banks typically face difficulties with their finances, or are suffering through operations or management issues that pose a threat to their existence.
DAGNABIT! There have been nine failures so far this year. It’s anyone’s guess how many more will fail. We may ALL wind up looking like the poor indymac bank customers pictured above. This is the worst economy I’ve seen in my fifty years of life. There simply is no end to the bad news. Whether it’s the dow, or the price of health care, food, gas and EVERYTHING ELSE going UP, UP, UP. Be it rising unemployment, or home forecloses. There just isn’t any GOOD ECONOMIC NEWS!
YOU have to remember WHO has been running this country into the ground for DECADES! It is the dirty dems AND filthy repubs! YOU have to understand that voting one of the syphilitic co-joined twins of the apocalypse called mcbama in, WILL NOT MAKE A CHANGE! THEY ARE BOTH GOING TO CONTINUE THE DISASTERS!
Watch this video! I couldn’t have said it better then this video does!
There is only one presidential candidate who offers US REAL CHANGE! Support and vote for NADER!
The Telepathic Crickets™ on the ClapSotronics editorial board and I hope you have the address of YOUR local soup kitchen. If mcbama takes the oval office, YOU WILL NEED IT!
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