Bank failures: '09 tally reaches 23

Bank failures: '09 tally reaches 23

money.cnn.com

Two banks failed Friday, bringing the 2009 tally to 23, according to the government.

Cape Fear Bank of Wilmington, N.C., and New Frontier Bank of Greeley, Colo., closed their doors for the last time Friday, said the Federal Deposit Insurance Corporation.

The failure of Cape Fear will cost the Deposit Insurance Fund an estimated $131 million, according to the FDIC.

The FDIC said the failure of New Frontier will cost the Deposit Insurance Fund an estimated $670 million.

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The bank failures just keep getting bigger and bigger. One Friday cost the FDIC nearly a billion bucks.

I have a feeling that the fish are just going to keep getting bigger. I would imagine they are only closing 2 and 3 at a time due to staffing issues. The must have a list that they're working their way down, where the bigger fish are towards the bottom.

We're going to surpass the number of bank failures in 2008 in no time.

money.cnn.com
(visit the link for the full news article)

So.... I'm guessing you have no good news to add to this.....that's what I thought.

Well here ya go, with each bank gone we have less to pay fees for

We are definately going to pass 2009, don't take my word for it ask Gerald Celente.

Bank Holidays here we come!!