Banks at risk of going bust tops 700

Banks at risk of going bust tops 700

money.cnn.com

NEW YORK (CNNMoney.com) -- More than 700 banks, or nearly one out of every 11, are at risk of going under, according to a government report published Tuesday.

The Federal Deposit Insurance Corp. said that the number of banks on its so-called "problem list" climbed to 702, its highest level since June 1993.

The number of banks under scrutiny by regulators has moved steadily higher since the recession began.

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Things are looking worse everyday for some banks. In 2007 there were 53 banks in this situation , however today the number has slowly increased to 700+. I am under the impression that very many of the banks known today will fade away one way or another due to financial and managerial difficulties. Therefore people should be even more careful who they trust their money with from now.

money.cnn.com
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[edit on 23-2-2010 by Fatality]