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FDIC: 'Problem' Banks at 775

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posted on May, 21 2010 @ 04:10 PM
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FDIC: 'Problem' Banks at 775


online.wsj.com

WASHINGTON—A total of 775 banks, or one-tenth of all U.S. banks, were on the Federal Deposit Insurance Corp.'s list of "problem" institutions in the first quarter, as bad loans in the commercial real-estate market weighed on bank balance sheets.

Poor loan performance in other sectors also continued to hurt banks, with the total number of loans at least three months past due climbing for the 16th consecutive quarter, FDIC officials said in a briefing on Thursday.

"The banking system still has many problems to work through, and we cannot ignore the possibility of more financial marke
(visit the link for the full news article)




posted on May, 21 2010 @ 04:10 PM
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There were 702 on the FDIC's "problem" bank list at the end of 2009 and 252 at the end of 2008.

FDIC officials said they expected the number of failed banks to peak this year after climbing steadily over the past three years. Regulators have shut 72 banks so far this year, more than double the number closed by this time last year. Ms. Bair said regulators were preparing for a steady pace of additional closures through the end of the year. A total of 237 banks have failed since the beginning of 2008.


I dont think this is surprising to anyone. 10% of the banks in the US are now on a problem list, why do i have a feeling the number is actually higher then that.

does this have anything to do with the recent troop movement inside the US? whats the market going to look like Monday i wonder.

(sorry not trying to be all doom and gloom, just curious if theirs a connection)

online.wsj.com
(visit the link for the full news article)



posted on May, 21 2010 @ 04:17 PM
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given the current state of the FDIC, it would be disastrous even a few of these banks failed. The FDIC announced, back in September, that their insurance fund was in the negative.

www.thefinancialphysician.com...

It's one thing to have banks fail and account holders get their money back via insurance. It's a frightening world when the insurance is gone.



posted on May, 21 2010 @ 04:20 PM
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I bet the % is higher just like the estimate for the oil spill was a low ball figure.



posted on May, 21 2010 @ 04:31 PM
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All while the FDIC runs at a $20 billion dollar deficit. If I did business like this I would be put in prison.

This kind of crap is getting seriously out of hand. We might as well abolish the FDIC since your funds are only insured on paper! A piece of paper and a placard on your bank teller's window is all they have! No money, no assets, no liquid securities. Nothing.

Get cash out of the bank NOW. Keep only what you need to pay bills and to keep in positive. If you can't afford gold, buy silver coins(shop around and do your homework. I don't accept prices more than 15% above spot price. don't buy as an investment, treat it like foodstuffs and supplies).

Kepp cash around, because the first round of this will be deflation. And once the dollar selloff starts you'll be glad you kept the metal around.

[edit on 21-5-2010 by projectvxn]



posted on May, 21 2010 @ 05:06 PM
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I for one am tired of wating can we please just get this over with one way or the other.
3 years now all i can get is part time here part time there. I would be glad for a bk job but at 44 im long in tooth to flip burgers they higher kids for the tax brakes
. any one need a good handy man? i can fix cars trucks farm equipment.
small engines repair fence lines and put them up .
save you tonns of money on vet bills with your cows .
and fix your pluming wiring build you a porch or barn .
and even fix your computer to boot .
and people say i dont want to work man this sucks



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