Sunday, August 02, 2009
Obama's Feds Close More Banks
The Federal Deposit Insurance Corp. announced on Friday the closure of five more banks all located in different states. The banks are in Texas, New Jersey, Ohio, Florida, and Oklahoma. This brings the total of banks that have failed to 69 this year.
Friday's bank closures will cost the FDIC fund $911.7 million, bringing the total cost for failed banks to $15.13 billion this year. That compares with $17.6 billion in all of 2008.
The number of bank failures so far in 2009 has almost tripled last year's total of 25.
Heckuva Job, Barry! Heckuva Job!
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