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A brief update of a blog of about a month ago regarding banking: The FDIC reports that 83 banks have been closed so far this year. While there were 140 bank failures in 2009, we are on track (based on a simple extrapolation of current trends) to experience at least 160 bank failures in . . . → Read More: Banks How are banks doing? We discuss a few measures. We closed 16 banks in May so far, with 73 so far this year according to the FDIC. There were only 36 bank failures through May of 2009. While there were 140 bank failures in 2009, we are on track (based on a simple extrapolation . . . → Read More: Banks This recession and its accompanying financial crises started with large financial institutions making headlines with bad loans, liquidity problems, and in many cases insolvency. The driving factors at that point were the toxic residential-real-estate-based securities filtering their way through the financial system. Many large financial institutions were highly exposed to securitized packages of residential . . . → Read More: Bank Failures |
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