And another 6 banks got closed last night

[BR_Parkway]

3 in GA, 1 in VA, 1 in IL and 1 in OH

http://www.fdic.gov/bank/individual/failed/banklist.html

[Shagbark Hickory]

1. There's only going to be one bank left by the time the recession is over. Bank of America.

[onenote]

3. you expect this recession to last 80 years?

Cause at the current rate of bank failures that's how long it would take for the more than 8000 banks/savings institutions in the US to go out of business.

[Shagbark Hickory]

4. I wouldn't be surprised. Nothing has been done to fix the root of the problems. n/t

[BR_Parkway]

5. That will be the nameplate left over when Goldman Sachs buys them

[KharmaTrain]

2. Another Friday At The FDIC...

A week doesn't seem to pass without a Friday visit by the FDIC auditors at several banks. Most are small banks that got swept up in bad real estate loans; ending up with a bunch of foreclosed and depressed property on their hands as well as tons of consumer debt and poor business loans. It was trying to keep up with the big guys (who got the bailouts) that pulled these little ones under and continue to do so.