Tuesday, 27 October 2009

Seven more Banks Failed Friday, Pushing the 2009 total to 106 and Marking the First Year since 1992 that at least 100 have Gone Under.

Experts suggest we could be no more than 10% of the way through this cycle of bank collapses, which is sure to be the worst run of closures since the Great Depression.

The parade of failures continued on Friday with closures of three banks in Florida, one each in Wisconsin, Georgia, Minnesota and Illinois.
See story.

So far 106 banks have failed in 2009.
See FDIC timeline of 2009's failed banks.
http://www.marketwatch.com/story/bank-failures-hit-100-for-year-2009-10-23

More evidence of the economic non-recovery.

[Posted at the SpookyWeather blog, October 27th, 2009.]

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