Mish's Global Economic Trend Analysis Message Board

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Strategies & Market Trends : Mish's Global Economic Trend Analysis

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To: Sr K who wrote (83769)	8/26/2008 12:43:14 AM
From: Proud Deplorable	of 116555

FDIC Increasing Staff for Expected Increase in Bank Failures Category: Job Creation The FDIC is starting to increase its staff for what it expects to be a large number of bank failures. Currently, the FDIC has 4,600 employees. It is hiring 70 new employees and bringing back 70 retirees. The FDIC's Atlanta regional office, which covers seven states from West Virginia to Florida, also recently boosted its bank examiner and professional staff by about 10 percent, to about 300. The agency is also expected to soon raise the insurance premiums it charges banks and thrifts to begin rebuilding its reserves. The list that the FDIC maintains of "problem" banks totaled 90 institutions with $26.3billion in assets at the end of March. The confidential list is expected to be much higher when an updated version is released tomorrow.

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