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Politics : Liberalism: Do You Agree We've Had Enough of It? -- Ignore unavailable to you. Want to Upgrade?

To: FJB who wrote (83684)	5/9/2010 10:57:34 PM
From: Hope Praytochange	Read Replies (1) \| Respond to of 224744

Once again there is little if any reporting in the media about the continuing bank failures. Regulators on Friday shut down banks in Florida, Minnesota, Arizona and California, bringing the number of U.S. bank failures to 68 this year. With the 68 closures so far this year, the pace of bank failures this year is double that of 2009. By May 1 last year, U.S. regulators had shut down 32 banks. The number of banks on the FDIC's confidential "problem" list jumped to 702 in the fourth quarter from 552 three months earlier, even as the industry squeezed out a small profit. Still, nearly one in every three banks reported a net loss for the latest quarter.The FDIC expects the cost of resolving failed banks to grow to about $100 billion over the next four years.The agency mandated last year that banks prepay about $45 billion in premiums, for 2010 through 2012, to replenish the insurance fund.