More Banks Failing Than Opening - Long Trend Continues - July 2010 -
The decreasing competition, within the FDIC banking system, marches on. A long march of bank failures that exceeds new bank creation, began many years ago. This trend remains in the shadows, with few media resources reporting on it. This link to the FDIC web site below can confirm this report. A look at their list of bank failures brings the facts into focus. On the FDIC web site, you can look up the number of FDIC insured banks failing or opening by dates. Compare how growth ended many years ago. Hundreds of banks continue to fail this year,increasing this problem. Have you played monopoly? Is end game on, at the FDIC ?
http://www.fdic.gov/bank/individual/failed/banklist.html
FDIC: Failed Bank List
Published by Mike Jaeger Live
1 comment:
There are some interesting similarities between the current situation and the early nineties at the FDIC - (charts based on latest data http://www.r-chart.com/2010/08/how-safe-is-your-money.html). However, the amounts involved (and fewer new banks) as well as the FDIC's status put us in somewhat territory.
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