FreeWebPress.com - Breaking News - Visit the FDIC website... http://www.fdic.gov/bank/individual/failed/banklist.html to confirm this report.
The national news media does not report much about it, but these facts are clear. Every month the FDIC has been closing large numbers of insured banks and lending companies. Massive bank failures that began in 2008 and were rampant in 2009, now appear to be increasing in 2010. The most deadly year ever for banks since the great depression was thought by FreeWebPress.com to be 2009. But 2010 may now surpass 2009, as we head into the last quarter.
In the year 2000 only two banks failed. This was followed in 2001 by four bank failures. In 2002 nine banks failed and in 2003 two banks failed. 2004 had four bank failures. 2005 and 2006 had no bank failures. 2007 had three bank failures. 2008 ended with twenty five bank failures. 2009 posted a massive one hundred thirty six bank failures. 2010 was to be the recovery year. From January through August in 2010 the FDIC has recorded one hundred seventeen bank failures. At the current rate, 2010 can surpass the devastating bank failures of 2009.
The TARP banks have fared well by eating their competition, the failed banks, alive. Only a few TARP banks have failed. Using TARP money to gain liquidity when all American banks were starving for capital, the TARP fed banks grew their monopolies. This trend remains intact through September 2010. As fewer and fewer businesses survive the TARP takeover, a few big companies now control America.
- Written by Mike Jaeger Live - Sept. 4, 2010 -
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