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: Structured Settlements 4Real

Largest Number Of Bank Failures since 1992, BUT Still No Structured Annuity Issuers

By John Darer

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Rising loan defaults spurred by tumbling home prices and spiking unemployment have done in another 4 banks.

The failure of Austin, TX based Guaranty bank, which was announced on Friday, along with failure of three small banks in Georgia and Alabama Friday, brought the 2009 grand tally of U.S. bank failures  to 81 compared to 0 structured settlement annuity issuers being taken over by state insurance regulators

With more 4 months to go, the number of bank failures is the highest number in a year since 1992 at the height of the savings and loan crisis; it is more than 3 times the number all of last year and 25 times that in all of 2007.

Full post as published by Structured Settlements 4Real on August 23, 2009 (boomark / email).

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