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: Structured Settlements 4Real

1,000 Banks to Fail in Next 2 Years, FDIC Fund Down 20% in Q2 2009

By John Darer

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On a day when AIG stock jumped 30% this sobering news came out of the banking sector: "With bank failures rising, the FDIC fund fell 20 percent to $10.4 billion in the second quarter as U.S. banks lost $3.7 billion".

-Associated Press report See Interview with FDIC Chairperson Sheila Bair: Then came this :1,000 Banks to Fail in next 2 years" says Bank Executive WOW!, It's a good thing they raised the FDIC credit line from $30B to $500B in May. And THEY say it's supposed to rain all weekend!

Full post as published by Structured Settlements 4Real on August 28, 2009 (boomark / email).

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