According to Calculated Risk, the number of banks in the U.S. that
are in danger of failing hit 985 last week, the highest level since the
beginning of the financial crisis. That's up from 935 at the beginning of the
year, just three months ago.
When
Calculated Risk began compiling its list of troubled banks back in mid-2009, the
number of banks in trouble in the U.S. was just under 400. In a little less than
two years, nearly 600 additional banks have slipped into the danger zone. And
that number appears to be getting bigger.
Curiouscapitalist.blogs.time.com
The
Unofficial Problem Bank List continued to climb as the Federal Deposit Insurance
Corporation (FDIC), released its actions for February 2011. With the passage of
another quarter, it is time to update the transition matrix.
Dawnwires.com The
Unofficial Problem Bank List debuted on August 7, 2009 with 389 institutions
with assets of $276.3 billion. Over the past 19 months, 176 institutions have
been removed from the original list with 120 due to failure, 40 due to action
termination, and 16 due to unassisted merger. Almost 31 percent of the 389
institutions on the original list have failed, which is substantially higher
than the 12 percent figure usually cited by the media as the failure rate for
institutions on the FDIC Problem Bank List. Failed bank assets have totaled
$166.6 billion or 60 percent of the $276.3 billion on the original list.
Dawnwires.com The
number of problem banks, as listed by the FDIC, had been rising in the third
quarter of 2010. The number went from 829 at the end of the second quarter to
860 in the third quarter. Forty-one banks failed in the third quarter, an
average of about 3.2 banks per week. A total of 149 banks were closed through
the first three quarters of 2010, an average of 3.8 per week.
Bullfax.com
John
Kanas, whose private equity firm bought BankUnited of Florida predicted in 2009
that the U.S. banking system will lose some 1,000 institutions by 2011.
Cnbc.com According to the Federal Deposit Insurance Corporation (FDIC), nearly
340 banks have been seized by the government since 2008. As of Feb. 8, the total
number of bank failures in 2011 has been 16, compared to 157 in 2010, 140 in
2009, 25 in 2008 and just 3 in 2007. Fdic.gov More
than 10 percent of America's 7,760 banks are still in financial trouble.
Rawstory.com Nearly
100 banks in shaky condition got more than $4.2 billion in infusions from the
Treasury Department under the Troubled Asset Relief Program (TARP).
Online.wsj.com Many
economists believe the U.S. bailout plan will stoke inflation and make it more
difficult to get out of the economic crisis. Curiouscapitalists.blogs
RS/SM/MMN
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