As Bank Failures Rise, F.D.I.C. Fund Falls Into Red | New York Times
Posted by Faiz on November 25th, 2009
“[T]he number of [US] bank failures will probably keep climbing. So far, the F.D.I.C. has seized and sold 124 banks in 2009, and analysts expect hundreds more to collapse in the months ahead. That has put significant pressure on the F.D.I.C. fund, which posted a negative balance for the first time since 1992 when regulators cleaned up the carnage from hundreds of failed thrifts and other commercial lenders.”
