Monday, July 14, 2008

Chronicles Of Depression 2.0: #151

Analysts say more U.S. banks will fail

There are just two paragraphs in this article that say it all:
In 1994, the Federal Deposit Insurance Corporation listed 575 banks that it considered to be troubled. As of this spring, the agency was worried about just 90 banks. That number may go up in August, when the government releases an updated list.

Emphasis added by me.

Ah, that doesn't sound like any kind of disaster, right?

Um, then look at this:
And yet IndyMac, one of the nation's largest mortgage lenders, was not on the government's troubled bank list this spring — an indication that other troubled banks may be below the radar.

Emphasis added by me.

What else is under the radar? What else is out there waiting to explode?

Where is your money

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