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December 1, 2009

Banks Crash? Economic Contraction? 123 bank failures in 2009 vs 25 for 2008

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The failed bank list on the Federal Deposit Insurance Corp.'s web site is long, very long. If 2008 was the year of the financial crash what is 2009 with 123 bank failures, and still counting?

No wonder the Federal Deposit Insurance Corp has to replenish its fund to cover the losses- from the banks that are still in business.

 

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