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Tuesday, January 4, 2011

How’s your bank doing?

Isn’t this still a problem? You don’t here much about it in the press but its still going on.


No matter how you slice it, we still had more bank failures in 2010 than in 2009.

Even if we look at it month to month it doesn’t necessarily show any significant trend of driving to zero.


March of 2009 was the last time fewer than 7 banks went under in a single month.

As much as the talking heads like to put a rosy “we’re climbing out of it!” face on, I‘m not convinced. We still haven’t seen a full reckoning on the value of all the properties the banks are holding onto in the vain hope of not being stuck standing when the music stops.

[source: FDIC failed bank list]

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