colonial bank: Bank Failures Surge to 77 - 08/16/09 01:28 AM
Colonial Bank became the biggest bank failure this year, the 6th biggest of all time, and the largest since Washington Mutual, as the FDIC took over the company on Friday, according to an article written by Alison Vekshin, David Mildenberg and Dakin Campbell in Bloomberg.com
Additionally, four more banks were taken over this weekend, bringing the total this year to 77.
This is more than triple the number of bank failures that we saw in 2008 when there were only 25, and we still have over four months left to the year.
The reason why the number of bank failures are escalating is because of the number … (4 comments)

 
Mark MacKenzie

Mark MacKenzie

Phoenix, AZ

More about me…

Office: (480) 600-0330



Links

Archives

RSS 2.0 Feed for this blog