s skippy the bush kangaroo: forget running for the border....

skippy the bush kangaroo

Tuesday, August 26, 2008

forget running for the border....

perhaps a run to your bank is in order.

the health of u.s. banks is quickly deteriorating, and the government fund set up to protect depositors might not have enough money to insure everybody, analysts told abcnews.com.

..at the beginning of the year, 90 banks were on the fdic watch list. there are now 117, fdic chairwoman sheila c. bair announced at a news conference this afternoon. that is the highest number in five years, but some analysts expect the list to grow even more in coming months.

"i think there's going to be a steady drip, drip, drip of bad news," said sean ryan, a banking analyst with sterne agee. "we've only seen the very tip of the iceberg in terms of bank failures."

even though only nine banks have failed so far this year, ryan expects that to quickly climb with more than 100 failures before the end of 2009- abcnews.com

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posted by SantaBarbarian at 4:38 PM |


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