TARP: Bank Failures at Highest Level Since 1992, A Ton Of Bailed-Out Banks Are On The Brink Of Collapse

from theblogprof by The blogprof


TARP: Bank Failures at Highest Level Since 1992, A Ton Of Bailed-Out Banks Are On The Brink Of Collapse: "

All that TARP money to prop up banks? The prop-up part of it isn't going so well. Via Instapundit:

OH, GOODY: A Ton Of Bailed-Out Banks Are On The Brink Of Collapse. “98 American banks that received $4.2 billion in bailout money are teetering on the edge of collapse, according to the Wall Street Journal. In Q2 the number of unsound banks numbered 86; the increase to almost 100 institutions – most of which are smallish banks with about $439 million in assets – comes as a result of decreasing capital and more bad loans.”

And from the Wall Street Journal via memeorandum: Bank Failures at Highest Level Since 1992

More banks failed in 2010 than any year since the savings-and-loan crisis ended in 1992, but regulators said Wednesday that they believe failures have passed their peak.

So far this year, the 157 banks that failed had total assets of $92.1 billion compared to 140 bank failures with total assets of $169.7 billion in 2009.

Not quite a double-dip, but not exactly good news going into 2011...

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