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| January 24, 2010: An alarming number of banks - 9 so far - fail in the US... |
With the failure of 5 more banks seized by regulators on Friday, the number of bank failures during the first 23 days of this year has now risen to 9. Two of the failed banks had assets of over $1 Billion.
Although the US economy is showing early signs of recovery, banks in the US continue to suffer the consequences of ill-advised and defaulting loans and mortgages. The Federal Deposit Insurance Corporation continues to suffer significant losses consequential to the increasing number of bank failures in the US.
E.&O.E.
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