Worst not yet over for US banks, 95 shut this year
Press Trust of India / New York Sep 27, 2009, 16:24 IST
The economy might be slowly clawing out of the worst crisis in decades but the US bank failures are climbing by the day, with 95 of them going bust this year alone.
Painting a gloomy picture, Federal Deposit Insurance Corporation (FDIC), the body often appointed as caretaker of failed entities, recently said the count of problem banks, which are at the risk of collapsing, have jumped to 416 in the second quarter of 2009. The number of failed banks for last year stood at 25.
Content Guide
