552 banks are currently at risk for shutting down
Filed under: Banks
Could your bank fail? There's still a chance, but if you study the numbers, the odds are still highly in your favor that your financial institution will be sticking around.Earlier this week, the Federal Deposit Insurance Corp. came out with its third-quarter report, stating that the number of troubled banks has climbed to 552.
The report reveals the health of the banking system as of late September. The current total of troubled banks is up from 416 at the end of June, and 305 at the end of March.
It looks bad, and it is, but at the same time, the United States has approximately 8,300 banks total, so the number of "problem banks," as the FDIC calls them, is still relatively small -- under 10% of the nation's banks.
That's not to say you have a 10% chance of your bank going under, though, because if your bank has been listed as a problem bank, that doesn't mean it will close. According to CNNMoney.com, just 13% of banks that have shown up on the FDIC's problem list have shut down.
Unfortunately, if you're thinking, "Boy, I need to see the FDIC's problem banks list," you can't. They don't publish it, which makes sense because seeing it could just make a bad problem worse. If the list were public, people might take their money out of the troubled banks, causing a run on the banks, thus pretty much finishing them off.
For what it's worth, 552 problem banks isn't a record. In 1993, in the aftermath of the infamous savings and loan scandal, the FDIC listed 575 banks as troubled.
All in all, 124 banks this year have so far failed.
Reader Comments (Page 1 of 1)
11-24-2009 @ 5:05PM
Michele said...
I hope that Bank of America is one of them!
Reply
11-25-2009 @ 6:26AM
Slartibartfast said...
I agree 100%. I've heard Bank of America is in trouble. They should be, they treat their customers like crap. I look forward to the day Bank of America collapses in ruins.
11-30-2009 @ 6:51AM
Around Town said...
Bank of America! They own the naming rights of the NFL's Carolina Panthers Stadium. http://football.ballparks.com/NFL/CarolinaPanthers/index.htm
11-25-2009 @ 1:46AM
sebastian cox said...
So you really thought that you'd lit the fire in the world and your own home will be safe? You thought you got away with justice, when you protected your soldiers who raped children where ever they went, be it Japan, Korea, Iraq or Afghanistan. You thought justice will never get you when killed innocent civilians and when asked, just replied, "hey, chic got in the way". Your sgt. Green walks away from the court, after raping a 14 yr old iraqi girl and then putting a bullet in her head and then killing of her family.
You let him walk away, thinking in a way that you excused him off any crimes he committed in Iraq. Well, he is gonna come back and rape an american girl very soon.
Your economic system will collapse and when it will, probably the world may suffer, but you will suffer the most. Your own people would have gone so nuts, they will literally feed of each other. If you think i'm not right, then why was that girl gang raped in Iraq's halilburton compound by her very own american fellow workers? Why so many female soldiers were raped by their own fellow men in uniform.
You are going to eat each other, very soon.
The thousands of innocent blood in Iraq & Afghanistan will come back to take its revenge.
Reply
11-26-2009 @ 8:36AM
Gracia Peone said...
Beware of CHASE bank - There raising there interests & reducing limits on customers that have never been late or missed a payment
Reply
11-27-2009 @ 11:22AM
Ron said...
Remember our history! how many of you can still plant a garden? Skin and cut up a beef critter? Make lye soap in a kettel? with the internet I am sure you could get those instructions, get ready we are about to do what Albert said could not be done. We are going back in time, at the start of World War II we ranked somewhere about 10-11th as a power, we have had our run and it is destroying the fabric of or Country. I understand we cannot even have a Christmas tree at the White House it is now a Holiday Tree. Money is important but the future of our children and grandchildren is what we teach them from our past, we as a group of people are not matched anywhere in this world because we are actually all of them put together. Bunker down, learn how to survive, teach your children the traits and maybe after we shake this current hippie, flower child government we will again start on a path to total victory. God Bless and Good Luck America!! Buy gold, buy a safe and a few guns. "DEO VINDICE"
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12-06-2009 @ 1:49AM
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