Comments on: More That 700 Banks In Trouble

By: Guaranteed Second Chance Checking Accounts

Guaranteed Second Chance Checking Accounts — Sun, 17 Oct 2010 07:02:48 +0000

It looks like the FDIC Chairman was right. Just today I read that Premier Bank of Jefferson City, Mo., was closed Friday, bringing the tally of U.S. bank failures this year to 132. It did escalate: from 20 at February end 132 by mid October…

By: Mitch

Mitch — Wed, 24 Feb 2010 16:04:24 +0000

Actually Tim, I read where there’s been talk that if Citigroup can’t survive on its own and needs help again that it might be broken up, in which case there will be one less sneaky bully on the block to deal with.

Also, I don’t think banks will start being able to totally sustain themselves again until unemployment makes a drastic recovery.

By: Tim Manni

Tim Manni — Wed, 24 Feb 2010 15:03:24 +0000

Hey Mitch,

I’m kind of actually surprised to hear Sheila say that…I had thought (I guess more like hoped) that failures would have diminished by now. But as you said, maybe this is a “weeding out” process that will separate the good from the bad.

The number of troubled banks alone doesn’t scare me too much, because, as you noted, only a small majority fail. Unfortunately for you, haha, Citigroup is Washington’s property so they’ll stick around no matter how troubled.

Talk to you soon,
Tim