FDIC - 6 more banks closed this past week

In my opinion, one of the quieter aspects of the economy is the FDIC's closing of banks. There's just not a big hoopla when it happens and six more were shuttered this week.

As reported by the Morris County Daily Record's Associated Press Wire,

Regulators on Friday shut down three banks in Florida, two in South Carolina and one in Michigan, bringing to 96 the number of U.S. banks to succumb this year to the recession and mounting loan defaults.

The closures will cost the FDIC about $330 Million. That's not chump change. We're sure more banks will close before this recession is over.

Read the full article here.

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