Have You Stopped Counting Banking Closings Yet?

[MarketNeutral]

Seven more U.S. banks were closed by regulators Friday, bringing the total number of bank failures for 2010 to 57, added to the 140 closures for 2009. The seven banks are all based in Illinois. The federal deposit insurance fund will absorb a bill for $973.9 million for these 7 banks alone, according to the Federal Deposit Insurance Corp. 200 closures are expected for 2010.
http://www.inthemoneystocks.com/n_rant_and_rave_blog_single.php?id=7114

[Ponce]

Your numbers are correct........

[optionT]

I wonder if it will be a slow decline or will it accelerate ever? I mean, this seems like a slow motion crash.

[Ponce]

It is accelarating.........the only thing is...........

"They will tell only what they want you to know or, what they cannot longer hide"... Ponce

Just remember that the longer the article the more lies that they are telling you.

[MarketNeutral]

15 in the last 2 weeks. Annualized that is 390. 49% more then the estimate for 2010.

So increasing.

[BoatingAccident]

I'm starting to wonder, are we at a point, where we should stop couting bank closings!?!

How many banks are there still alive, how many banks are left?

At some point, we've got to switch from counting the casualties, to just keeping an eye on the survivors.

I'd honestly like to know. Nobody wants to talk, about that.

[techguy]

Just think how much easier it will be for <gov to keep track of all the financials when there are only a couple of nationalized banks left? (or should I say the 3 or 4 banks that own the country?)

Isn't this the logical conclusion?

[Ponce]

Ouchhhhhhhhhh Tech Guy, that hursts..........but very possible.

[Neuro]

Just think how much easier it will be for <gov to keep track of all the financials when there are only a couple of nationalized banks left? (or should I say the 3 or 4 banks that own the country?)

Isn't this the logical conclusion?
The biggest criminals are left standing strong with huge aid while the small grunts are folded. If it was a free market, the big criminal banks would long ago be gone, many more of the careless small and medium sized banks as well, left standing would be a small number of small and medium sized conservative and careful banks. The only ones that will be left standing is a handful of utterly corrupt and criminal Federal Reserve Bank owners, unless the monetary system collapses (which I think is likely and in the long run inevitable.