85th Bank Fails

Discussion in 'Economics' started by IanMacQuaide, Sep 4, 2009.

  1. http://ca.news.yahoo.com/s/capress/090904/business/apfn_us_bank_closures_3

    ""NEW YORK - Regulators on Friday shut down First Bank of Kansas City in Missouri, pushing to 85 the number of banks that have failed this year under the weight of the soured economy and rising loan defaults.

    The Federal Deposit Insurance Corp. was appointed receiver of First Bank of Kansas City, based in Kansas City, Mo. It had $16 million in assets and $15 million in deposits as of June 30. ""

    The article goes on to state that 100's of banks will fail in the next few years...