Banks report small profit but 'problem' list jumps Banks earn $914 million in fourth quarter, but number of problem banks jumps above 700 WASHINGTON (AP) -- America's banks eked out a small profit in the fourth quarter as the economy recovered, but the number of banks considered troubled jumped to more than 700, the government reported Tuesday. The Federal Deposit Insurance Corp. said banks essentially broke even in the October-December period. They earned $914 million, compared with a $37.8 billion loss in the fourth quarter of 2008. Still, the number of banks on the FDIC's confidential "problem" list leaped to 702 from 552 in the third quarter, the FDIC said. Most of the improvement in earnings was due to the largest banks. But signs emerged of a broader positive trend in the industry, the FDIC said. For the first time in three years, more than half the 8,000 or so federally insured banks and thrifts reported higher income compared with the year-earlier quarter. More... ______________ Also read up on the unfair practices of FDIC targeting community banks over large banks when it comes to liquidation. http://www.elitetrader.com/vb/showthread.php?s=&threadid=191628 LET YOUR VOICE BE HEARD. GIVE POWER (AND MONEY) BACK TO THE PEOPLE!