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08-21-2009, 03:47 PM #1
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Expect Many More Bank Failures Ahead
Expect Many More Bank Failures Ahead
Thursday, August 20, 2009 10:47 AM
By: Julie Crawshaw
The number of banks that had non-performing assets equal to at least 5 percent or more of their assets — considered a critical threshold - more than doubled in the year through June, according to data compiled by Bloomberg.
Altogether, the 150 banks hold assets of $193 billion, 15 times the FDIC's entire insurance fund.
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