Friday, January 29, 2010

The Obama Recovery Continues: More Than a Dozen Banks Seized by the FDIC in January Alone

140 banks were shuttered by the FDIC in 2009. Thanks to the Obamaconomy, the U.S. is on track for a double-digit increase in failed institutions. Based upon January's results, at least 156 banks will fail in 2010.

Regulators have shut down two banks in Georgia, and one each in Florida and Minnesota, boosting to 13 the number of bank failures so far in 2010, following 140 closures last year in the punishing economic climate.

The Federal Deposit Insurance Corp. on Friday took over the four: First National Bank of Georgia... Community Bank and Trust of Cornelia, Ga.... Florida Community Bank of Immokalee, Fla.... and Marshall Bank of Hallock, Minn.

It would seem these banks never received the memo that President Obama has saved or created over four hundred quadrillion jobs since his historic election.

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