Thursday, February 25, 2010

Hello, Again, everyone. We had some lake effect snow last night but not as much as predicted or as much as some other areas got. We may get a bit more today but the sun is trying to come out. We get a glimpse every now and again. Luckily this won't be coming your way, Kay. I hope the new system that is supposed to hit the northeast misses you.

A banking related topic that doesn't involve executive compensation, unwillingness to loan, or gouging customers has reappeared lately after hibernating for the last couple of months: bank failures. Yesterday our nightly news business section noted that a 20th bank has failed so far this year and Saturday the local news note that the Fed took over 3 Chicago banks after closing on Friday night. Last year somewhere around 130 banks failed and some 400 were listed as in danger. If this pace continues this year will come close to last year and the watch list contains 700+ banks so far.

1 comment:

Looking to the Stars said...

You know it really bothers me that all of a sudden banks are going under. It doesn't make sense. I worked in a bank in Calif., when I got there it had just been bought by Mitsubushi. They were good people to work for. So, I don't know what really is going on with these banks. Things that make you go, ummm.

have a good one :)