Worst Year in US Bank Failures Will Get Worse
by Brian Wang from NextBigFuture.com on (#6BCRN)
3 of America's 4 largest bank failures have occurred in the past two months. This has cost FDIC's deposit insurance fund ~$35 billion. The fund started the year with about $125 billion. $20 billion for Silicon Valley (mainly bailing out uninsured depositors) $2.5 billion for Signature $13 billion for First Republic By many measures, this ...