Bankers’ hours have been reduced by 122 failures this year. Banks are folding faster than paper money, but they have not reached the 179 savings and loan record closings of 1992. It is November, hurricane season is nearly over, and the FDIC may not have time this year to address the 400 plus “problem” lenders they tallied in mid-2009.
Yes, the FDIC has made a list, they are checking it twice, and they are going to find out which lenders are naughty and nice. Furthermore, for the first time in history they are mandating that premiuims be paid in advance. This will help replenish their recent rapid outpouring of insurance funds by about $45 billion.
Do not count on extended lobby hours any time soon, but at least we have online banking.
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