Friday, August 7, 2009
Big Banks Still Failing
The United States may be hitting the bottom of the recession and may be on the turn around to get above water soon but the U.S.'s big banks have yet to come that far along. The FDIC has listed 305 banks as being problematic and Bankrate.com has given two dozen banks with $5billion+ in assets a one-star rating for soundness and safety, three banks have stated that they are close to collapsing. 69 banks have already failed this year. It will seemingly take a lot longer for banks to follow the trend and begin their recovery.