Bank Failures Continue to Climb While Government and Media Try to Paint Good Economic News

Info on Other Site: List of Bank Failures

Community First Bank Prineville OR 23268 August 7, 2009 August 7, 2009
Community National Bank of Sarasota County Venice FL 27183 August 7, 2009 August 7, 2009
First State Bank Sarasota FL 27364 August 7, 2009 August 7, 2009
Mutual Bank Harvey IL 18659 July 31, 2009 August 5, 2009
First BankAmericano Elizabeth NJ 34270 July 31, 2009 August 5, 2009
Peoples Community Bank West Chester OH 32288 July 31, 2009 August 5, 2009
Integrity Bank Jupiter FL 57604 July 31, 2009 August 5, 2009
First State Bank of Altus Altus OK 9873 July 31, 2009 August 5, 2009

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Article: Other Site:

U.S. Bank Failures Rise to 72 With Collapses in Florida, Oregon

From Article:
The FDIC, based in Washington, insures deposits at more than 8,200 institutions with $13.5 trillion in assets and reimburses customers for deposits of up to $250,000 when a bank fails. This year’s failures have cost the insurance fund more than $15 billion.

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Opinion:

To what degree has government fought off the depression and to what degree has the government simply made statistics misleading to hide a problem that persist. Perhaps the economy is being made worse by the government itself. I am not really sure.

The continued bank failures is more than just a little troubling. And then there is Geithner telling Congress they must raise the $12.1 trillion statutory debt limit by Christmas. While government debt has been increase, government revenue has not based on current tax structure and that suggest the over all economy is not responding to government intervention.

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Article: Other Site: Geithner asks Congress for higher U.S. debt limit