Anyone else notice that Drudge doesn't post the weekly "X banks closed
by FDIC" anymore?
You know what I mean. Friday is bank closing day in the USA.
Every friday, in the late afternoon, a convoy of black SUV's with tinted
glass rolls up to all the banks that that the FDIC is going to shut
down. A swarm of men in suits with briefcases and dark sunglasses get
out of the SUV's and enter the banks. The last one through the door
flips the "Open" sign around and locks the doors.
It usually doesn't make the news until saturday or sunday, and Drudge
would post the story on Sunday or Monday.
So let's see what got shutdown today:
(does google news search for FDIC bank closure)
Ah, this looks like a good link:
Texas Bank Is Closed; U.S. 2011 Failures at 74
Texas regulators closed First International Bank of Plano, bringing the
nationwide tally of bank failures to 74 for the year.
The average size of banks that fail has shrunk significantly since the
financial crisis, but the pace of failures has picked up slightly
recently. Some 26 banks failed in the third quarter, the same as in the
first, but the number had dropped to 22 in the second quarter.
I think there was about 130 banks closed last year in the USA, and
dozens more in the previous few years.
Number of banks closed in Canada in the past few years: Zero.