Time for our regular bank failure update, courtesy of Ron Greiss at The Chart Store:

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Bank Failures

Category: Credit, Regulation

Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data and lack of respect for scientific knowledge. Be sure to create straw men and argue against things I have neither said nor implied. If you could repeat previously discredited memes or steer the conversation into irrelevant, off topic discussions, it would be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.

6 Responses to “FDIC Bank Failures”

  1. michaelismoe says:

    Financial stocks should jump on this data – maybe add another 5 or ten percent by the end of the week. Thank God the economy is improving.

  2. Steve Barry says:

    I heartily recommend Hussman’s market commentary, out tonight, which states “As of last week, the S&P 500 nearly matched the richest valuations, on normalized earnings, ever observed prior to 1995.”

    As for bank failures, the same piece quotes Merdith Whitney:

    “Looking forward to next year, Whitney warned of a 2010 outlook “which is so disturbing on so many levels to have so many Americans be kicked out of the financial system, and the consequence both political and economic of that is a real issue – you can’t get around. It’s never happened before in this country or in the modern economy. The biggest trend in 2010 will be seeing who gets kicked out of the banking system.”

    Meanwhile, in January, new accounting rules will kick in which will force banks to move off-balance-sheet “structured investment vehicles,” “trust preferred assets” and other beasts onto their balance sheet, which is expected to result in some sharp hits to bank capital. In response, regulators such as the FDIC will most probably be called upon to look the other way for a while.”

    http://www.hussmanfunds.com/wmc/wmc091214.htm

  3. Steve Barry says:

    It will also be interesting to see how state budget disasters play out…NY is already halting payments to localities…I guess then localities must cut services. This is getting shockingly little play even in NYC media. Americans just never want to face the bad news…just keep kicking the can down the road.

    http://www.bloomberg.com/apps/news?pid=20601103&sid=aFgggLG2mCg8

  4. captsteven says:

    We Americans as a hole like to be like the ostrich and keep our heads buried under the pile of crap that is thrown our way as the truth. Why is it that we believe all the lies and deceptions that we are told daily?
    It is time to smell the roses….get out of the market and put your money somewhere besides the banks. Would you believe gold is the place to be??? The toilet is getting ready to flush our banking system…so we need to do some drastic changes and plan for the inevitable, the market will crash sometime in the future.

  5. [...] to Big Picture blog, which keeps us posted on the weekly death count in the world of banks. The same data, viewed [...]

  6. foxorrabbit says:

    Whenever I see this chart I wonder why it’s not a chart of deposits ($) instead of # of banks. I mean, 100 banks with $1B in deposits each would be bad, but 50 banks with $8B in deposits each would be much worse. Can we see the chart with assets instead of # of banks?