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August 26, 2008

More banks not so healthy

FDIC says “problem” banks were up 30 percent in the second quarter. Again, all you Pollyannas, let’s not claim we’re around the corner on housing-related issues.

After all, we’re not even at the bottom yet on bank problems:
“More banks will come on the list as credit problems worsen,” FDIC Chairman Sheila Bair said at a news conference in Washington.

In short, whomever is elected president will have a “fun” 2009.

The FDIC is already looking at increasing bank insurance fees, something that should have been done years ago.

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