Peak of the Week

Wednesday is the peak of the week. It is a good time for us to look back and peek forward. This chart on bank failures certainly shows us the historical approach government has taken and the seemingly slow start of bank investigation thus far?

Remember the ’89-’91 recession triggered primarily by the Savings and Loan failures! It would seem that investigations were initiated almost immediately. Would it not be a good thing to investigate these failures now?

140 banks failed in 2009

143 banks have failed in the first 10 months of 2010!

It is reported that the FDIC deposit-insurance fund is $21 billion in the hole after absorbing the losses from the bank failures.