"For all of 2009, banks earned $12.5 billion, up from $4.5 billion in 2008"
"Number of troubled banks hit 700; Failures expected to cost FDIC fund $100b by 2013" by Marcy Gordon, Associated Press | February 24, 2010
WASHINGTON - The number of US banks considered troubled jumped to more than 700 last quarter, even as the industry eked out a small profit, the government said yesterday....
How did you do this year, America?
Did you "eke out" a $914 million dollar profit this year?
Aren't you glad you bailed out banks to the tune of trillions so they could make billions in profit and bonuses while charging you interest to loan you your own money and then pocketing it?
Big banks have been gradually recovering, many of them with help from federal bailout money. But distress for small and mid-size institutions is likely to persist in coming years.
Yup, your local banks are getting screwed to the hilt, America.
Aren't you glad you bailed out banks to the tune of trillions so they could make billions in profit and bonuses while charging you interest to loan you your own money and then pocketing it?
Regional banks are especially vulnerable to losses on loans for commercial real estate, which make up a disproportionate share of their business.
Yeah, even though the economy is growing and recovering, blah, blah, blah.
SICK of the GOD-DAMNED LYING, Glob!!!!!!!!!!!!!!!!!!
Losses are growing as buildings sit vacant and builders default on loans.
But THIS ECONOMY is growing and recovering, blah, blah, blah, blah.
Aren't you glad you bailed out banks to the tune of trillions so they could make billions in profit and bonuses while charging you interest to loan you your own money and then pocketing it?
Such defaults could escalate the wave of failures....
Which I'm sure will help recovery.
The FDIC said banks essentially broke even in the October-December period. They earned $914 million, compared with a $37.8 billion loss in the fourth quarter of 2008.
But for the YEAR 2008 they STILL MADE $4.5 BILLION!!!!
And they "earned" it, huh, MSM?
Interesting use of the term for blood-sucking leeches who push figures across a paper balance sheet.
Still....
Pffft!
Most of the improvement in earnings was due to the largest banks.
Still,
Oh, COME ON NOW!!!
for the first time in three years, more than half the 8,000 or so federally insured banks and thrifts reported higher income, compared with the year-earlier quarter.
“Consistent with a recovering economy, we saw signs of improvement in industry performance’’ in the fourth quarter, FDIC chairwoman Sheila Bair said.
Bair said, though, that a recovery in the banking industry usually lags behind an economic rebound as banks deal with soured loans.
WTF is she TALKING ABOUT?!!
We were told EMPLOYMENT -- we are STILL LOSING JOBS here -- was a LAG indicator, not ALREADY PROFITABLE BANKS that are MAKING BILLIONS in PROFITS and doling out BILLIONS in BONUSES!!!!
“It’s not that this was a strong quarter,’’ she said. “It’s simply that everything was so bad a year ago.’’
Pfft!
Yeah, the s*** pile stinks a little less when you clear profits and bonuses thanks to TAXPAYER LOOT!
The FDIC’s reserves of cash and securities set aside to cover losses from failures jumped to $66 billion as of Dec. 31, from $23 billion at the end of September.
Oh, yeah, this article was about failing banks, wasn't it?
Sort of forgot about that given all the good news on profits.
Guess the FDIC can return that money to the small banks that were forced to pay insurance for the larger banks so their profits and bonuses could be boosted, huh?
Maybe that is why small fry is in trouble.
Yeah, that is where I found that sentence -- tucked in the back just as the banksters and MSM are tucking it up your ass, America.
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