Wednesday, February 23, 2011

TROUBLED BANKS RISE TO 18 YEAR HIGH

WASHINGTON (AP) --" The number of banks at risk of failing made up nearly 12 percent of all federally insured banks in the final three months of 2010, the highest level in 18 years.

The Federal Deposit Insurance Corp said Wednesday that the number of banks on its confidential "problem" list rose to 884 in the October-December quarter, up from 860 in the previous quarter. Those are banks rated by examiners as having very low capital cushions against risk.

Twenty-two banks have failed so far this year. And more banks are at risk, even as the FDIC reported the industry's highest earnings as a group since the financial crisis hit three years ago.
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Follow through selling today shows sellers are getting more itchy. Any lessening in Middle Easttension could soothe markets for the ST

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