Busted: Bankers and The Global Economy

February 20, 2010

20 US banks collapse in 2010 so far

Filed under: banking, economy — Tags: , , , , , , — digitaleconomy @ 11:07 am

In less than two months, 20 American banks have been closed by the FDIC. A staggering 174 U.S. banks have hit the skids since the collapse of Wall Street giant Lehman Brothers in September 2008, which has sparked one of the worst financial crises in modern times.

What is to blame? A high unemployment rate has resulted through increased defaults at small and medium size community banks.

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