FROM SCRATCH NEWSWIRE

SCAVENGING THE INTERNET

LIST OF TROUBLED BANKS GROWS BY 50 PERCENT (USA)

Posted by Gilmour Poincaree on November 27, 2008

Published: Nov 26, 2008 12:30 AM – Modified: Nov 26, 2008 02:05 AM

The Associated Press

NEW YORK – The Federal Deposit Insurance Corp. said Tuesday that the list of banks it considers FDIC Chairwoman Sheila Bair cites 'profound problems.'to be in trouble shot up nearly 50 percent to 171 during the third quarter.

The 171 banks on the FDIC’s “problem list” encompass only about 2 percent of the nearly 8,500 FDIC-insured institutions. “We’ve had profound problems in our financial markets that are taking a rising toll on the real economy,” said FDIC Chairwoman Sheila Bair.

The FDIC said total assets held by troubled institutions climbed from $78.3 billion to $115.6 billion — a figure that suggests that the nation’s top 20 banks aren’t on the list. The FDIC does not reveal the names of the institutions it deems troubled.

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PUBLISHED BY ‘THE NEWS & OBSERVER’ (USA)

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