http://finance.yahoo.com/news/Floridas-BankUnited-fails-apf-15325280.html?sec=topStories&pos=3&asset=&ccode=
The little things that MSM doesn't tell you. Now you can understand why the FDIC needed the 500 billion dollar loan.
The 34 bank failures this year in the U.S. compare with 25 in 2008 and just three in 2007. As the economy nationwide has soured, amid rising unemployment, tumbling home prices and soaring loan defaults, bank failures have cascaded and sapped billions out of the deposit insurance fund. According to the most recent data available, the fund now stands at its lowest level in nearly a quarter-century -- $18.9 billion as of Dec. 31, compared with $52.4 billion at the end of 2007.
The FDIC expects that bank failures will cost the insurance fund around $65 billion through 2013.
