It's only 5:30 pm CDT and the FDIC just shut down 4 more banks bringing the YTD total to 136. Two were shuttered in Florida and another two in Georgia. The FDIC estimates an $84.1 million hit to the Deposit Insurance Fund (DIY). This was the 16th bank to get a personal closing visit from the FDIC in 2010 and Florida has been visited by the FDIC 27 times.
Don't worry America as two days ago, Sheila Bair and the crack number crunchers at the FDIC lowered their estimate for bank failures to $52 billion from $60 billion (that was their June 2010 guess). Read all about the $8 billion reduction
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