Thursday, February 26, 2009
Breakin' the banks
By David Ellis
Last Updated: February 26, 2009: 2:50 PM ET
NEW YORK (CNNMoney.com) -- The government's closely watched listed of troubled banks grew during the fourth quarter to its highest level since 1994, regulators said Thursday.
The Federal Deposit Insurance Corp. reported that the number of firms on its so-called "problem bank" list grew to 252 during the last three months of 2008, compared with 171 banks making the list in the prior quarter.
"There is no question that this is one of the most difficult periods we have encountered during the FDIC's 75 years of operation," agency Chairman Sheila Bair said Thursday.