Wilson PonMore US Banks Are Getting Trouble With Financial Woes!
July 7th 2009 04:26
The United States’s government watchdog pointed out that the total number of problem US banks had jumped 40% to a 15-year high!
The Federal Deposit Insurance Corporation (FDIC) mentioned that there are 305 banks had financial problem in January to March 2009. The main cause of this problem is due to the banks continued to struggle with uncollectible bad mortgage and credit card debts!
The total profit for the first quarter of 2009 in banking field is only recorded $7.6 billion. This amount is 61% lesser than $19.3 billion profit that had been recorded for January to March in 2008!
PS: By the way, did you know that the FDIC has been given the authority by US law, where it has the power to take over those banks that have financial crisis? Its main purpose is to ensure the banks didn’t declare bankruptcy and being taken over by any other foreign investors!
The Federal Deposit Insurance Corporation (FDIC) mentioned that there are 305 banks had financial problem in January to March 2009. The main cause of this problem is due to the banks continued to struggle with uncollectible bad mortgage and credit card debts!
The total profit for the first quarter of 2009 in banking field is only recorded $7.6 billion. This amount is 61% lesser than $19.3 billion profit that had been recorded for January to March in 2008!
PS: By the way, did you know that the FDIC has been given the authority by US law, where it has the power to take over those banks that have financial crisis? Its main purpose is to ensure the banks didn’t declare bankruptcy and being taken over by any other foreign investors!
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