After contending with nearly 240 bank failures since the financial crisis struck, the Federal Deposit Insurance Corporation (FDIC) is finally getting some help from private investors.Still there were four banks taken over by the FDIC this past Friday, and another four the Friday before that. In total 72 thus far this year. How many more will there be tomorrow. We will only know when we get the press releases tomorrow, after they happen. Perhaps, we will get lucky and see no bank failures for the first time in some time.
A spate of recent banking takeovers and investments suggests that stronger financial institutions and private investment firms see value in the detritus of American banking. That is good news for the F.D.I.C., which has had to shoulder the cost of failures through its deposit insurance fund, causing the fund to sink into the red.
“We are seeing light at the end of the tunnel,” Sheila C. Bair, the head of the F.D.I.C., said in a recent interview.
- New York Times
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