The "recovery" is Just Around the Corner (wink wink)

quote:

WASHINGTON (AP) - Regulators on Friday shut down eight banks - three in Florida, two in California, and one each in Massachusetts, Michigan and Washington - putting the number of U.S. bank failures this year at 50.

The Federal Deposit Insurance Corp. took over the three Florida banks: Riverside National Bank in Fort Pierce, with $3.4 billion in assets; First Federal Bank of North Florida in Palatka, with $393.3 million in assets; and AmericanFirst Bank in Clermont, with assets of $90.5 million.

"This year" means in three months. If you do the math for twelve months it becomes a little more real. You can read the complete article here.

Some bonus reading:

Unemployment rises in 24 states