FDIC Seizes Five Banks; US bank failure tally hits 9 for 2010

And the FDIC is broke.Regulators seized five banks in Florida, Missouri, New Mexico, Oregon and Washington, lifting the total number of failures this year to nine as financial institutions struggle with loan defaults and a weak economy.Two of the five institutions had assets of more than $1 billion. The Florida bank, in Miami, was sold [...] continue reading world news