According to the government run FDIC, there are less than 100 “Problem” banks in the entire U.S. That is awesome news. I guess $700 billion of TARP, the Fed buying up $4 trillion of toxic “assets” and free money from the Fed for 8 years really did the trick. What a great country.
Isn’t it interesting how there were also less than 100 “Problem” banks right up until the 3rd quarter of 2008 when the Wall Street/Fed created financial catastrophe struck. The FDIC thought all was well with America’s banking system in August 2008. They were really on top of things. That should really give you confidence in their current assessment of U.S. banks. That six fold increase in problem assets last quarter is just a hiccup. All is well.
