PTI New York, November 8, 2009
With five more American banks going out of business last week, the total number of collapses this year has risen to 120 or an average of over ten entities every month.
The total bank failures this year is the highest since 1992, when a whopping 181 entities folded up due to savings and loan crisis.
Moreover, the collapses are about five-fold higher than 2008, when just 25 banks went belly up.
Tags: Bank Failures
