Rickey McCullough, who works with the FDIC, talks with reporters gathered outside Broadway Bank as his colleagues work inside to seize control of the bank on April 23.(Getty Images)
Rickey McCullough, who works with the FDIC, talks with reporters gathered outside Broadway Bank as his colleagues work inside to seize control of the bank on April 23.
(Getty Images)

America’s Quiet Banking Collapse

July 27, 2010  •  From theTrumpet.com
Seven more banks fade into history.
 

The Federal Deposit Insurance Corporation (fdic) announced that it had seized the assets of seven additional banks, on Friday. During 2010 so far, 103 banks have gone bankrupt, putting the nation on pace for the most bank failures since the Savings and Loan crisis during the 1990s.

America’s quiet banking collapse may be one of the most underreported stories of the year.

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