Three More Bank Failures, Bringing The Total To Twenty-Two

Posted by Bull Bear Trader | 11/24/2008 07:47:00 AM | , | 0 comments »

While the Citigroup news is certainly generating much of the financial news this morning (and for good reason), three more banks have also recently failed, bring the total to twenty-two (see WSJ article). Two of the recent bank failures were California thrifts, while the third was located in Georgia. Of the three recent failures, Downey Savings & Loan of Newport Beach was the largest, and the third largest bank failure this year, coming in at $12.87 billion - still less than the $307 billion failure of Washington Mutual.