The year 2009 continues to create new record in terms of number of failed banks, with seven banks closed down in the last one week alone. That has taken the total failed banks in US in the year 2009 so far to 106. That is over four times the 25 bank closures in the full year 2008.
The number of bank closures in the coming weeks is expected to remain high due to increase in bad debts.
US bank failures touch 106