US Banks On Record Pace For Failure
Dallas/Plano, TX May 9, 2009 Banks in the Unted States are on a record pace! The FDIC publishes a list of the bank failures on their website. It is a pretty scary list if a person looks closely.
Cliff Robertson, Founder of the US Investor Center and Banking Veteran, commented that “Bank failures are an epidemic. The FDIC is on pace to have more bank failures in the United States this year alone than it had in the last 10 years.” The FDIC is getting very creative and has created a website called www.debtx.com to sell off the debt that these failed banks have on their books to help recoup and replenish the coffers at the FDIC.
The FDIC boasts that they have never not protected a depositers money up to and beyond their insurance limits. Formerly, those limits were $100,000 per depositer, now that limit has been raised to $250,000 to help quiet the concerns of the American public. That temporary increase is supposed to expire in October of this year.
One of the opportunities that the bank failures have created is a new market for buying a bank. In the past it took lots of money and years to open a bank. Now an investor can buy a bank for less than its book value, a price never seen before in America. Cliff Robertson continues, “At the US Investor Center we are looking at several different banks as potential investment opportunities - the deals are tremendous.” So every cloud really does have a silver lining and there truly are ways to make money in every market.
- Contact Information
- Aaron Clay
- Director of Public Relations
- US Investor Center
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