Word: failed
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...insurance this year. On the back of an envelope that number would seem to indicate that the banking industry will not have such a bad year. The FDIC may not even have to go to the Treasury for the extra capital that might be needed as problem banks fail. No matter what the agency says about its list, the actual figure for problem banks is much too low. The FDIC can claim that it historically accurate measurements, but most financial history is useless at this point. Even well-known economists grasp for examples of periods that are comparable to current...
...Last year, the omnipresent economist, Nouriel Roubini, told Barron's that 1,400 banks would fail during the current economic crisis. Investment bank RBC Capital puts the figure at 1,000. Since there is no way to know how large the deposits at any of these institutions are, the amount of exposure the FDIC faces is impossible to forecast. But, it will be more than the $22 billion prediction. If 500 banks fail, which are fewer than those that failed in the S&L crisis, the figure is probably ten times that...
...minimize the barriers for the private sector to buy healthy bank assets in the future. Also, we must limit this approach to the banking sector. Not all companies should receive this special treatment—in the automotive sector, for instance, we must strongly consider allowing firms to fail if they cannot compete in the open market...
...least, that's one way of looking at it. You could also say bank nationalization began in 1984 when regulators decided that Continental Illinois, then the nation's seventh largest bank, was too big to fail and put the Federal Deposit Insurance Corporation (FDIC) in charge of it. Or maybe the crucial moment came in 1933 when Congress decreed that small depositors should be protected from bank failures by the FDIC. Or in 1913 when Congress created the Federal Reserve System to halt banking panics and regulate the money supply. (See pictures of the stock market crash...
...promises. "We are happy that there is a chance for peace now," said Mohammed Tariq, 36, a thickly bearded cafeteria worker who blamed the Taliban for spreading fear and the army for alienating the population by inflicting a heavy toll in civilian casualties. "We hope that it doesn't fail." Like many locals, he was antagonized by the Taliban's violent methods but supports the call for Shari'a law. "The real issue was the courts," he says. "It took too long to get justice. People are fed up with this system. It's also corrupt." (See pictures of Pakistan...