Word: quarterly
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Despite those numbers, the banking system is no longer at risk of collapse. Megabank JPMorgan Chase, for instance, announced on Oct. 14 it earned $3.6 billion in the third quarter. Most of the institutions in danger are small. But those failures are straining the FDIC, which underwrites the nation's saving and lending by insuring deposits. When a bank fails, the FDIC makes up the difference between what's left and what's owed depositors, up to $250,000 per person per bank. Two years ago, the FDIC had about $52 billion in its deposit-insurance fund. Today that fund...
...continued their seven-month rally, lifting the Dow Jones industrial average above 10,000 points for the first time since last October. The symbolic milestone followed better-than-expected September retail sales and once troubled banking giant JPMorgan Chase's report that it earned $3.6 billion in the third quarter. Optimists considered the news an omen of improved economic conditions despite stubbornly high unemployment...
...results were more of the same. Midway through the second quarter, another bounced snap caused Cloud to rush his punt, which traveled only 25 yards...
Although Otavio Fluery replaced Cloud in the second half, he shanked a 10-yard punt at the end of the third quarter to cap off a miserable day for the Tigers’ special teams...
...Brothers in New York, Beijing was planning how to get there, eventually unleashing a massive $586 billion stimulus package in the spring and freeing up lending to allow billions more to slosh into the economy. With this week's announcement that GDP had expanded by 8.9% in the third quarter, China is well on its way to reaching its target for the year. That will make China the first major economy to emerge from the slowdown. But it is far too soon for the country's economic mandarins to hang a "Mission Accomplished" banner...