More U.S. Banks Seized as Real Estate Foreclosures Continue Their

by juliaredstone | December 15, 2009 at 06:22 am

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The list of seized banks continues to grow, and it's still to increase more. That doesn't seem to be a sign of recovery. The crisis still rages upon us.

The Federal Deposit Insurance Corp. (FDIC) seized three more U.S. banks last week, bringing the total to 133. A weak real estate market has been blamed. Hundreds of more banks are on the problem list for next year, so more failures could be on the way. The 133 bank failures in 2009 are the largest number of seized banks since the 181 the fell in 1992 from the consequences of the savings-and-loan debacle.