Rising loan defaults spurred by tumbling home prices and spiking
unemployment have done in another 4 banks.
The failure of Austin, TX based Guaranty bank, which was announced on Friday, along with failure of three small banks in Georgia and Alabama
Friday, brought the 2009 grand tally of U.S. bank failures to 81 compared to 0 structured settlement annuity issuers being taken over by state insurance regulators
With more 4 months to go, the number of bank failures is the highest number in a year since 1992 at the
height of the savings and loan crisis; it is more than 3 times the number all of last year and 25 times that in all of 2007.
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