1 Of the Top 10 Democratic Lies
by JustCountry
 1 Of The Top 10 Democratic Lies
Feb 04, 2011 | 1027 views | 2 2 comments | 12 12 recommendations | email to a friend | print | permalink

Vice President Joe Biden might think the Summer of ‘10 was “Recovery Summer”, but over 300 million Americans know it wasn’t….Not even close, in fact.  And even worse, the prospects for the Summer of 2011 becoming a recovery Summer are growing slimmer by the day.  We haven’t hit bottom yet, despite what the Democrats in Washington would have us believe.

Ample proof is demonstrated by a report in the Wall Street Journal,indicating as many as 100 MORE banks are on the verge of failure.

“Nearly 100 U.S. banks that got bailout funds from the federal government show signs they are in jeopardy of failing.

The total, based on an analysis of third-quarter financial results byThe Wall Street Journal, is up from 86 in the second quarter, reflecting eroding capital levels, a pileup of bad loans and warnings from regulators.  The 98 banks in shaky condition got more than $4.2 billion in infusions from the Treasury Department under the Troubled Asset Relief Program.  

The troubled banks identified by the Journal all have either a Tier 1 capital ratio under the “well-capitalized” 6% level; both a total risk-based capital ratio of under the “well-capitalized” 10% threshold and nonperforming loans of over 10% of their portfolio; or a regulatory order requiring the bank to monitor or boost its capital. Dell Hill.

A Federal Deposit Insurance Corp. spokesman declined to comment on the Journal’s analysis, which also calculated that 814 of the nation’s 7,760 banks and savings institutions are troubled according to these standards, up from 729 at the end of the second quarter.  The FDIC’s official list of problem banks, which uses different criteria from the Journal’s analysis, includes 860 financial institutions.

The banks aren’t publicly identified.”

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