Economy: Numbers Rise

http://www.marketwatch.com/story/fdic-number-of-troubled-banks-rises-to-552-2009-11-24-10300
FDIC: Number of troubled banks rises to 552
Number of problem banks on the FDIC's list is highest since 1993

The number of banks on the troubled list climbed from 305 in March to 416 in June to 552 in September 2009. The number of FDIC insured institutions with a net loss soared to 26% in the third quarter of 2009. The number of problem loans held by these institutions skyrocketed 10.5% in the third quarter of 2009. 50 more banks failed in the third quarter of 2009 bringing the year to date total up to 124.

Yup. The numbers are all rising.

However.

I always thought that businesses can't operate without banks. I always thought that rising loan defaults meant the inability to pay. I always thought that the inability to pay meant that people don't have jobs.

So, it is a good thing that the Liar-In-Chief, Barack Hussein Obama and his evil henchmen and minions, including Federal Reserve Chairman Ben Bernanke, U.S. Treasury Secretary Timothy Geithner, along with his crush American Economy Czar are here to explain to us that they have saved the economy and we are doing much better.

Evidently joblessness and homeless are the Hope and Change we voted for.