Washington Mutual Inc., the biggest U.S. savings and loan, and National City Corp., Ohio's largest bank, led the steepest-ever decline in the two-decade history of an index of bank stocks after IndyMac Bancorp Inc.'s collapse spurred concern more lenders are vulnerable to bad home loans. Full Story »
Posted by Kaizar Campwala
This is a list of failed and failing banks, with plenty of numbers and links to the banks and a couple of finance specialists. So what? It needs a framework to give these events meaning. Although the tone is dire with reports of "25% decline in second quarter profit", "securities losses of $35 billion", and Treasury's Paulson "asked congress for authority to buy unlimited stakes and lend to the companies to halt a collapse of confidence", I don't know if I should withdraw my savings, buy gold and hoard food, or not to worry since it's only a few banks and FDIC and the Fed are handling it well.
