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Failures of Small Banks Grow, Straining F.D.I.C.

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"A year after Washington rescued the banks considered too big to fail, the ones deemed too small to save are approaching a grim milestone: the 100th bank failure of 2009," the New York Times reports. "Already, the bank failures are placing enormous strain on the F.D.I.C. and its fund, which keeps depositors whole. Flush with more than $50 billion only two years ago, the fund recently fell into the red."
SOURCE:   New York Times