Problem banks at 16 year high
The banking trouble for the US economy is only getting complicated with every passing month. In the last one year alone, the US FDIC has closed down over 125 banks which were not meeting the capital adequacy requirements, but even after that the number of problem banks is not coming down.\
On the contrary, the number of problem banks has gone up to 552 banks with over 345 billion dollars of assets at stake, as of September 2009. The US FDIC has also seen the entire reserve money vanish due to the costly closure of over 120 banks in the last 11 months. The rising unemployment is only expected to add more bad debts to the banking system for few more quarters, as per experts.