FDIC says troubled bank list growing.

[moneysense]

According to the FDIC, the list of troubled banks has grown to 700 as of last quarter.

Loan losses and bank failures are likely to continue to haunt the industry as regional banks succumb to soured commercial real estate loans

Also the fact that unemployment is so high nationwide, people just dont have the money to get loans for anything these days, nor do they have money to put into savings and checking accounts.

Banks face up to $300 billion in losses on loans made for commercial property and development, according to a report by the Congressional Oversight Panel, which monitors the government's efforts to stabilize the financial system.

And now with the loans being worth more that the property is these days, its a lose lose situation.

Then add to the problem the fact that banks are making getting a loan even harder, it is not likely that some of the smaller banks will survive.

[ClassyLady]

I wonder what will come out of this, like everything else not much I bet!!

Committee to Hold Hearing on Compensation in the Financial Industry

Washington, DC — Today, Financial Services Committee Chairman Barney Frank (D-MA) announced the committee will hold a hearing entitled “Compensation in the Financial Industry – Government Perspectives” on Thursday, February 25. This is the committee’s second hearing on the issue of compensation this year and will focus on the pay practices of both private and public financial entities including AIG, Fannie Mae and Freddie Mac where the federal government plays a role in reviewing and/or approving compensation.

Frank also noted that the House passed two bills last year that would increase oversight of compensation in the financial industry. In April 2009, the House passed H.R. 1664, amid Republican opposition, which would have regulated compensation at Fannie Mae, Freddie Mac, and TARP recipients. Unfortunately, Republican opposition stalled the bill in the Senate. In July, the House passed broader legislation to regulate executive compensation, which was also included in H.R. 4173, The Wall Street Reform and Consumer Protection Act.



WHO: House Financial Services Committee
WHAT: Hearing: Compensation in the Financial Industry – Government Perspectives WHEN: Thursday, February 25
2:00 p.m.
WHERE: Rayburn House Office Building, Room 2128



Witness List:

·Mr. Kenneth Feinberg, Special Master for TARP Executive Compensation, U.S. Department of the Treasury
·Mr. Scott Alvarez, General Counsel, Board of Governors of the Federal Reserve System
·Mr. Edward DeMarco, Acting Director, Federal Housing Finance Agency