Tally for Dead Banks is Now at 106

As I continue to report, banks are failing at an incredible rate. Hardly a "recovery" to me and the banking problem in this country is going to continue for a very long time. 

The latest victims as reported by CNN:

1. The 101st failure was American United Bank, of Lawrenceville, Ga., which had $111 million in assets.
2.  The 102nd failure was another Naples, Fla., institution: Hillcrest Bank Florida, which had $83 million in assets. 
3. The 103rd closure was Bradenton, Fla.-based Flagship National Bank, with $190 million in assets. 
4. The 104th was Bank of Elmwood, based in Racine, Wis., which had $327.4 million in assets.
5.  The 105th failure was Riverview Community Bank of Otsego, Minn., with $108 million in assets.
6.  The 106th failure was First Dupage Bank in Westmont, Ill., which had $279 million in assets.

The Federal Insurance Fund is at $7.5 billion in assets which is down from $45 billion according to CNN as well. This is very scary as this rate of failure will bankrupt the FDIC.