When bad banks buy worse banks

By Paul R. La Monica, CNNMoney
2009-2-9 12:39:42

NEW YORK (CNNMoney.com) -- Nine banks have failed so far this year. That's not good news, particularly since 25 failed last year.

Fortunately, customers of these banks have had little to worry about. In most cases, the FDIC immediately found a buyer for the failed banks, so depositors simply found a new name on their bank the Monday after the takeover.

What's more, the FDIC now insures up to $250,000 in individual accounts.

	Investment Basic Investment Overview Investment Approache Fundamentals Data Investment Stories www.fxj108.com	When bad banks buy worse banks By Paul R. La Monica, CNNMoney 2009-2-9 12:39:42 NEW YORK (CNNMoney.com) -- Nine banks have failed so far this year. That's not good news, particularly since 25 failed last year. Fortunately, customers of these banks have had little to worry about. In most cases, the FDIC immediately found a buyer for the failed banks, so depositors simply found a new name on their bank the Monday after the takeover. What's more, the FDIC now insures up to $250,000 in individual accounts.