Global Economic Crisis

The number of bank failures in the United States continues to climb. Over the weekend, the FDIC closed the 95th failed bank this year. The Federal Deposit Insurance Corporation is on track to shut down more than 100 before the year is done, versus a couple of dozen in all of 2008.

While U,S, taxpayers mortgaged their futures to prop up the “too big to fail” banks, those financial instituitons that don’t meet that threshhold are falling like autumn leaves. And Bernanke claims the recession is over. What planet is he living on?