Posts Tagged ‘Lehman Brothers’

The FDIC’s failed bank list shows all FDIC-insured banks that have failed since October 1, 2000.

As of Sunday, July 18, 2010, there are a total of 297 reported failed banks.

255 of those 297 failures have been since the September 15, 2008 Lehman Brothers bankruptcy.

However, the FDIC’s failed bank list only paints part of the picture.

As of March 5, 2009, the FDIC reported a total of 8284 insured institutions.

As of July 15, 2010, the FDIC reported a total of 7836 insured institutions.

Therefore, a total of 448 institutions have failed, closed, or been acquired since March 5, 2009 — representing 5.4% of the insured banks on March 5, 2009.

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Here are some of the big economic milestones of 2008:

– Gold broke through the $1000 USD an ounce barrier for the first time ever on March 13, 2008. http://news.bbc.co.uk/2/hi/business/7294040.stm
– Oil reached an all-time high of $147 USD a barrel on July 11, 2008. http://www.usatoday.com/money/industries/energy/2008-07-11-oil-friday_N.htm
– One of the big five U.S. investment banks, Lehman Brothers, survived the Great Depression, but filed for Chapter 11 bankruptcy protection on September 15, 2008. http://www.nytimes.com/2008/09/15/business/15lehman.html?hp
– The U.S. budget deficit reached an all-time high of $455 billion for fiscal year 2008 as reported by the Congressional Budget Office. http://www.cbo.gov/ftpdocs/99xx/doc9912/11-2008-MBR.pdf
– Toyota surpassed General Motors to become the world’s largest automaker in vehicles sold after GM held that position for 77 years. http://www.washingtonpost.com/wp-dyn/content/article/2009/01/21/AR2009012101216.html
– Toyota reported its first publicly declared operating loss ever in 71 years of business. http://www.bloomberg.com/apps/news?pid=20601087&refer=home&sid=a13h4Myn37QA

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