Let the Good Times Roll

Oh where… oh where has the FDIC gone? It appears today that FDIC is becoming as useful as the Maytag repairman from yesteryear. For you out there to young to remember, the Maytag man was the guy in the television commercials from the late 60's thru the late 80's who portrayed a repairman with nothing to do… sad and lonely.

For the past eight weeks the FDIC has not had much to do. Four weeks ago they closed 2 small banks with a combined DIF (deposit insurance fund) cost of an estimated 68.8 million dollars.

It has now been over 20 months since we have seen a large bank failure. After 3 years of charting bank failures, the past 8 weeks really stands out. I'm not really sure to make of this phenomenon yet, too soon to tell.