Regulators on Friday closed Haven Trust Bank in Georgia and Sanderson State Bank in Texas, bringing to 25 the number of U.S. bank failures this year.
The 25 U.S. bank failures so far this year compare with three for all of 2007 and are far more than in the previous five years combined. It's expected that many more banks won't survive the next year of economic turmoil. The pressures of tumbling home prices, rising foreclosures and tighter credit have been battering financial firms nationwide.
TVNL Comment: The privately owned Federal Reserve is taking back all their money. They are going to proceed with their plan of owning everything in this nation.