10/07/09 Stockholm, Sweden – You may want to pull your money out immediately if your bank is on this updated unofficial list of troubled banks.
There are simply too many banking options out there to keep your hard-earned money in a bank that’s already having problems. Several recently failed banks were highlighted before going under, and the depositors could have likely avoided the hassles associated with a bank failure had they taken action sooner.
The list includes 463 banks that in aggregate hold a little under $300 billion in assets. According to the article, the list is made possible by information pulled from regulator press releases and public news sources.
More detail and information is available from Calculated Risk, as well as the entire problem bank list.
Rocky Vega
Rocky Vega is publisher of The Daily Reckoning. Previously, he was founding publisher of UrbanTurf and RFID Update, which he operated from Brazil, Chile, and Puerto Rico, and associate publisher of FierceFinance. He specialized in direct marketing at MBI, facilitated MIT Sloan School of Management programs, and has been featured on CBS. Vega graduated with honors from Harvard University, where he was on the board of Let’s Go Publications and directed business programs involving McKinsey, Goldman Sachs, and Harvard Business School faculty. He is also enrolled at the Stockholm School of Economics.
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