Bank earnings hit highest level in 4 years, FDIC says

Source: AP

Tuesday, November 22, 2011, 11:45 AM

WASHINGTON -- Bank earnings rose over the summer to their highest level in more than four years, while the number of troubled banks fell for the second straight quarter, federal regulators reported Tuesday.

The Federal Deposit Insurance Corp. said the banking industry earned $35.3 billion in the third quarter. That's up from $23.8 billion in the same period last year. More than 60 percent of banks reported improved earnings.

The FDIC also said there were 844 banks on its confidential "problem" list in the quarter, or roughly 11.5 percent of all federally insured banks. That was down from 865 the April-June period, which was first quarter in five years to show a decline.

Banks with assets exceeding $10 billion drove the bulk of the earnings growth. They made up 1.4 percent of all banks but accounted for about $29.8 billion of the industry's earnings in the third quarter.

Read more: http://www.cleveland.com/business/index.ssf/2011/11/bank_earnings_hit_highest_leve.html

Remember they still need a higher percentage of profits each quarter even if the rest of the economy has gone to pot around them.

they fail, they get bailed out, make more money then thumb their noses at the government toadies that they control and laugh at us all the way to the...bank.

So what exactly has changed?

folks, the house is burning. You have two choices, get the hell out or burn within.

Great! All those tax dollars flowing in when the banks pay their fair share of taxes will... be...

Oh, never mind...

:sarcasm:

See this thread here. based on a story from the Guardian UK:

http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=439x2358172

I know that was in the UK, but another one is closer to home:

Fed to Test U.S. Banks Over Europe Crisis

http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=102x5068308

More fear mongering, or just being cautious? I don't think that another bailout is in the works, though.