Banks in trouble says US insurer

The number of troubled US banks has leapt to the highest level in about five years.

Bank profits plunged by 86 percent in the second quarter, as slumps in the housing and credit markets continued.

Federal Deposit Insurance Corp. data has shown that 117 banks and thrifts were considered to be in ...

The FDIC also said that federally-insured banks and savings institutions earned $5 billion in the April-June period, down from $36.8 billion a year earlier.

The roughly 8,500 banks and thrifts also set aside a record $50.2 billion to cover losses from soured mortgages and other loans in the second quarter.

Banks in trouble says US insurer" Bank profits plunged by 86 percent in the second quarter, as slumps

in the housing and credit markets continued.

Federal Deposit Insurance Corp.

thrifts were considered to be in trouble in the second quarter, up

from 90 in the prior quarter and the biggest tally since mid-2003.

The FDIC also said that federally-insured banks and savings

institutions earned $5 billion in the April-June period, down from

$36.8 billion a year earlier.

Funny system or funny counting ?

Billions in bank bonds have been swapped or pawned for treasury bonds and are still counted at their face value?

hundreds of billions are being written off.

yet profits of 5 billion in profits are still claimed.

they are counting the pawned bonds as if they were STILL full real value.

All pawned bonds are counted at marked to fantasy values.

Thereby hiding real losses of many bankrupt banks that will surface whenever the hocked dud bonds are eventualy put back on the open markets .