Don’t you love big, round numbers?Â Sure, everyone does.
Today the FDIC has reached three big round numbers, by my count:
- The 300th bank has been closed since the bust began.
- Today’s cost is $500 Million, which sounds like a lot but is low compared to last year or even earlier this year.
- The total cost is just a sliver short ofÂ $75 Billion.
Overall, though, the pace and cost of FDIC closures has slowed dramatically.Â In big, round terms, that’s a very good sign.