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Big Round Ones

October 15th, 2010 by Rick Drain

Don’t you love big, round numbers?  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 of  $75 Billion.

Overall, though, the pace and cost of FDIC closures has slowed dramatically.  In big, round terms, that’s a very good sign.


This entry was posted on Friday, October 15th, 2010 at 4:08 pm and is filed under Macroeconomics. You can follow any responses to this entry through the RSS 2.0 feed. You can Add your comment, or trackback from your own site.