Business as usual for the bankers.......

Why Franklin Raines isn't in jail is beyond me. They bounce Madoff in the slammer after a year or so and this guy is living high on the hog. Barney Frank, Chris Dodd, Angelo, Congress far beyond anyone going to jail. It's like an elephant sat on their head and they were none the wiser. Obama's PET bank in Chicago took itself down yesterday and the big bankers make out like bandits. The manipulation by government policy is truly staggering. The sheeple are bent over and they don't even know it.

With 113 closures nationwide so far this year, the pace of bank failures far outstrips that of 2009, which was already a brisk year for shutdowns. By this time last year, regulators had closed 81 banks.

The pace has accelerated as banks' losses mount on loans made for commercial property and development. Many companies have shut down in the recession, vacating shopping malls and office buildings financed by the loans. That has brought delinquent loan payments and defaults by commercial developers.

The number of bank failures is expected to peak this year and be slightly higher than the 140 that fell in 2009. That was the highest annual tally since 1992, at the height of the savings and loan crisis. The 2009 failures cost the insurance fund more than $30 billion. Twenty-five banks failed in 2008, the year the financial crisis struck with force; only three succumbed in 2007.

The growing bank failures have sapped billions of dollars out of the deposit insurance fund. It fell into the red last year, and its deficit stood at $20.7 billion as of March 31.

The number of banks on the FDIC's confidential "problem" list jumped to 775 in the first quarter from 702 three months earlier, even as the industry as a whole had its best quarter in two years.

The FDIC expects the cost of resolving failed banks to total around $60 billion from 2010 through 2014.