And in other unreported news, Bank failures (five more this friday) hit record pace:

[Political Heretic]

Five banks failed on Friday, pushing the total number of failures for the year to 69. Together the five failures cost the FDIC about $911.7 million.

Regulators haven’t closed banks at anywhere near this blistering pace since the tail end of the savings and loan crisis in 1992, when 120 institutions failed. Bank failures have eaten an estimated $14.4 billion out of the FDIC’s deposit fund in 2009, according to Bloomberg <1>.

http://www.propublica.org/ion/bailout/item/five-fingered-failure-friday-801#11797

These are always quietly announced on Friday, and every Friday more banks continue to fail. Meanwhile, how about some updates on the latest bailouts, also no reported anywhere in the corporate mainstream media:

$573 billion of taxpayer money has been allocated or promised to 665 companies and 12 programs.

Jul 24, 2009 American Home Mortgage Servicing, Inc
Incentive Payments for Home Loan Modification $1.3 billion

Jul 24, 2009 Mortgage Center, LLC
Incentive Payments for Home Loan Modification $4.2 million

Jul 24, 2009 Mission Federal Credit Union
Incentive Payments for Home Loan Modification $860 thousand

Jul 24, 2009 Community Bancshares, Inc.
Purchase - Preferred Stock w/ Exercised Warrants $3.9 million

Jul 24, 2009 Florida Bank Group, Inc.
Purchase - Preferred Stock w/ Exercised Warrants $20.5 million

Jul 24, 2009 First American Bank Corporation
Purchase - Subordinated Debentures w/ Exercised Warrants $50 million

Jul 24, 2009 Yadkin Valley Financial Corp
Purchase - Preferred Stock w/ Warrants $13.3 million

Jul 17, 2009 Brotherhood Bancshares, Inc.
Preferred Stock w/ Exercised Warrants $11 million

http://bailout.propublica.org/

[Political Heretic]

1. kick.

[leftstreet]

2. But, but, the economy is turning around!

K&R

[Political Heretic]

3. kick.