5
Sep
FDIC Warning . . . Banking Industry Getting Worse
The Federal Deposit Insurance Corp's chairwoman, Sheila Bair said last week hat the outlook for the ailing banking industry was bad – and getting worse. Bair said: ''We haven't seen the trough of the credit cycle yet.''
FDIC's latest quarterly assessment showed the number of bad loans at banks ballooned to its highest level in 15 years during Q2. Industrywide, bank earnings plunged 86% from April-June.