WICHITA — One less than stellar jobs report and many experts are now fretting whether this means the recovery is about to stall. The stock market has been down for three days and people are fretting that its the end of the bull market. I think they were just looking for an excuse to go pessimistic. It’s a sign of how fragile people’s confidence in this recovery is. My guess is that the warm weather in January and February pulled some hiring forward, surprising on the upside, but hurting March and maybe, April. I’m guessing that it will be back in April or May.
Daily Archives: April 9, 2012
The nation made it through the weekend without a bank failure. Of course, the Easter weekend may have had something to do with that, given financial markets were closed for Good Friday.
But it wasn’t the first weekend in 2012 where the Federal Deposit Insurance Corp. had to take a bank into receivership or complete the sale of a failed bank’s assets to another institution, either.
An examination of the FDIC’s Failed Bank List might explain why. According to that list, there have been 16 bank failures through April 8 this year. In that same period in 2011, bank failures totaled 28. And in 2010 it was 42.
While there’s still a lot of year left, the pace suggests that the trend of rising bank failures that began nearly four years ago may just be coming to an end.