Favorable Report on Banks
With all the economic turmoil on Wall Street recently it was nice to hear some good news from the Federal Deposit Insurance Corporation this week. The F.D.I.C. reported that banks are doing better and there has been a recent growth in loans.
Bank failures dropped in the second quarter, bank profits rose, and fewer banks are troubled. Many were also relieved to hear the F.D.I.C. say that for the first time in three years loan portfolios have grown.
The unsteady state of the stock market has made so many of us skeptical that there will be recovery in the near future. Any good news, like the F.D.I.C.’s promising report on banks, is eagerly received. Hopefully the improvements seen in banking will also be seen in our stock market, the US economy, and the world economy.