Four more banks had to bite to dust, as regulators shut them down in a recent move. These banks in Florida, Illinois, Utah and Maryland were reeling under the pressure of toxic assets that they had accumulated over the past couple of years.

The number of banks shut down this year has now gone up to 26 and it does not seem like this may be the final number for the quarter yet. With these closures, Federal Deposit Insurance Corporation (FDIC) has come under more pressure to keep a stronger hold over the situation and dispose off the piling toxic assets. [Read more…]