No recent bank failures

It has now been over two weeks since the last bank failure. FDIC reports bank failures Friday evenings, but has not reported any on each of the past two Fridays.

And this morning the news is that FDIC is poised to sell IndyMac Bankcorp, which failed this summer, to a consortium of investors. Despite IndyMac's subprime history, they are now viewed as a "solid" bank. FDIC did a lot of work to refinance "troubled" mortgages.

Maybe the doom and gloom is not as bad as the doom and gloom crowd are claiming.

-- Jack Krupansky