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By Bob Blandeburgo Associate Editor Money Morning As the number of bank failures grows, the Federal Deposit Insurance Corp. (FDIC) is falling deeper into the red, but deposits at insured banks keep growing. Six banks failed on Friday, bringing the total number of banks failed this year to 106. That’s more than four times the amount of bank failures in 2008, and it’s only October. Still, the number is dwarfed by the 534 failures seen in 1989 at the height of the savings-and-loan crisis.

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Breaking: SAN FRANCISCO (MarketWatch) — President Barack Obama declared the H1N1 flu outbreak a national emergency, giving officials the ability to bypass some federal requirements for battling emergencies, the White House said Saturday. … More than 1,000 people have died in the U.S. from swine flu, including almost 100 children, and the flu is widespread in 46 states. 1) Bank failures hit 106 for year; many more are weak (AP) 106 banks so far for 2009 and we still have November and

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WASHINGTON – The cascade of bank failures this year surpassed 100 on Friday, the most in nearly two decades. And the trouble in the banking system from bad loans and the recession goes even deeper than the number suggests.Dozens, perhaps hundreds, of other banks remain open even though they are as weak as many that have been shuttered. Regulators are seizing banks slowly and selectively — partly to avoid inciting panic and partly because buyers for bad banks are hard to find.Going slow buys time

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The dark cloud of commercial real estate loan defaults is inching closer, threatening to shutter more banks, even as the U.S. Federal Reserve declares the recession to be over . Commercial property values in the U.S. have plummeted 36% since peaking in 2007, and the commercial real estate market is unlikely to recover before 2012, according to the quarterly PricewaterhouseCoopers Korpacz Real Estate Investor Survey, released yesterday (Tuesday). Office rents in New York and San Francis

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John Burns, real estate consultant in Irvine, writes in a recent newsletter that there is money to be made by investing in properties being sold, sometimes very cheaply, by the Federal Deposit Insurance Corp. I would add that mortgage folks out of work or others with knowledge of banking may consider applying to a job with the FDIC, which is expanding in Irvine. See job postings HERE. Back to Burns. Here are two of his graphs that show while a small percentage of banks have been labeled as “tr

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