Restating the Obvious

Told you so

"At the beginning of the year, 90 banks were on the FDIC watch list. There are now 117, FDIC chairwoman Sheila C. Bair announced at a news conference this afternoon. That is the highest number in five years, but some analysts expect the list to grow even more in coming months."

According to The Maui News yesterday, the number was 90 24 hours ago. Does this mean Bair's staff has added a bank an hour to the watch list? Or what?

The last time Bair made this blog (see "Withdrawal pangs," July 22), she was singing a happy tune about potential bank failures: “ 'That number will go up and the number of assets will go up, but it will still be a fairly low range when you look at this historically.' "

Oh, well, that's all right then.

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