It's already worse than last year ... plus, heroin and bears!
Two quick hits this morning:
1. Seven more banks failed last week, bringing the total for the year to 52. From Bloomberg:
Regulators this year have closed the most banks since the savings-and-loan crisis of the 1990s as lenders struggle with mounting losses on mortgages and commercial loans. The total for 2009 is more than double the 25 banks shuttered in 2008 and surpasses the 50 that were closed in 1993. The prior year there were 181 failures or government-assisted transactions.
2. From the "news of the weird" files: Bronx Build-A-Bear toys stuffed with millions in heroin
From the NY Daily News:
Authorities announced Saturday a massive heroin bust in the Bronx, where dealers were moving millions of dollars in dope inside Build-A-Bear dolls.
-- Brian Richards (no stake in BBW)