NEW YORK: As many as 22 American banks have collapsed this year so far, even as the banking giant Citigroup, led by Indian-American, Vikram Pandit, struggled this week to save itself from becoming number 23 in this fast growing long list.
On Friday, three US banks collapsed with two of them being in California and the third one in Georgia.
The two California banks which were shut down Friday are Downey Savings and Loan of Newport Beach and PFF Bank and Trust of Pomona. The 12.78 billion Downey, The Wall Street Journal, said is the third largest bank to fall this year. Topping the list is $307 billion Washington Mutual.
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