Friday is bank closing day in America. It's the day that the FDIC moves in and shuts failing banks, folds their insured deposits into more solvent institutions, boots the failed bankers and tells the bank investors and bondholders, essentially, good luck.

For example, last Friday Great Basin Bank of Elko, Nev. and American Sterling Bank of Sugar Creek, Mo., were seized. The Nevada bank cost the strained FDIC fund $42 million. It was the 25th FDIC-insured institution to fail this year. It won't be the last.

Courtesy of  The Seattle Times