The High Costs of the Cloud
Data centers make “the cloud” tangible. The supposed benefits—such as jobs—might not be.
Seven banks were taken over by the FDIC on Thursday, six of them based in Illinois. A total of 52 banks have failed so far in 2009, an average of 2 each week.
Today's bank failures cost the FDIC over $300 million.
According to a report in February, up to 1,000 banks may fail in the next 3-5 years.
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