It was a rough year for banks, according to the Federal Deposit Insurance Corp or FDIC. More banks failed during 2010 in the US than any year since 1992. That’s quite startling when you consider that 1992 was the height of the savings-and-loan crisis.Statistics show that there were 157 bank failures in 2010, compared to 140 in 2009. Just four years ago there were no bank failures. Officials hope this is the worst year for bank failures. “Going forward, the FDIC looks to see fewer failures,” agency spokesman Greg Hernandez told the Washington Post.

And even though the number of bank failures was high in 2010, the FDIC believes there are many more weak banks that could follow. As of this fall there were 860 banks listed as “problem” banks by the FDIC. Typically about one fifth of the banks that make it on to this list end up failing. As a result of these failures the FDIC insurance fund is in the red, but authorities say they’ll have enough money to cover bank failures through 2014. Here are some interesting statistics about the banks that failed in 2010:

• On average the banks that failed in 2010 were much smaller than banks that failed in 2009.
• The assets of the banks that failed in 2010 totaled more than $92 billion. That’s a drop of more than 45% compared to the assets of the banks that failed in 2009.
• In 2009, the assets of failed banks totaled more than $169 billion.
• Roughly half of the 2010 failures involved banks based in California, Florida, Georgia and Illinois.

The FDIC exists to protect bank customers when a bank does fail, making sure they don’t lose money. “These are very small institutions,” Gary B. Townsend, president of Hill-Townsend Capital, told the Washington Post. “The total assets that they represent is insignificant compared to the financial system as a whole. It’s quite manageable.” And according to the Washington Post, just because banks are failing, that doesn’t mean the economy isn’t improving. As an indicator, failing banks are typically well behind economic trouble.

Democratic senator Sherrod Brown sees a real problem with American public health. Citing figures, Brown said forty-two million people between the ages of 18 and 64 without health insurance is a serious issue. Added to this number, the 25 million more who lack adequate coverage, and one could see why Senator Brown demands that this issue be addressed by Congress.

Buying a home is a realization of a life long dream and for many a symbol of “making it” in life. Since owning property is held in such high esteem many buyers tend to rush into the purchase. With this being the case the home buying industry has developed private mortgage insurance.

The private mortgage insurance, or PMI, serves the purpose of protecting the lender should the buyer default on the mortgage payment. For those buyers looking for a mortgage yet lacking at least 20% of the down payment, a private mortgage insurance is almost always required. This allows buyers with down payments less then that 20% amount to go ahead and buy the home.

As concern for the environment grows and gas prices soar, Hybrid Cars are hitting the market to a very warm reception. Championed by celebrities, the rich, and the trendsetters, hybrid cars are becoming affordable for the everyday working man. The popularity of hybrid cars is seeing a rapid growth and car manufacturers are quick to provide consumers with what they want.

The idea for an electric car has been around for several decades with a few models making it on the general market. These small electric cars required nightly charging via a wall outlet and could only reach speeds suitable for inner city driving at only a handful of hours at a time. While these cars were eagerly devoured during the early 1990s they soon saw a decline in sales due to inefficiency and cost.

American Airlines intends to decrease the amount of domestic flights it offers by between 11 and 12% after the end of summer of 2008. Earlier this year, American Airlines had only meant to lower the amount of flights by 4.6%.

In the meantime, the parent company of American Airlines, AMR Corp, suffered at the stock market. Its shares went down by a full 24% this week. Presently, a share of AMR stock costs $6.22, which is less than it used to cost just a day ago by $1.98.

The chairman of the Federal Reserve Board has told Congress that the housing and credit debacles have created a great strain on the economy. Energy prices have worsened, and hiring has declined.

Fed Reserve Chair Ben Bernanke said, “The outlook for the economy has worsened in recent months, and the downside risks to growth have increased. To date, the largest economic effects of the financial turmoil appear to have been on the housing market, which, as you know, has deteriorated significantly over the past 2 years or so.”