Bank failures in 2008 = failures of 2007 + 2006 + 2004 + 2003 + 2002 [2009 failures already up from all of 2008]

Some banks are signaling that conditions are improving. Banking titan Citigroup Inc., which has been the weakest of the large U.S. banks, reported Friday it lost money in the first quarter -- but the $966 million loss wasn't as bad as Wall Street had expected.

SHOOT: Banks are failing but apparently a recovery is under way? And the above statement shows to what extent the market (and financial reporters) are inclined to grasp at straws. Conditions are improving based on losses being less than expectations (in other words even expectations are pretty dire).

clipped from finance.yahoo.com NEW YORK (AP) -- Regulators on Friday shut down two more banks, boosting the number of failures this year to as many as in all of last year. The tally of 25 bank failures this year all but guarantees the number that fall into the arms of regulators will surpass what was seen in 2008. Two of the nation's largest savings and loans failed in 2008: Washington Mutual Inc. and IndyMac Bank. Last year's total was more than in the previous five years combined and up from only three failures in 2007. The latest banks seized were American Sterling Bank in Missouri and Great Basin Bank of