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How come bank failures always happen on Fridays?

Asked by SquirrelEStuff (9358points) November 1st, 2009

http://www.fdic.gov/bank/individual/failed/banklist.html

Here is a very long list of bank failures. Most have been within the past year. They always happen on Fridays. What is the reason for this? It seems that most people follow the news during the week but not on weekends, which is when these would be reported. Is this just a coincidence?

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