8 banks close in Calif., Fla., Mass., Mich., Wash.

Business for the FDIC is booming. Eight more failures on Friday. Even more troubling, is the extent of the damage revealed when the FDIC finally combs through the book.

Regulators on Friday shut down eight banks -- three in Florida, two in California, and one each in Massachusetts, Michigan and Washington -- putting the number of U.S. bank failures this year at 50.

Source: finance.yahoo.com