Bank charge-off rates higher now than during Great Depression

This is Ugly.

Again, these are the self-important bankers who keep telling everyone that if they don't get their fat bonus money, they will leave.
Can we even afford to keep them at this rate?
Let them show their value flipping burgers.
Even then, you just know they're going to screw up your order and overcharge in the process.

The rate of loan charge-offs by major U.S. banks has exceeded those seen in the early years of the Great Depression as the credit crisis continues to take a toll, Moody's Investors Service said Monday.

Bank charge-offs — loans written off as uncollectable — have reached $116 billion year to date, or 2.9 percent of outstanding loans on an annualized basis, Moody's said in a report.