Seven more banks fail, bringing this year's total to 52

Late last week, just before the long Fourth of July weekend, seven more banks closed, bringing this year's total of failed banks to 52. And if you're the sort of person who lies awake night thinking about these things, or if your money was with one of these failed banks, you may have questions.

So I thought I'd offer a recap of what's been going on, and ask (and answer) a few questions that I imagine people are wondering.