Posted on 02/01/2012 9:26:05 AM PST by blam
REPORT: Prepare For A Giant New Wave Of US Bank Failures
Luke McKenna
Febuary 1, 2012
Forget Europe — the weak U.S. recovery puts more than 750 domestic banks at risk of failure, according to a report from Invictus Consulting Group (via Business Wire).
Invictus, which stress tested all FDIC-insured banks, says 758 lenders could collapse in the next three years, forecasting a new wave of borrower defaults in the absence of a strong economic up-tick.
A disaster in Europe would probably make things much worse.
Invictus says the at-risk lenders — mostly regional banks or subsidiaries of the majors — won't be able to sustain themselves on current earnings, and will likely fail if they don't merge or raise "significant" amounts of new capital.
The banks are spread right around the country, with big clusters in Florida (72), Illinois (69), Georgia (66), Minnesota (37) Missouri (33) and Tennessee (31).
They have total assets of around $440 billion — about $580 million on average — and many of the troubled banks in New Jersey, New York, Pennsylvania, Delaware, Michigan and Massachusetts are worth well in excess of $1 billion.
Invictus says about 200 of the banks are linked to publicly-traded bank holding companies.
(Excerpt) Read more at businessinsider.com ...
Obama is in charge and everything is okay.
Vote Obama 2012.
A bank holiday before April 15th?
All the more reason to expect that Obama will take Soros’ advice and nationalize the banks.
Using my tax return to buy a more secure mattress to keep my money under.
LLS
Headline should read;
FEDS HELP BIG BANKS GOBBLE SMALL BANKS WITH NO RISK
Lovely.
Bullets, beans, band-aids and blankets.
Freaky. I just posted on another thread that the quickest way to destroy the US is to declare all home mortages paid in full causing the banks to fold. Dire times ahead, my FRiends, dire times.
Ut oh, another “crisis” that only Barack Ogov’ment can “fix” with another couple trill.
I doubt we’ll even see bank failures until after November.
But what will Barack O’bama do in a second term? Nothing, absolutely nothing, would surprise me.
All the banks have to fail so Obama can desperately usher in his goal of a new world order,globalization.Even if elections have to be suspended by Obama because he orders martial law.Who would stop Obama from suspending elections; the same people that stopped him from usurping congress before NO ONE.
just look at the watch, you are getting sleepy....hehehe
Come how could giving me a couple hundred grand be bad? It is the American way. War on banks has been a staple of Democrat politics since Jefferson declared it 220 yrs ago.
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