Within an hour of posting the latest Banking Fatality yet another one emerges. Regulators just shut down Security Pacific Bank in California making this the 19th banking fatality this year.
SBYnews originally predicted approximately 15 banks would go under as a result of sinking real estate assets. We were wrong. . .it's worse than than our original estimates.
Just released moments ago: http://www.chron.com/disp/story.mpl/ap/business/6101174.html
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Their dropping like flies
ReplyDeleteGemini crickets, how many are more are going to fold.
ReplyDeleteIt is really scary when one thinks about all of these banks going under.