Friday Failures
Courtesy of Tom Lindmark at But Then What
Six seven banks were taken down by the FDIC this Friday. Here is the link to the FDIC website so you can read the horror stories at will.
I suspect that this might be the end of the line for this year. Given that the next two Fridays are holidays and the Thursdays preceding them are semi-holidays it’s doubtful they’ll be passing out lumps of coal in those shortened weeks. So that brings the total for the year to 139 140. Frankly, fewer than I expected.
I wouldn’t be surprised to see that number double next year and it could go even higher depending on the economic recovery and more particularly the state of commercial real estate.
