By Alistair Barr, MarketWatch
SAN FRANCISCO (MarketWatch) -- More than 1,000 banks may fail during the next three to five years as the recession intensifies and loan losses climb, an analyst at RBC Capital Markets estimated on Monday.
In 2008, analyst Gerard Cassidy forecast 200 to 300 bank failures, but now he says the environment has deteriorated since then.See 2008 story on bank failures
"Residential mortgage delinquencies remain at record levels, home-equity loan defaults are steadily rising and residential construction and land loan non-performing assets are skyrocketing for lenders with excess exposure to the weakest housing markets in the U.S.," Cassidy wrote in a note to clients.
"In conjunction with the slowdown in the economy, credit deterioration has accelerated in the commercial and industrial and commercial real estate loan areas," he said.
Eventually, we while have one bank.
ReplyDeleteJP Morgan Chase.
I'm quite serious about this too.
Bank of America will be allowed to stand until near the end, then WHAM they too will be absorbed by the great Rockefeller empire.
Time to develop our own US-Constitutional currency and reserve...and this time back it with silver get rid of the Fed. We don't need 5-private foreign owned banks taxing us without operational transparency.
ReplyDeleteFrom T. Jefferson:
"If the American people ever allow private banks to control the issue of their money, first by inflation and then by deflation, the banks and corporations that will grow up around them (around the banks), will deprive the people of their property until their children will wake up homeless on the continent their fathers conquered."
I think that we will surely see far more than 1000 banks fail within the next three to five years. My guess is that few will be left standing if any.
ReplyDeleteOnly banks directly connected to the Rothschilds.
ReplyDelete