Posted by: jhamon | August 1, 2009

Sobering: Bank Failures Accelerate

Calculated Risk, a brilliant mind who never seems to rest (or be behind the curve) reports that the number of bank failures is acclerating:

Bank Failures Accelerate

Bank Failures Accelerate

CR writes:

The pace has really picked up recently, with the FDIC seizing almost 5 banks per week in July, and with 5 months to go, it seems 125 to 150 bank failures this year is likely.

The current pace suggests there will be more failures in 2009 than in the early years of the S&L crisis. From 1982 thorough 1984 there were about 100 failures per year, and then the number of failures really increased as the 2nd graph shows.

All in all, an interesting autumn is coming…

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