Featured Stories World News Commentary Money Watch Multimedia Prison Planet U.S. News Science And Technology

U.S. May See 150-200 More Bank Failures: Bove

  • Print The Alex Jones Channel Alex Jones Show podcast Prison Planet TV Infowars.com Twitter Alex Jones' Facebook Infowars store

Reuters
Monday, August 24, 2009

A prominent banking analyst said Sunday that 150 to 200 more U.S. banks will fail in the current banking crisis, and the industry’s payments to keep the Federal Deposit Insurance Corp afloat could eat up 25 percent of pretax income in 2010.

Richard Bove of Rochdale Securities said this will likely force the FDIC, which insures deposits, to turn increasingly to non-U.S. banks and private equity funds to shore up the banking system.

“The difficulty at the moment is finding enough healthy banks to buy the failing banks,” Bove wrote.

The FDIC is expected on August 26 to vote on relaxed guidelines for private equity firms to invest in failed banks, after critics said previously proposed rules were too harsh and would actually dissuade firms from making investments.

Full article here

U.S. May See 150 200 More Bank Failures: Bove  290509banner

This article was posted: Monday, August 24, 2009 at 3:46 am





Infowars.com Videos:

Comment on this article

Comments are closed.

Watch the News

FEATURED VIDEOS
The Truth About the NYPD Murders See the rest on the Alex Jones YouTube channel.

NYPD Cop Killer Inspired by ISIS? See the rest on the Alex Jones YouTube channel.

© 2013 PrisonPlanet.com is a Free Speech Systems, LLC company. All rights reserved. Digital Millennium Copyright Act Notice.