4 more banks failed this week...but hey, Obama says things are looking up!

[peilthetraveler]

http://finance.yahoo.com/news/Regulators-shut-banks-in-apf-2813712325.html?x=0

More bank failures this week. 4 this week in fact...so this year since Jan 1 we have had 57 bank failures. Now, if you divide 57 by 28 weeks since the start of the year, thats an average of 2 per week. Wait a minute...we just had 4 this week....are banks failing at a faster rate now? I checked it out...yes! they are failing at a faster rate. Almost half of those bank failures happened in the last 6 or 7 weeks!

16 bank failures in July alone and we still have half the month left to go!

 

[Pilotboy]

This is a good thing. Shitty companies should go out of business.

 

[makloda]

A couple of hundred banks will fail this year alone. This has been known for months.

 

[peilthetraveler]

It's been a week since I posted that first post. 7 banks this week now have failed. They ARE failing at a faster rate. Why isnt this in the headline news? Oh that's right...Obama is talking about the Cop that "acted stupidly" to his harvard buddy. Yeah, thats so much more important to talk about that rather than the economy.

http://finance.yahoo.com/news/Regul...7.html?x=0&sec=topStories&pos=2&asset=&ccode=

 

[matgallis]

the banks which depend solely on loan revenues will fail.

 

[crgarcia]

Quote from Pilotboy:

This is a good thing. Shitty companies should go out of business.

Agree.

Sad but true.
Survival of the fittest.
Automakers (and their unions) should face their fate.