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"The difficulty at the moment is finding enough healthy banks to buy the failing banks"

NEW YORK (Reuters) - A prominent banking analyst said on 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.

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Re: "The difficulty at the moment is finding enough healthy...

Democratic presidential hopeful Barack Obama on Tuesday offered a plan to provide health care to millions of Americans and more affordable medical insurance, financed by tax increases on the wealthy. Health care was one of the chief issues in the 2008 Presidential election. McCain and Obama, as well as their competitors in the primaries, each detailed proposals for improving the current health care system in the United States. While a number of ideas for full-scale reform were on the table, the biggest controversy stemmed from the notion of universal health care, proposed by all three of the major Democratic competitors. All of this was feature at U.S. News and World Report.

Thanks Michael

for posting this, every time an artical like this comes up, I email it to friends and family that still dont get it. Well at least I can say I tried to warn them.

Michael Nystrom's picture

All we can do is try.

All we can do is try.

I finally got my mother to believe . . .

She's been giving her bank the third degree! LOL, they're having a hard convincing her to keep her money with them. With interest being below 1%, I told her to get the cash and screw the bank.

Let's see what happens when their 2nd quarter report comes out. That's due today, right?