NYT - FDIC warns re banks

[GA Russell]

In a statement accompanying the figures, Sheila C. Bair, the chairwoman of the F.D.I.C., offered an unusually blunt assessment of the state of the industry.

“This is a worrisome trend,” Ms. Bair said. “It’s the kind of thing that gives regulators heartburn.”

http://www.nytimes.com/2008/05/30/business...amp;oref=slogin

[Guy Berger]

Yup, it's ugly. An industry expert at (IIRC) RBC Greenwich Capital was quoted in The Economist predicting that by the time this all blows over, 150-200 small banks (and presumably other depository institutions) in the US will fail. Shades of the S&L Crisis.

Guy

[Jazzmoose]

On the other hand, it looks like a good time to start checking out stock in the sound banks out there...if there are any, that is.