http://www.reuters.com/article/idUSN08445320100109?type=marketsNews
UPDATE 1-Horizon Bank first U.S. bank failure of 2010
3 banks failed in 2007.
25 banks failed in 2008.
140 banks failed in 2009.
FDIC Chairman Sheila Bair believes that we can do better. She believes that even more banks will fail in 2010 than ever before. She believes that more than $100 billion will be spent saving banks between now and and 2013.
What gives FDIC Chairman Sheila Bair the confidence to make these kinds of projections? How can she be sure that more banks will fail in 2010 than in 2009? It certainly can't be because Barack Hussein Obama claims to have saved the economy in 2009? So what else could she be thinking of when she expects increasing numbers of banks to fail in the future?
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