Ken Houghton | May 13, 2010 5:21 pm
One of the things that goes without saying these days is that a recovery doesn’t lift all boats.
It doesn’t lift all banks, either.
For your consideration, the number and documented costs (in $MM) of bank closings in the U.S. since 2000.
The issue here is how many banks are being dragged down without the life line of being bailed out. They like the hordes of unemployed are allowed to fend for themselves until to the FDIC shows up on Friday afternoon, they are sold to someone else, and their name changes on Monday. No one buys the labor of the unemployed though.
Looks like 2010 will be a banner year for small banks failing. It rough when you are not TBIF. Then you have to face reality.