20 to 30 or More Banks to go Belly Up in the Coming Weeks ? Or Are the Monsters Finally Going to Die ?

The authorization to give the Federal Deposit Insurance Corporation (FDIC) the authority to borrow $500 billion bodes ill in the coming few weeks for the health and lives of a notable number of banks across the nation. This looks to be a very bad sign for events that probably will occur. A conclusive link can be made that makes the case that a substantial number of banks are going to go into default and failure.

The collapsing home values market and increased foreclosures continuing to be experienced in growing areas of the nation make this a certainty, but one other alternative could very well eventuate: A number of the big banks, namely Citibank, Bank of America, and some of the other giant 19, are possibly likely to be shutdown and carved up due to their horrendous insolvency, and the monies the FDIC is securing is intended to process the transitions of these probable soon-to-die huge banks.

http://online.wsj.com/article/SB123630125365247061.html

http://money.cnn.com/2009/03/06/news/dodd.fdic.fortune/index.htm?postversion=2009030700

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