72 Bank Failures And Counting

So far this year there have been 72 bank failures in the US. What is more concerning is that Bloomberg came out today with an article stating that they expect more than 150 major U.S. lenders to fail due to their nonperforming loans that equal 5 percent or more of their holdings. The number of bank failures in the US is the most since 1992.

Quoting one of the bank analysts regarding the recent Bank failures, Blake Howells said, “These numbers are off the charts.” Blake is an analyst at Becker Capital Management in Oregon. Putting this into context, how can the stock market continue to rise. Foreclosure are increasing and unemployment is at decade highs, the question is how many more bank failures will there be?

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