1,000 Banks to Fail In Next Two Years: Bank CEO

CNBC ^ | August 27, 2009 | Natalie Erlich

[RobinMasters]

The US banking system will lose some 1,000 institutions over the next two years, said John Kanas, whose private equity firm bought BankUnited of Florida in May.

“We’ve already lost 81 this year,” he told CNBC. “The numbers are climbing every day. Many of these institutions nobody’s ever heard of. They're smaller companies.”

Failed banks tend to be smaller and private, which exacerbates the problem for small business borrowers, said Kanas, who became CEO of BankUnited when his firm bought the bank and is the former chairman and CEO of North Fork bank.

“Government money has propped up the very large institutions as a result of the stimulus package,” he said. “There’s really very little lifeline available for the small institutions that are suffering.”

This comes at a time when the FDIC has established new rules on bank sales. Private equity, for instance, would have to hold double the capital of their competitors in order to buy such an institution, said Kanas.

[CRBDeuce]

the link of the website that lists banks assets, ratings of if and when they look to fail?

FDIC: Quarterly Banking Profile

[CRBDeuce]

Obama has got financial criminals behind him. Soros is one of them...Jeffrey Immelt (owns CNBC, MSNBC, NBC, etc.) is one of them; Dodd/Frank (senate/house); FNMA/Freddie Mac/FDIC; US Treasury; Wall St(90% Dem crooks); Trial Lawyers; etc. Yep, a few!

[norraad]

I have 3 of those "give up trying to sell it" in my neighborhood, too.

Not to mention infinite commercial real estate abandoned.

[Le Chien Rouge]

1,000 Banks to Fail In Next Two Years: MSM to blame GW Bush.

Obama ‘just’ inherited the problem.

sarc/

[urtax$@work]

We have several homes also, this is an older neighborhood with historically solid demographics/incomes. It would be considered a 'popular' close-in burb with good access to public transportation, walking distance shops etc. Someone mows the lawns of such but no activity other than that.

The mini-strip centers around town are pocked with vacant storefronts too. A silver thread in the stormy clouds is that current renters of such retail strips can renegotiate there leases.

[stephenjohnbanker]

“WHERE IS OVERSIGHT OF BANKING SYSTEM?”

There is none, and the feds are fighting an external audit.

[kellynla]

What are there...18K banks in America...
They should have let Wells Fargo, BofA & Wachovia fail...

[lapsus calami]

 

 

Sure, borrow it, steal it, keep it, whatever.