Godlike Productions - Conspiracy Forum
Users Online Now: 1,743 (Who's On?)Visitors Today: 762,012
Pageviews Today: 973,705Threads Today: 148Posts Today: 2,984
07:57 AM


Back to Forum
Back to Forum
Back to Thread
Back to Thread
REPLY TO THREAD
Subject 1,000 Banks to Fail In Next Two Years: Bank CEO
User Name
 
 
Font color:  Font:








In accordance with industry accepted best practices we ask that users limit their copy / paste of copyrighted material to the relevant portions of the article you wish to discuss and no more than 50% of the source material, provide a link back to the original article and provide your original comments / criticism in your post with the article.
Original Message 1,000 Banks to Fail In Next Two Years: Bank CEO
Published: Thursday, 27 Aug 2009 | 10:29 PM ET Text Size
By: Natalie Erlich
Writer/Producer

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,” Kanas told CNBC. “The numbers are climbing every day. Many of these institutions nobody’s ever heard of. They're smaller companies.” (See the accompanying video for the complete interview.)

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.”

[link to www.cnbc.com]
Pictures (click to insert)
5ahidingiamwithranttomatowtf
bsflagIdol1hfbumpyodayeahsure
banana2burnitafros226rockonredface
pigchefabductwhateverpeacecool2tounge
 | Next Page >>

News