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3rd Down: More Bank Failures Anticipated

Posted on May 11, 2008

Its always a small sidebar in these type of crisis: the banks too small for the big guys to care. Rather than being bailed out, they simply are absorbed at pennies on the dollar by the big boys whose hands are firmly in the till of the Fed.Only three banks have failed year to date, but the third ANB Financial, which controlled $2.1 billion in assets with $1.8 in deposits much of it demand deposits like your checking account is no small fry. Expect more as the recession really takes hold and payments hit the skids on the extreme overhang caused by massive easy-credit-caused disl...

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