Between the beginning of 2001 and the end of 2007, 26 banks failed. That's not quite four a year, call it one every three months.
During the first half of 2008, four banks failed. Call it one every month and a half, twice as often as the average for the preceding four years.
During the last half of 2008, 21 banks failed. In 26 weeks, that's one nearly every week.
Thus far, in 2009, 33 banks have failed. In 18 weeks, that's nearly two every week, eight every month.
Source
EDIT 3 July: In the first three months of this year (Jan-March), 21 failed banks, equal to that of the previous six months.
Between April and June, another 24 closed, a further slight increase, and in 12 weeks, a full 2 per week. Another seven folded yesterday (2 July), indicating more acceleration to come.
10 May 2009
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1 comment:
snowballing ...
*eyes my bank with some alarm*
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