Through April 23, 2010, there have been 57 bank failures. That’s 57 in 113 days, or a failure rate of 50.4%. In 2009 there were 140 bank failures at a failure rate of 38.4%. So it’s been more than a year since the problem was ‘solved’, and the rate of bank failures has actually increased. In contrast, there were only 25 bank failures in 2008, 3 in 2007, none in 2005 or 2006, and only 22 from 2001 through 2004.
Wow, seven banks in his own back yard. We’ll see if he cares now, or whether he maintains the ‘quo’. Perhaps another round of golf is the cure!
Obama says he wants “…to get a better idea of what our options are…”. Well, here you go: (1) Crash and Burn, (2) Drastically Cut Government Borrowing and Spending, or (3) Burn and Crash. It’s not rocket science. Make an executive decision.