Bank Failure Interactive Map

If you are keeping score at home, here is an interactive map of bank failures. So far we only have 14 bank failures including IndyMac, Fannie and Freddie, Lehman Brothers, plus AIG. But AIG is really an insurance company, so do we need a separate map for insurance companies now? While we're at it, we should also make a map for the automakers since I believe Ford and GM will fail as well.

Folks, this credit crisis is nowhere near bottom. And if you think things can't get any worse, think again. Even as I write this, Washington Mutual is up for sale which I had mentioned last year that the stock will go to zero. And Wachovia and Morgan Stanley are in talks of a merger. Question: What happens when you merge two very bad companies? Answer: A combined company that will inevitably fail. I believe that both companies will collapse whether they merge or not due to their over-exposure to mortgage-backed securities and risky loans. As you can see, the credit unwinding process have begun. This unraveling period is going to take many years to fix after countless lies, fraud, and greed by the banks, mortgage companies, real estate agents, appraisers, investment brokers, ratings agencies, top U.S. government officials, etc. The list goes on.

How many more banks will fail? Try 1,000. The current 2007 Financial Crisis will be just as dire as the Savings and Loan Crisis back in the 1980s, if not worse. There were 750 bank failures during the S&L Crisis. Expect more and more bank failures to come on a regular basis.

Related Posts:
Bank Rating List: Is Your Bank Safe?
What Happens to U.S. Dollar if FDIC Fails?
I.O.U.S.A Movie Trailer (2008): Brink of Financial Collapse

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