1,000 banks could fail

So says billionaire LBO specialist Wilbur Ross.

This is probably a real good time to not have over the insured amount (generally $100,000) in any bank, especially not in a small bank.

The FDIC quite rightfully says no one has lost a penny in an insured account since they began in the 1930’s.

One Response to 1,000 banks could fail

  1. Jeff McNeill Mon, Aug 18, 2008 at 1:17 pm #

    …since they began in the 1930’s… heh…