1,000 Banks to Fail In Next Two Years: Bank CEO

Published: Thursday, 27 Aug 2009 | 10:29 PM ET
By: Natalie Erlich
Writer/Producer

The US banking system will lose some 1,000 institutions over the next two years, said John Kanas, whose private equity firm bought BankUnited of Florida in May.

“We’ve already lost 81 this year,â€