Expect Many More Bank Failures Ahead

Thursday, August 20, 2009 10:47 AM

By: Julie Crawshaw

The number of banks that had non-performing assets equal to at least 5 percent or more of their assets — considered a critical threshold - more than doubled in the year through June, according to data compiled by Bloomberg.

Altogether, the 150 banks hold assets of $193 billion, 15 times the FDIC's entire insurance fund.

“These numbers are off the charts,â€