More banks likely to fail, Obama warns

By Alex Johnson

msnbc.com
updated 2 hours, 16 minutes ago

Mismanagement by the nation’s lending institutions was so extreme that even now, the losses sustained by banks still cannot be calculated and more banks are likely to fail, President Barack Obama warned.

In an interview airing Monday on NBC’s TODAY show, Obama said the nation’s banks were in “very vulnerable positionsâ€