9 failed banks: a 2009 record
Oct 31

“Since the rate of bank failure has been increasing, from 25 in all of 2008 to 45 in the first half of 2009 alone, total deposits in failed banks for 2009 will likely be in excess of $105 billion and 1.4% of total deposits held by U.S. depository institutions.”
- The Return of the Great Depression, p. 147

“U.S. Bank, NA, of Minneapolis, Minnesota, Assumes All of the Deposits of Nine Failed Banks in Arizona, California, Illinois and Texas…. the banks had combined assets of $19.4 billion and deposits of $15.4 billion.”
- FDIC, October 30, 2009

This brings the 2009 total of failed banks to 115, failed deposits to $107.2 billion, and failed deposits as a total of total deposits to 1.42%.

Comments1
  1. Vox,

    it would be great to see a total list of your predictions in the book, then next to it when those came to be.

    thx
    (ps – receiving my book shortly)

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