Friday, August 14, 2009

Banks approaching a point of no return

**** Scroll down for today's Clunker comments ****

Via bloomberg...

"More than 150 publicly traded U.S. lenders own nonperforming loans that equal 5 percent or more of their holdings, a level that former regulators say can wipe out a bank’s equity and threaten its survival.

The number of banks exceeding the threshold more than doubled in the year through June, according to data compiled by Bloomberg, as real estate and credit-card defaults surged."

Maybe the CEO of Blackstone can fund bank bailout part 2 :)

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