Bank Fails as Analyst Predicts 500 More

Posted on October 18, 2009
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The California Department of Financial Institutions Friday seized San Joaquin Bank and shut it down. A report published by The Wall Street Transcript cited one analyst who predicts more than 500 bank failures could occur over the next 12 months. The report was based on 21 interviews with equity analysts, money managers and chief executive officers of publicly traded companies.

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