A Thousand Bank Closures!
We have had 11 regular (small banks) collapse, and more recently the Bear Stearns bailout, Fannie Mae, Freddie Mac, and some minor entity called “Lehman Bros.” But:
In an exclusive interview with CNBC.com, Wilbur Ross, chairman and CEO of WL Ross & Co., says he sees possibly as many as a thousand bank closures in the coming months. And this will create opportunities for investors.