MSM: Bank failures top 100 for year; most since 1992

(MSNBC) – WASHINGTON – The cascade of bank failures this year surpassed 100 on Friday, the most in nearly two decades. And the trouble in the banking system from bad loans and the recession goes even deeper than the number suggests. Continue reading

MSM: Paulson Memo Warned Banks to Take Aid or Be ‘Exposed’ (Update1)

(Bloomberg) – Former Treasury Secretary Henry Paulson, describing nine U.S. banks as “central to any solution” of the credit crisis, told their leaders to take government aid or be forced to by regulators, according to a memo his staff prepared for a private meeting in October. Continue reading