Delinquencies, Defaults Could Sink 1,000 Banks

Record delinquencies on residential mortgages and home equity loan defaults could cause more than 1,000 banks to fail over the next three to five years, according to Gerard Cassidy, an RBC Capital Markets analyst.

  • 10 Feb 2009
Record delinquencies on residential mortgages and home equity loan defaults could cause more than 1,000 banks to fail over the next three to five years, according to Gerard Cassidy, an RBC Capital Markets analyst. In a client note, Cassidy said he expects most of the failure to occur ...

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