Last year, I wrote that 1,000 banks were poised for failure. Since then, a few hundred have failed.
But now we have this:
WASHINGTON””A total of 775 banks, or one-tenth of all U.S. banks, were on the Federal Deposit Insurance Corp.’s list of “problem” institutions in the first quarter, as bad loans in the commercial real-estate market weighed on bank balance sheets. FDIC: Problem Banks at 775.
You should know what to do (already).