I'm sorry, but to be honest, for some reason I can hardly contain my interest/curiosity as to what banks are going to be put to sleep this weekend.
We have the over/under set at 1.5 per week for the foreseeable future. I'm going with the under yet again this week, but it's just a gut feel.
The reality is that ABS prices have continued to deteriorate and the consumer has done nothing but get weaker and weaker. That said, I think the FDIC wants to make this meltdown happen as slowly as possible initially such that depositors do not gain a fear-based momentum. This is incredibly complex and given the fragility of the typical depository institution's business model, I think fear is the rational behavior.
Anyway, schadenfreude reigns as I await my weekly bank failure news.
Strap your boots on.