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we could lose up to 500 more banks

Failures in the wings

July 24, 2009
"We just had a meeting with Sheila Bair, who is the head of the FDIC," Sen. Jim Bunning (R., Ky.), remarked at a July 16 hearing of the Senate Banking Committee. "She is a pretty honest lady and tells it like it is. She told us that unless something dramatic happens that we could lose up to 500 more banks--'up to'--she didn't say that that was the exact number." Something dramatic is happening to commercial real estate. .