Warren Buffet (now worth about 45 billion dollars) has said that the recession is not over.
Not but a few days ago the powers that be said that the recession ended in June. Then the next day the Oracle of Omaha confidently stated that the recession is in fact not over.
Financially crispy, and unfortunately risky. That is the blunt truth regarding the US banking industry.
The unfortunate and scary reality of the matter is that out of the nearly 8,000 banks that are FDIC insured almost 830 of them are on the "oh crap" list that is kept by the FDIC.
That is a little more then 1 out of every 10 banks, or more specifically 11%.