Reply #24: So one banking chain in one local market fails. [View All]

[TexasObserver]

Of course there are local banks in trouble. I specifically said so in a post above. But generally speaking, the vast majority of sound banks are local banks, and the vast majority of local banks are sound.

There will always been local banks that fail, but there are many thousands of local banks.

If 500 local banks fail this year, it's news. Even then, it's less than 10% of such banks, and it still is not the reason for the banking crisis. The fault lies with the big banks, which made absurd bets on bundles of paper.