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CR Daily News Prediction© GLOBAL ECONOMY (Predicted June 6, 2010)

GLOBAL ECONOMY - With 81 bank closures so far in 2010, the pace of bank failures is more than double that of 2009 and picking up speed. By this time last year, only 37 banks had been closed.

Predictions from Higher Intelligence - “Once again miscalculated decisions, driven by greed, bring institutions once trusted for their stability to their demise. They never got to be too big to fail, but did become too small-thinking to succeed.”

Commentary from the Mediums: These failures have cost the FDIC tens of billions of dollars and will cost over $100 billion more. The majority of the future failures will be smaller and regional banks, but the public will one day wake up to discover a major bank has failed.

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