Returning from a meeting this morning, I was listening to the radio news when a story ran regarding what a disastrous year 2008 has been for bank closures.  Here’s a graph from the bright guys at Calculated Risk putting the issue in proper historical perspective.  The graph is a bit hard to see at this resolution - 2008 is the graph column to the far right.

2008 is far from over and there will no doubt be more to come, but the breathless reporting today seemed a bit over the top.  Must be a slow start to the news day. 

Here’s the link to their Saturday 23 August post with commentary on the graph. 

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