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Friday, February 13, 2009

more banks close

You do not need a crystal ball to see that things are bad. A few more banks closed today. This is as in closed permanent. Federal regulators closed more banks in 2008 than in the previous five years combined. This means that as house prices fall further even more banks will close.

In other news, the market closed lower today, actually below 8,000 and we could see people flee the dow, as it continues its downward trend.