If a GOPer were in office, this would lead the news:
Regulators on Friday shut down banks in Florida, New Jersey, Ohio and Oklahoma, boosting to 68 the number of federally insured banks to fail this year amid the pressures of the weak economy and mounting loan defaults.
We’re not even close to the bottom, good people – the second wave of foreclosures is hitting, and it will be accelerated by people just bailing out on their over-mortgaged properties. All Obama’s trillion or so in spending did was slow it down by a few months – and, in the end, make it worse than it had to be.
Meanwhile, as the economy contracts more than expected, Wall Street shows that the “Greater Fool” theory of stock investment is alive and well.
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