Up to 58 bank failures

[Kevin Yeats]

We are up to 58 bank failures in the US (thru July 22). These banks represent approximately $19 Billion in assets including 4 Billion dollar banks and 1 two Billion dollar bank.

This also makes 10 failures in July after two slower months (4 in June and 5 in May).

I think we hit 100 again for the third year in a row.

[Bryan Hancock]

Good...let them fail. We need to get rid of the dead weight in the system.