Bank troubles to continue..............from Rico

Toxic holdings aka non-performing debts held by banks in many cases already exceed the banks equity (net worth) rendering them (a) insolvent or (b) unsafe & unsound.
- At least 150 banks hold 5% or more in non-performing loans.
- 300 more banks hold over 3% in these bad assets and have other underlying problems.

Sounds awful close to the 'rumored' 500 banks FDIC's She Bear alluded to as 'failing' huh?

This is BEFORE considering the next big hit...Commercial Mortgage default rates are now going up dramatically. Many of these loans are coming due between 2010 and 2012, and possibly 60% of them will default and leave bank-repo'd shopping malls, hotels, and office buildings empty and unsold.
- And you thought the vacant homes in the suburbs were a problem?

This brings us closer to the 1,000 banks swirling the porcelain that I talked about yesterday.

Last Thursday and Friday's move by the FED to monetize 40% of the National Debt [read: it printed money to put into the economy in order to cover 40% of the debt the US now carries] is another, bigger problem that should be considered as well. We are no longer 'buying' time, but 'renting' time...like a hotel room by the hour...before this all starts to unravel.