FMT’s been a reckless actor for some time. I’ll be shocked if it doesn’t fail. There’s no franchise there worth saving. I’d also keep an eye on DSL, VNBC, CORS, BKUNA… the list goes on and on and on. In a moment of unintentional candor, the only intelligent thing Bernanke’s said in the last month was that he believed we could have 100-200 bank failures over the next couple of years. I think that’s a pretty good number. Plenty more shoes to drop that aren’t priced into the equity market.
