During 2010, 884 U.S. banks had the unfortunate distinction of being named on the FDIC’s “Problem List.” As of the second quarter ended in June, 865 banks are already on the list putting on pace to eclipse last years number.
“We haven’t seen banks’ ability to earn money, prior to credit improvements, do much in the last year or so, and the recent changes in interest rates make it even more doubtful that they’ll be able to be very successful,” said Fred Cannon, director of research at investment bank Keefe, Bruyette & Woods.
If he’s right, the bank failure list will continue to remain high. During 2010, a total of 157 banks failed, the most since 1992 when 181 were closed.
What does all this mean for you and me? In a word, OPPORTUNITY!
Both troubled and failed banks will continue to flood the market with charged-off credit card debt. The excess supply will offer a tremendous opportunity to purchase these assets efficiently and at a steeply discounted price…
ROPAY ASSET INVESTORS IS POSITIONED TO HELP YOU TAKE ADVANTAGE OF THIS ONCE IN A LIFETIME OPPORTUNITY!
Contact us today and find out how we can help you achieve your financial goals.
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