Banks going under.

This article from the Wall Street Journal titled FDIC to Add Staff as Bank Failures Loom has been generating alot of buzz today. Yet another consequences of the carelessness of the Great Housing Bubble - joining mortgages brokers -

"Regulators are bracing for well over 100 bank failures in the next 12 to 24 months, with concentrations in Rust Belt states like Michigan and Ohio, and the states that are suffering severe housing-market problems like California, Florida, and Georgia," said Jaret Seiberg, Washington policy analyst for financial-services firm Stanford Group.

The article is making the problem sound a bit contained to the areas that are already getting hit very hard - but just like the original limitations of the housing bust to only sub-primes this could easily become alot bigger than the first expectations.