Bank Execs Fear More Crisis as Yellen Downplays Liquidity Strength

Top financial executives have identified as many as 25 regional and mid-sized banks in the US that are ripe for failure, signaling a greater degree of banking rot. While Treasury Secretary Janet Yellen has called the US banking system "sound," CEOs say she has failed to grasp the full magnitude of the problem. The collapse of these banks could wipe out trillions in assets and deposits, making the scare number of nearly 200 banks in danger of imploding imminently possible and ratcheting up the chances of a deep recession. The CEOs are likening it to the thrift crisis of the late 1980s and early 1990s, and are calling for leadership from Washington to recognize the problem and find a broader solution.