Recession seems to be stale news now but the latest from the department of recession is that many major banks may collapse in the weeks and months to come. about 14 banks have collapsed in just 2009 and many dozens more are expected to.

Stuart Greenbaum who is the retired dean and professor emeritus at Washington University feels that one will see a barrage of bank failures which may further cripple the economy. Estimates put about 100 banks as a figure for the impending banking calamity. Abut $50 billion in assets are in the risk of collapsing.

Much of this has been attributed to bad loans and credits as people have just failed to pay up their interests and loans. In fact the sooner regulators shut down troubled banks, the faster the economy will grow. Hence, it shall now become imperative for the bank regulators to shut down sick and ailing banks. That way the economy may be able to limp back to health in the years to come.

Via: CNN