300? 300 Bank Failures? Who’ll Say 400? Oh, 1,000? Okay, 1,000 Wins!

We have a new leader in the bank failure prediction contest. John Kanas today said that we’ll see 1,000 more bank failures in the U.S., topping Meredith Whitney’s forecast of 300 from last week. To be fair, Kanas is forecasting that many failures over the next two years, while Whitney’s is just a one-year target. I still give the bank-bust award to Kanas.