"I think that the big banks won't fail in the sense that they will go to zero and depositors would lose money. I think the Fed and other regulators will make things happen. I think it's the medium-sized banks, and particularly some of those that got overextended with the subprime and other kind of mortgage debt. I think those are the ones that had the serious mismatch, making 20- and 30-year loans based on 90-day deposits."Quote of the day goes to Ross as well. "Making real triple-As will solve a lot of the problem," he said in reference to restoring investor confidence in the rating system. "The problem is we've had a lot fake triple-As before." Click here to see the full video.
Ross on 'Fake AAAs' and Bank Failures
banks fail this year.) Summary via the Squawk Roundup: