Bernanke predicts US banking failure - papers 29 Feb

On the second day of his biannual testimony to Congress, Bernanke said some small US banks were likely to go under from the effects of the credit crunch and soaring mortgage delinquencies. "I expect there will be some failures," he said. "I don't anticipate any serious problems of that sort among the large internationally active banks that make up a very substantial part of our banking system." HOUSE PRICES CONTINUED THEIR DOWNWARD trend in February for the fourth month running, the UK's largest building society said today, but insisted that recession was still a "remote risk" for the UK ...