Nevada's Security Savings is 16th bank to fail in 2009

Although FDR face a much worse banking crisis than we are in now, President Obama is seeing some of the same problems. With 16 banks failing within two months, confidence in the banking system is at a low-point. It doesn't help matters when the new Secretary of the Treasury does not disclose enough details of his plans for recovery. I would expect one of Obama's next priorities to be coming up with a detailed plan at relieving banks of some of their bad assets without having to go to nationalization.