Not sure I’d call this the second largest in history. 9,000 banks failed in the 1930s leading into Great Depression. You read that right: nine thousand.

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Was there another that’s bigger than this one and smaller than that one?

2008?

I think 30 is just a first wave in a larger crisis that's about to spiral out of control. I reckon many banks would be operating in a similar fashion --- bought treasuries trusting FED projections while having ZERO reserves

Is this stat only in the US? That means there were more than 9,000 banking institutions in the US in 1930? That’s wild if that’s true but I find it hard to believe.

9,000 banks failed - $7 billion in depositors' assets.

Yeah just googled it 😳

I continue to see this referenced as the second largest. Might be missing something though. We all know the GD was the largest… what’s after that that’s bigger than this?

2008?

465 were closed as a result of the 08 financial crisis

Which would be about $125 billion today in adjusted dollars.

Since 2008

Ok thank you