FDIC prepares for bank failures

WSJ reports that the FDIC is bracing for economic turmoil in 2008:

The FDIC is looking to bring back 25 retirees from its division of resolutions and receiverships. Many of these agency veterans likely worked for the FDIC during the late 1980s and early 1990s, when more than 1,000 financial institutions failed amid the savings-and-loan crisis.

What does the FDIC see coming?

Regulators are bracing for well over 100 bank failures in the next 12 to 24 months, with concentrations in Rust Belt states like Michigan and Ohio, and the states suffering severe housing-market problems like California, Florida and Georgia.