John Kanas, whose private equity firm bought BankUnited of Florida in May, told CNBC that 1,000 banks will fail over the next two years. 81 banks have failed so far this year. John Kanas also said small, private businesses tend to be hurt the most when the small local banks fail.
We reported earlier that Richard Bove of Rochdale Securities expects another 150 to 200 bank failures.
