PROXMIRE SAYS RATE OF U.S. BANK CLOSINGS AT 200
Senate Banking Committee chairman
William Proxmire says the U.S. banking system is sound despite
a rate of failures that could reach 200 this year.
    In a statement in the Congressional Record, the Wisconsin
Democrat said that as of March 19, 50 banks had failed. "At
that pace, some 200 banks will go bankrupt before the year is
out," he said, compared to 144 last year--worst since the
depression.
    Despite the statistics, he said, "American banking today
remains overall remarkably safe and prudent."
 Reuter
