Visualizing Bank Failures ( 2008 – 2009 )

Computational Legal Studies writes Visualizing Bank Failures ( 2008 – 2009 ).

Visualizing Bank Failures ( 2008-2009 ) from Computational Legal Studies on Vimeo.

"Three Takeaways
1. Acceleration: There were four failures in the first six months of 2008, followed by another 22 failures in the next six months. By January of 2009, there were 21 failures in the first three months of the year, followed by 138 from April to last Friday.
2. Magnitude: Failures in the past two years have cost the Depositors Insurance Fund an estimated $57B. The IndyMac failure of July 2008 accounted for $10B alone, followed by BankUnited at $4.9B and Guaranty Banks at $3B.
3. Spatial Correlation: There is a significant amount of spatial correlation in California, Georgia, Florida, Texas, and Illinois. These states account for 77% of the total costs to the Depositors Insurance Fund. Furthermore, most of the losses in California and Georgia were concentrated highly around a few urban centers."