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What's With Dave Ramsey Not Knowing How Many Banks Have Failed?

Reported by Melanie - September 17, 2008 -

You've heard of Dave Ramsey right? He's a folksy Christian radio talk show host and author who focuses on "financial counseling." He also has a show on the Fox "Business" Network and he appears regularly on Fox's "premiere business news" show, Your World w/Neil Cavuto. Bottom line? His gig is business and financial stuff, tinged with a don't-worry-be-happy sense of calm. But given the lie mistake he made Monday (September 15, 2008) on Your World, about how many banks have failed this year, one wonders what else he's up to and whether what he says can be trusted:

"When we look back at '89 and '88, we lost a thousand banks in a year and half and we lost a bank a day there for a while. We've lost two or three this year."

Here is a list of the banks we've lost this year per the FDIC. Looks like 27 to me. It sure ain't "two or three."

(YouTube is down. It's "performing site maintenance." I'll post video as soon as I can.) Here it is:

I bring this up because on July 15, Sheila Bain, the head of the FDIC was on Your World and she got the numbers wrong too. She misunderestimated the failures at five, thought there were, ahem, only eleven.

I think I'm seein' a trend here. Just sayin'.