âThere will probably be some bank failures,â the Fed chairman told the Senate banking committee in his second day of biannual testimony to Congress. He said the banks at risk were âsmall and in many cases de novo [new] banks that are heavily invested in real estate in localities where prices have fallenâ. But he said: âI do not anticipate any serious problemsâ at any of the big banks, which played the most important role in the US financial system. http://www.ft.com/cms/s/0/f966fc3c-e647-11dc-8398-0000779fd2ac.html You are on record Benny.