MoneyNews - Roubini: Banks With $1T in Assets to Fail

"“There are about 700 banks in critical condition,” he maintains. “I believe 100 to 150 of them, with about $1 trillion in assets, will essentially go bankrupt in the next year.”

A majority of House Republicans voted against the bailout plan Monday.

The plan is unlikely to work and heads the country toward the “slippery slope to socialism,” Jeb Hensarling (R-Tex.) said on the House floor."