Another 50 banks may fail in the US, expert says

Another 50 banks in the US may go bankrupt before the authorities solve the structural problem, Lawrence McDonald, former vice president of the financial corporation Lehman Brothers, told RIA Novosti.

The bankruptcy of the American investment bank Lehman Brothers in 2008 is considered to be the starting point of the global financial crisis. McDonald added that the current problems in the US banking system are similar to the collapse of Lehman Brothers itself.