Boston Globe features a photo essay (The Big Picture) on a number of huge and unfinished housing projects in Florida. My jaw dropped when I recognized the actual size of these projects and how much of this wasted investment is sitting on the balance sheets of many banks which passed ‘stress test.’
Seeing is believing.Take a look.
Interactive Bank Failure Maps
http://graphicsweb.wsj.com/documents/Failed-US-Banks.html