Impact of Economic crisis on banking sector

Economic crisis - Many banks in US are sinking due to this economical crisis. Even though experts are saying that this crises will come to an end soon, the impact of crises in some what un acceptable. Last Friday, 15 banks are seized due to improper business loans, and in sufficient fund to run their business. With this fifteen banks, total number of banks lost their business reached 115 -120 since the crises started. still there is a chance of few more banks to come.
This is worst situation after 1992. People those who got their loan from these banks are not able to repay the amount. The employees are affected worstly and they do not know where to go. Washington Mutual is the one among those fifteen, which fall in this crises.
It is noted that the total assets of this financial institute was $ 307 in 2008. The reason behind this is improper lending money to their customers and they can not able get back the money as they are struggling to go. One important thing to consider is, the employees and the actual customers are in trouble with out knowing where to go.