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cptindy
Penny Hoarding Member
572 Posts |
 Posted - 03/19/2010 : 20:00:45
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By John Letzing You must be logged in to see this link.
SAN FRANCISCO (MarketWatch) -- Four additional banks in Georgia, Alabama and Minnesota were closed by regulators Friday, bringing the national total to 37 for the year to date. Ellijay, Ga.-based Appalachian Community Bank /quotes/comstock/11i!apab (APAB 0.21, 0.00, 0.00%) , Hiawassee, Ga.-based Bank of Hiawassee, Fort Deposit, Ala.-based First Lowndes Bank and Aurora, Minn.-based State Bank of Aurora were all closed. The four bank failures will cost the deposit-insurance fund $599.5 million, according to the Federal Deposit Insurance Corp.
My Comments and question about this
Ok, so we have four more banks shut down and gobbled up by the big boys. FDIC insurance supposedly pays the depositors from funds set up from the existing banks. Which as I have read have been told to increase reserves and contribute more funds to make this plausible. Yet at the same time we are working on legislation to decrease reserve holdings to zero. Hhmm!
This sounds like a complete shakedown much like the robberbaron history I have read. How is it that the congress and bankers can allow discrepancy and actually condone and praise its being. Then turn right around and completely go the other direction. Conveniently just after they rid themselves of even more competition.
I have read that there will be over 100 bank closings this year alone. If we are currently aware that these banks are insolvent how is it they are on a scheduled closing rate? This seems all well to planned.
There is way to much funny business going on all across the board.
Almost every person in a key position is from Goldman Sucks. Even a chimpanzee can realize this is wrong! You can't put a bunch of of people, all from the same place, being paid by the same company in charge of overseeing all the money and regulations. It is a joke!
 Clown Face for the clowns running this country!
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"It is the nature of the human species to reject what is true but unpleasant and to embrace what is obviously false but comforting"
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Four More Bank Closings
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