May 2 2009
FDIC Insures $4.7 Trillion in Deposits with a $13.6 Billion Deposit Insurance Fund. This is Like Going into a Hurricane with a 99 Cent Store Umbrella.
On Friday, three banks failed and the FDIC took them over. Now this isn’t the big news necessarily. What it significant is that one of the banks taken over was Silverton Bank of Atlanta, Georgia. Silverton bank has $4.1 billion in assets and will cost the FDIC $1.3 billion from their dwindling insurance fund. [...]
Apr 26 2009
20,000 Americans Lose Their Job Each day but we Still Bailout Wall Street and Banks: 4 Charts Highlighting this Historical Financial Crisis. GDP, Inflation, Industrial Production, and Excess Reserves.
Four banks and one credit institution failed on Friday. This is now becoming a common Friday ritual. On February 13 four banks were also taken over by the FDIC. Multiple bank failures on one day are now growing in size. Yet the FDIC is quickly blazing through their insurance fund and soon, the taxpayer [...]
