FDIC backing 8,000 banks with $13 trillion in assets and a negative deposit insurance fund. FDIC survey finds millions of U.S. households are underbanked. Too big to fail banks add branches and grow even bigger.
The FDIC has a big problem on its hand. Some would say it is a too big to fail problem. The Federal Deposit Insurance Corporation looks over 8,000+ banks and protects the deposits at these banks. Yet this seemingly large number is merely a front for where the assets are congregated. The top 4 banks […]
The Futile Act of Saving in America Today – No Money Down Car Purchases, Low Down Payment for a big Mortgage, and High Interest Credit Cards for Everyday Spending.
This recession did change spending, at least for a few months. When the recession hit Americans had a negative savings rate, the first time ever we had the ability to spend more than we actually brought in. As the recession progressed, Americans did start saving and we took the personal savings rate to 6% (this […]
The Great American Bank Heist – On the Day we Reach a Monthly Foreclosure Filing Record Banks Announce Record Profits and the Stock Market is up 80 Percent.
It is rather fitting that on the day we hear about banks reaching record profits once again, because after all it is so difficult to borrow at zero percent and gamble in the stock market and make a gain, that we also find out that March was the highest month of foreclosure filings ever (and […]
The Big Change and Four Rules not learned from the Great Depression – Break up the Banks, Protect Workers, Use Stimulus Funds for Jobs and not Banks, and a Government Protecting the People.
As we drift further and further from the abyss of March of 2009, there is a slow acceptance that things are getting better even though average Americans need only look at their individual household balance sheet to know this isn’t the case. How can things not be better they ask? The S&P 500 is now […]