Oct 1 2009

FDIC Insuring 8,200 Banks with $9 Trillion in Deposits and Zero in the Deposit Insurance Fund. Calling Banks to Prepay Assessment of $45 Billion.

The FDIC has greatly underestimated the problems of our nation’s banking system.  Earlier in the week the FDIC proposed that banks put up $45 billion to protect bank depositors.  The average American must be amazed that a system backing $9 trillion in deposits is essentially broke.  Clearly the FDIC has the backing of the U.S. […]

Sep 2 2009

FDIC Insured Institutions have $13.3 Trillion in Assets. 8,195 Banks and 116 Institutions Hold $10.2 Trillion of Those Assets. One out of Four Institutions Unprofitable. 1,000 Banks Will Fail or Merge.

The banking system has taken the country to the financial edge of the greatest recession since the depression.  The enormous number of bad loans floating out in the economy only complicates the unemployment situation.  When we look into the latest banking data, we realize that over 1,000 of current banks will fail or merge with […]

Jul 13 2009

The Doctrine of Preemptive Bailouts and the Biggest Bailout you haven’t Heard About: The U.S. Treasury Plan C and the $3.5 Trillion You will be Paying.

Last week a story which gained very little traction hit the financial newswires.  The U.S. Treasury is working on an internal project informally called “Plan C” which seeks to deal with further problems in the economy before they occur.  The anonymous report came out stating the administration is reluctant to commit any additional money especially […]

Jun 20 2009

Downey Savings and Loan: The Anatomy of an Option ARM led California Banking Disaster. Other People’s Money Delusion.

On June 15, 2009 the Office of the Inspector General issued their audit report regarding the failure of California’s Downey Savings and Loan Association (Downey).  Now the story of DSL is important because it highlights the entire process of how we came to this financial crisis that now threatens the economic stability of the world.  […]

May 30 2009

FDIC Banking Report: 305 Troubled Institutions up from 90 in 2008. $13.5 trillion Assets held with 2.1 Million Employees at 8,200 Institutions.

The FDIC is facing the highest amount of bank failures since the early 1990s. To calm Americans the government in 2008 upped the amount secured at FDIC institutions from $100,000 to $250,000 for each customer account. Yet losses have been so deep that in the fourth quarter of 2008 the Deposit Insurance Fund (DIF) quickly […]

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