"IndyMac, with assets of $32 billion and deposits of $19 billion, is the fifth bank to fail this year. Between 2005 and 2007, only three banks failed. And in the past 15 years, the FDIC has taken over 127 banks with combined assets of $22 billion, according to FDIC records."
well, that's big news- who knew until now? but i love this one:
"There will be increased failures, but it will be within range of what we can handle," Bair said. "People should not worry."
and we should believe them why?
4 comments:
Idiots, people should not worry. Hell don't worry this is just beginning and we still have money to bail them while bankrupting you.
On a cheery note I was just at Weases and he has a gardening video up though it is informative it is not his. You can get a couple good tips from it. Take care!
He said as the institutions of banking come tumbling down.
What scares me even further is the presumed incoming administration had no qualms about voting for continued spying and wire tapping. He had little to say on matters such as these.
That would be because NOBODY has the slightest idea in hell what to do, other than talk the problem to death.
You know, getting back to this I know the Fed says don't worry they will be behind Fannie and Freddie. That is our taxes bailing the mess the Government created under Greenspan. Bankrupting the country is part of this perfect manufactured storm and it is all getting ready to come to a head!
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