Interspersed between the continuing Michael Jackson saga and the real life story of yet someone else who survived a plunge from an aircraft flying over the Amazon, CNN buries this story about seven more banks that failed just in one day, i.e., today, which is the same day that Obama comes out saying that everything is going to be just fine. Don’t worry! Unemployment is though the roof, California is issuing IOUs, the stock market is in the shitter, and seven banks failed in one day. And did we mention to have a nice 4th, even though gas prices have risen to near three bucks again? Oh yeah, have a nice 4th.
Seven banks were shut down by authorities Thursday, pushing the tally of failed banks for 2009 to 52, more than doubling the failures in 2008.
Six regional banks in Illinois and one in Texas closed their doors, according to the Federal Deposit Insurance Corporation.
Twelve banks in Illinois have failed this year. Thursday’s failure in Texas was the first for the state in 2009.
Local banks have been hard hit as plummeting home values devalued mortgage-backed assets and rising unemployment rates caused an increasing number of consumers to default on their loans.
Larger financial institutions have been helped with government bailouts, but smaller regional banks continue to struggle.
FDIC fund: The total cost of Thursday’s bank failures to the FDIC is $314.3 million, bringing the FDIC fund’s total cost for failed banks to $12.3 billion this year. That compares with $17.6 billion in all of 2008.
Only 25 banks failed last year
So i ask to to every thinking person out their who uses logic and facts instead of kool-aid and words like "change" and "obama" to see the truth, Why is Fox News not covering the fact that Obamas stimulus package is nothing but hyper-inflation for the poor/middle class and pay off's for the rich?
(and please dont call me a bush supporter or republican at the risk of making yourselves sound liketotal idiots)
Seven banks were shut down by authorities Thursday, pushing the tally of failed banks for 2009 to 52, more than doubling the failures in 2008.
Six regional banks in Illinois and one in Texas closed their doors, according to the Federal Deposit Insurance Corporation.
Twelve banks in Illinois have failed this year. Thursday’s failure in Texas was the first for the state in 2009.
Local banks have been hard hit as plummeting home values devalued mortgage-backed assets and rising unemployment rates caused an increasing number of consumers to default on their loans.
Larger financial institutions have been helped with government bailouts, but smaller regional banks continue to struggle.
FDIC fund: The total cost of Thursday’s bank failures to the FDIC is $314.3 million, bringing the FDIC fund’s total cost for failed banks to $12.3 billion this year. That compares with $17.6 billion in all of 2008.
Only 25 banks failed last year
So i ask to to every thinking person out their who uses logic and facts instead of kool-aid and words like "change" and "obama" to see the truth, Why is Fox News not covering the fact that Obamas stimulus package is nothing but hyper-inflation for the poor/middle class and pay off's for the rich?
(and please dont call me a bush supporter or republican at the risk of making yourselves sound liketotal idiots)