Strip Clubs, Lewd Photos, Boozy Hotel: Toxic Atmosphere at FDIC...
Monday, November 13, 2023
Saturday, November 11, 2023
Five bank failures in 2023 to date costing the DIF $35.569 billion
11-3-23 Citizens Bank of Iowa: cost to the Deposit Insurance Fund is $14.8 million
7-28-23 Heartland Tri-State Bank of Kansas: cost to the DIF is $54.2 million
5-1-23 First Republic Bank of California: cost to the DIF is $13.0 billion
3-12-23 Signature Bank of New York: cost to the DIF is $2.5 billion
3-10-23 Silicon Valley Bank of California: cost to the DIF is $20.0 billion
Thursday, March 16, 2023
Discount window bailout operations for banks are now officially worse in magnitude than in 2008, though not in scope
We don't have 500 bank failures.
What we do have is Dodd-Frank 2010 limits on deposit insurance not keeping up with 2023 realities.
Unless Congress steps in and helps high depositors, there will be an exodus of high depositor accounts all across the country to money center banks which have too big to fail status and an FDIC put as systemically important enough to backstop.
This would mean many local banks will come under stress and at minimum weaken local economies even if they don't fail.
We do not need the big banks to become any more powerful than they already are.
And we certainly must not weaken local economies.
The reasons in the plumbing don't matter at this point. It's too late for that.
The $250k limit has to change. The authorities at the Fed, Treasury, and FDIC are constrained by that in what it is permissible for them to do.
Call your Senator.
Call your Representative.
Monday, March 13, 2023
You remember the 2010 Dodd-Frank financial reform legislation, right?
Chickens . . . comin' home . . . to roost!
Studies have found the Dodd–Frank Act has improved financial stability . . . lol
Monday, April 3, 2017
University of Georgia historian minimizes the magnitude of foreclosures during the Great Depression, missing their significance for the value of homeownership today
Thursday, November 17, 2016
Once again Rush Limbaugh is full of it about the late, great recession
Friday, January 23, 2015
Bank Failure Friday: The Second of 2015
Saturday, January 17, 2015
Bank failure number one of 2015 is in Crestview, Florida
Costs to the FDIC system for failures since the beginning of 2007 to date are close to $90 billion.
Friday, December 19, 2014
Bank Failure Friday: the 18th of 2014 is in Mankato, MN
Wednesday, December 17, 2014
Rep. Tim Walberg (MI-7) admits everyone in the US House read the Cromnibus bill in July and knew what was in it
Monday, December 15, 2014
Federal Reserve and FDIC lose power
Saturday, November 8, 2014
Bank Failure Friday: number 17 on the 7th of November
Friday, October 24, 2014
Bank Failure Friday: the 16th in 2014
Friday, October 17, 2014
Bank Failure Friday is back with the fifteenth in 2014 in the state of Maryland
Friday, July 25, 2014
Bank Failure Friday: GreenChoice Bank, fsb, Chicago, Illinois, failed tonight
Sunday, July 20, 2014
Eastside Commercial Bank, Conyers, Georgia, failed on Friday, July 18th, 2014
Friday, June 27, 2014
More than 7 years after the crisis began, banks are still failing
Friday, June 20, 2014
Bank Failure Friday . . . two tonight: the 10th and 11th in 2014
Saturday, May 31, 2014
Bank Failure Number Nine: Slavie Federal in Bel Air, Maryland
Friday, May 23, 2014
Bank Failure Friday: The 500th bank failure since February 2007 and the 8th failure in 2014
Instead read: Congress created the FDIC in 1933 to make the public believe the banks are sound even though they are not. Hell, the banks are designed under the Federal Reserve and the FDIC to be precisely NOT SOUND.
Extend and pretend works its way through, ever so quietly, ever so unremarked.