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Economist: FDIC gearing up for bank closures

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posted on Jul, 8 2009 @ 06:00 PM
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Economist: FDIC gearing up for bank closures


washington.bizjournals.com

The Federal Deposit Insurance Corp. is gearing up to handle a large number of bank failures expected...

"They know they’re going to take down a large number of banks..." said Mark Dotzour, chief economist and director of research for the Real Estate Center at Texas A&M University.

Nobody knows what to do so they’re doing nothing,” Dotzour said
(visit the link for the full news article)




posted on Jul, 8 2009 @ 06:00 PM
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Well folks, the poison hit the big banks and now its spreading to the local mom n' pop places. The places where your grumpy, thrifty dad "who never trusted those Wall Street crooks to begin with" has placed his surprisingly sizable fortune, perhaps. Yep, the ole money straw is moving in that direction all right...

Is it coffeecans-buried-in-the-back-yard time yet?

washington.bizjournals.com
(visit the link for the full news article)



posted on Jul, 8 2009 @ 06:39 PM
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I'm all about the "Bank of Sealy". Or the "Bank of Juan Valdez"!


Yes, that is where things are going, I smell an up coming bank holiday. Talk about a mess about to be on the governments hands, wait till nobody can get out money to pay their bills.

Also if one of our more knowledgeable readers here on ATS could explain what exactly a bank holiday will do to the economy would be nice. Thanks!

I'm not too sure, but I think if they declare a bank holiday that means absolutely no access to your money. Banking will be shut down entirely.

I still say that should have let the big banks fail, because now the cancer is spreading through out the system.



posted on Jul, 8 2009 @ 08:58 PM
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Its been 'coffee can burined in the back yard' for years, but its more a matter of having gold or other precious metals as the dollar is tanking very quickly



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