Brace For Another 1,000 Bank Failures

Brace For Another 1,000 Bank Failures

www.businessinsider.com

"Government money has propped up the very large institutions as a result of the stimulus package...there's really very little lifeline available for the small institutions that are suffering."

(visit the link for the full news article)


Related News Links:
voices.washingtonpost.com

Related AboveTopSecret.com Discussion Threads:
"In the Tank Forever": U.S. Consumers, Retailers in a "Death Spiral," Davidowitz Says
FDIC May Need $150 Billion Bailout as More Banks Fail
Racketeering 101: Bailed Out Banks Threaten Systemic Collapse If Fed Discloses Information

So far this year we have had 81 bank failures. There are over 400 banks on the official FDIC troubled bank list (not public). Like the thread from Tentickles says I think what we are seeing is a death spiral.

On another thread I posted how it may seem that the FDIC is insolvent.

And once again we have the FED and the banksters threatening the public with economic collapse if they are audited.

It seems like the house of cards might come tumbling down at any moment.

www.businessinsider.com
(visit the link for the full news article)

[edit on 28-8-2009 by lucentenigma]

I don't know how people can keep on and just act like the bailouts were a success. It's a well known fact that the government doesn't really care about other people other than the people who are the bigger competitors. It's as libertarians say- the government keeps the big businesses in power... and hurts competition.

Existing Breaking News thread here:
www.abovetopsecret.com...

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Thank you


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