posted on Apr, 19 2010 @ 08:51 AM
Here are some interesting statistics:
Bank Failures in the USA - 2007 = 3 / 2008 = 25 / 2009 = 140 / 2010 1st 4 months = 50, total for year expected to exceed 2009 total.
BUT - we are told that the economy is making an unexpected recovery (???) The bank failures do not mean that banks are going out of business; their
assets are being assumed by larger banks under deals arranged through the Federal Deposit Insurance Commission. The FDIC itself is reportedly losing
millions, if not billions, of dollars.
So what we have is a further consolidation of banking power where local and regional banks are being absorbed by multi-state banks which in turn are
being tightly controlled by the FDIC as part of the deal.
From sources of which I am aware, small business loans are still extremely difficult to secure with the result that many small businesses are failing.
The age of the family run businesses is almost over - unless you are connected to a national franchise operation where your business is still
controlled by the larger organization. Your money; their rules.
The trend is obvious: a tightly controlled economy where only a select few are allowed to participate. Even then the government frequently reminds us
that we are their servants - even the mighty, such as Goldman-Sachs, is coming under investigation. However, the major players who helped to create
the crisis are no longer there - the replacement team is now getting all the heat.
The result will be an enormous government bureaucracy that will be insensitive to individual situations and quick to penalize the working class for
breaking rules of which we are not aware.
What is that you just said? We are already there! OMG - that was quick.