200 Bank Failures Expected in 2010, Good Riddance!

200 Bank Failures Expected in 2010, Good Riddance!

www.eutimes.net

Washington has so thoroughly botched its supervision of the banking industry that 200 banks are likely to fail this year — easily surpassing last year’s 140 bank failures … inevitably involving the greatest bank losses in history … and already costing the FDIC ten times more than the great S&L and banking crisis of the 1980s did.

I am not basing these conclusions on conjecture. They com More..e straight from official sources. Specifically …

In her testimony before the Financial Crisis Inquiry

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Hello nice people.

I keep hearing about a financial crisis to end all crisis, do we get there slowly, will it be a big shock some day? I don't see the financial system survive much longer. It is broke if I can believe all the news stories, but more important it doesn't serve us and is outdated. When will we be freed from this system, and what will come in his place?

I don't think anybody knows but will it happen and what are the consequences? These are important questions we have to ask ourselves in the near future I think.

Peace Vincent

www.eutimes.net
(visit the link for the full news article)

unfortunately, the banks that should have failed, well, they were bailed out by our taxmoney, and put into a position to take over these smaller, not so big, they can fail banks.....
say good riddance if you want...
but, I don't look forward to a world where the only banks you can deal with are these "too big to fail", get away with anything and everything they can dream up banks! taxpayer subsidized banks!

Second, if you do other business with a bank or if you still want to keep some part of your savings in bank CDs … at least be sure to avoid the banks most likely to fail and stick with the ones most likely to survive. (For the latest Weiss Lists of the weakest banks and S&Ls, click here. For the strongest, click here.)

www.eutimes.net...


I tried clicking...the link at above site does not work...

Does anybody have this list?

while myself and many others want big business to get what they deserve,,,,, bank failures aren't it,,,, unfortunately

all the banks going bankrupt are smaller,, local community, single state banks

and all that does is give citi, BoA, wells and others a stronger monopoly

and who will lose in the end,,,, us the citizens again


just like this bank tax,,,, which is being proposed by obama to quell popular anger at banks,,,,, but in the end who will be paying all that money they're taxed

again us, the citizens,,, by banks upping fee's and stuff to cover it


so really obama will be passing a big tax on us


and yet people don't think that far to get that,,,,, and i haven't seen msm pointing that out either,,,, either because they're dumb or by purposeful omission

reply to post by SirPaulMuaddib


I can probably tell you who will not

be on this list.

1. Goldman Sachs

2. J.P Morgan Chase

3. Bank of America

In my opinion, the ones that need to go!

[edit on 21-1-2010 by TwoTechnics]

I just had a thought...as stated here, the big banks got help/bailouts, the rest were left for failure. Looka t retail stores...the competition is being narrowed down,t o places like CVS, walgreens, walmart, all corporate places. what if, i ask yuo all, if the same thing is being allowed to happen to banks as well? Kill off the competiton, so thier profits sore? your left with very few choices then..and jobs being eliminated...
just what it seems to me..NWO in effect

Its easy to view the banks as some evil entity. The truth is that they can only get away with what the government lets them.

200 banks closing is nothing. As soon as things turn around again in to the next cycle of boom and bust. Those banks will soon reappear under different names. Then we go around again. Yeah!

Think about all the people who'll be losing there jobs. Bankers are'nt the enemy. They just do what they are asked at the end of the day. Make money for the bank. The trouble is that everybody thinks economics is a science when in fact its a theory. We dont know what will happen untill its to late to stop it.

reply to post by Algebra


Hai, well I am sorry but I disagree.
I think the whole banking system is made to turn us into slaves.
Banker don't produce goods, they don't feed us.
They parasite of our money, our product and our houses.
Life can be liven without them and I think it would be a better place.

Peace vincent

reply to post by Vincent84


I think you'll find they do feed you and do produce your goods. Without money from banks all consumer products would never get off the ground.

If you dont want to be a willing participent then go off in to the hills, build yourself a hut and hunt to live. We give our money to the banks they dont take it from us by force. There fore we feed the monster.

We do hope however, that they handle our money wisely. The government are supposed to watch them and make sure they do. If the banking system fails then its a failure for those who run the bank and the Government bodys that are supposed to regulate them. The bankers themselves are just drones.

Recently my bank (Bank of Elmwood) failed. The very next day the feds came in and sold it to the highest bidder.

reply to post by Algebra


You really think we cant life without banks?
Common that is what the whole system is designed to do, so that we cant function without it. Poor people pay interest for loans and rich people get interest for their savings. It is all a great scam the whole banking system and I honestly think we could be much better without banking. Or money but that is a whole other story.

Peace Vincent

reply to post by Vincent84


I understand your point, but without a monetary system. What would peoples motivation be, for doing the things that humanity rellys on.

You would still have to offer people something for there labour. Which would just lead to yet another form of a monetary system. Which people in power would then exploit. Theres no escaping it. You just need to know how to play the game.

You could do exactly the same as the bankers, from your own home. Trade forex or futures or something. Then it would be you who is exploiting the system.

Sadly, gone are the days where you could choose to live your life outside of society. Unless you want to miss out on the benefits anyway. Like the education that allows you to come on here and give your point of view.

Its a sick world were living in' but what can you do?

reply to post by Vincent84


Good Riddance? Are you serious? Most every small bank in my town didn't take any bailout for fear that the government would hold something over them. These banks have on average maybe 4 workers, so, really small. They are being charged $650k this year for not taking that money. So I take it you are for large banks that get bailed out. Unemployment is too high. How many more people do you want outta work?

reply to post by Algebra



I think our main drive in the future will be: keep everything going.
I don't think we have to work for a BOSS in the not to far future.
These are just thoughts I can't prove it will happen it just feels that way.

Peace mate.

reply to post by ventian


I am sorry if you misunderstood my posts.
That is really not my point of view.

I think we agree Ventian.

Peace!!

This isn't good news at all. The big banks who control governments have only increased their market share and consolidated their power. It's the entire reason Goldman and co. caused this crisis, they knew that the government would bail them out and let the small banks die. At the very least less competition will mean higher costs and now the "too big to fail" banks now have less competition and larger market shares then ever before.

[edit on 22-1-2010 by Jacob08]

reply to post by Vincent84


I think your issue is with society as a whole not just the banks. You feel like you were born and raised to be a slave and in a way your right.

When someone pays you a wage, They're essentialy buying your life off you. Be your own boss and dont borrow anything from the banks. They'll always have you on taxes but theres ways around this if you've got a good accountant

reply to post by TwoTechnics


If thats what you think then you don't understand BOA or JP Morgan/Chase. Goldman is a different beast and on that I agree with you.

For the other two, the vast amount of people work in the retail banking system. They are tellers, customer service folks, operations folks, etc. The average salary for these folks is about $50K and banks do not provide a pension. A union plumber has a far better situation than the person in the retail branch. When a bank gets hammered, the first thing they do is close branches, hurting the middle class.

The next largest group is the technical, operational and support staffs that serve the corporate entity. Accountants, programmers, network engineers, folks like that. These folks have good jobs, but certainly are not rich. When JP Morgan bought Washington Mutual, all of the folks in those jobs lost their jobs. These were folks who make $75 - $150K. The lifeblood of many communities. They're out of work and these communities are hurting.

Of a bank like BofA with 150,000 employees, probably 10-20 thousand of these folks make the big cash. Look, when you're Jamie Dimon making a few hundred mil a year, do you really care if you lose your job? If you've worked at a bank for 5 years to make senior teller and you get canned it is a big deal. Although the senior systems programmer might make 4 times as much at $125K, its a big deal for him as well and he's not the enemy.

Goldman is different because it is only an investment bank that does other things as well like run hedge funds and private equity. Napoleon said "and army marches on its stomach" when one of his generals made a negative comment about the value of the cooks in the army. Napoleon got it. Can't win a war if the soldiers are starving. A large retail bank runs on the client facing and operations and admin staff and those are the folks hardest hit by these regulations.

I'm all for measures that hit what can only be called excessive pay for some of these folks. Actually implementing those measures is and will be problematic. I just want folks to be a bit concise when hammering "banks". In many cases you're hammering your neighbor (or someone just like him)

reply to post by Algebra




WRONG! Things won't go around again! The US economy is purposely being gutted and destroyed. I mean what the hell do you think is happening? The US government could single handedly turn around everything that's wrong with our country and our economy but they won't and don't. The US middle class especially is the last roadblock to a one world government and most importantly a one world economy ruled by super corporations. If you can control the world economy you don't need government really. It's all about globalism. You think the powers that be want an independent minded, rational, well armed, liberty minded America middle class standing in their way? HELL NO! Everything you see happening is happening on purpose and has been for 60+ years.