joe_momma
15th July 2010, 06:34 PM
Woo-hoo! Another Friday - BP is not dumping hydrocarbons into the Gulf, summer is finally here (unless you are in the UK), and Recovery Summer is in full swing -
In addition to such fine traditions as "Boilermaker two-fers", "the Friday afternoon Whitehouse document dump", and "run to the bank to cash my check to buy more PMs" we have
Bank Failures! - Every week the FDIC (staff doubled for 2010) technically announces a round of bank closures - this should not be hard with 300+ insolvent, and 2,800 that are in serious trouble - unless one considers that this is a government program (i.e., low expectations), there are political consequences with an upcoming election season, and the unfortunate problem that THERE ARE NO SOLVENT BANKS WILLING TO TAKE OVER ANY MORE FAILED BANKS - has led to a drought - with very or no banks going down recently.
The latest excuse (HT: a flying silver reptile) is that closing banks will make the BP oil spill seem more severe and "scary".
http://www.reuters.com/article/idUSTRE66D32F20100714
(snip) ... "The regulators are committed to working with the industry to respond to issues that arise in the aftermath of the Gulf oil spill and to minimize disruption and burden on banks and credit unions in affected areas," U.S. bank regulators said in a joint statement on Wednesday."
The question today - how many will go down by 8 pm PDT?
For the Ruprick - choose a state which will be honored!
One can follow along at:
http://www.fdic.gov/bank/individual/failed/banklist.html
Good luck!
This week I'm with 4 and Colorado.
In addition to such fine traditions as "Boilermaker two-fers", "the Friday afternoon Whitehouse document dump", and "run to the bank to cash my check to buy more PMs" we have
Bank Failures! - Every week the FDIC (staff doubled for 2010) technically announces a round of bank closures - this should not be hard with 300+ insolvent, and 2,800 that are in serious trouble - unless one considers that this is a government program (i.e., low expectations), there are political consequences with an upcoming election season, and the unfortunate problem that THERE ARE NO SOLVENT BANKS WILLING TO TAKE OVER ANY MORE FAILED BANKS - has led to a drought - with very or no banks going down recently.
The latest excuse (HT: a flying silver reptile) is that closing banks will make the BP oil spill seem more severe and "scary".
http://www.reuters.com/article/idUSTRE66D32F20100714
(snip) ... "The regulators are committed to working with the industry to respond to issues that arise in the aftermath of the Gulf oil spill and to minimize disruption and burden on banks and credit unions in affected areas," U.S. bank regulators said in a joint statement on Wednesday."
The question today - how many will go down by 8 pm PDT?
For the Ruprick - choose a state which will be honored!
One can follow along at:
http://www.fdic.gov/bank/individual/failed/banklist.html
Good luck!
This week I'm with 4 and Colorado.