Fifteen more banks are now looking for work this month.The beat goes on for failing banks, as the FDIC comes in to frog march the bankster gamblers out of the premises over and over again these daze.
Only the "good gamblers" are allowed to stay and play in the Treasury Casino, a private club for too big to fail boyz.
Those little guys without the proper tentacles just "hafta suffah", cause freedom ain't free.
A couple of things. I noticed that none of the recent bank failures were likely major recipients of TARP - if at all - and that all were being scooped up by larger banks as a result. Undoubtedly, that's likely the only way these things could be handled, absent immediate dissolution and a nasty haircut for the stakeholders, but once again, it signals the inevitable and resolute march in the corporate world toward consolidation, or "bigger is better," which inevitably leads to "too big to fail." Same as it ever was.
ReplyDeleteU.S. regulators have said the banking industry's recovery will lag the overall economy.
Which means what? Things won't be better for 10, 15, 20 years or more? That's quite a thought.
The FDIC has said it expects the total bill for bank failures to reach $100 billion for the period of 2009 through 2013
Maybe this is how to get MOMCOM's attention. $100B would have paid for a nice little war, maybe in some South American oil producing country? Now THAT'S hitting 'em where it hurts.
disaffected,
ReplyDeleteThey were not recipients of TARP because it was a ruse to plunder money out of the country, not to help our economy.
See, the taxpayer dollars are for taking care of business, like you said, of MOMCOM and other worthy recipients.
Haliburton, after all, has its HQ in Dubai, which did get lotsa TARP money for some strange reason (wink, wink).
Big is so booty-full ...