They are adding up FAST!

[Gettintoknowsomethin]

check this out! Bank failures are adding up fast this year! The FDIC is going through the insurance fund fast. If this keeps up and they run out of FDIC funds they will have to have a bank holiday untill the goverment gives them more money. I hope everyone is buying gold and silver I noticed it skyrocketed in price today as the dollar went down fast. The number of banks on the FDIC's list of problem institutions leaped to 305 in the first quarter -- the highest number since 1994 during the savings and loan crisis -- from 252 in the fourth quarter. The FDIC expects U.S. bank failures to cost the insurance fund around $70 billion through 2013 http://finance.yahoo.com/news/Regulators-shut-down-banks-in-apf-2989772405.html?x=0

 

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[oneeye]

Did you see the Congressional hearings today with Bernanke? The FED gave out $500 Billion to FOREIGN banks! The Congressmen grilling him wanted to know why our FED gave New Zealand banks $9 Billion, since this was the equivalent of $3000 for every citizen of New Zealand. Must be nice for the US Taxpayer to be everyone's else ATM machine.

Personally, I do not buy the "bank holiday" thing. I suspect they will just print more money and keep the spigot wide open until the whole blows up with inflation.

Thanks for sharing the link.
Dan

 

[Seamuss]

Bank failures are Ponzi and pyramid schemes in slow motion.

Your money goes through the front door and the CEO's take it out the side door at retirement.

That's why I don't keep money in the bank, except enough to keep an account open.