September 29, 2009

FDIC Discloses That It’s BROKE.

In a stunning disclosure, the FDIC has stated that it expects the Deposit Insurance Fund to be negative as of September 30. Tomorrow, depositors have no insurance– the capital of the Federal Deposit Insurance Corporation is gone. Banks are failing all over and the FDIC cash burn-rate is ridiculous. Speed up the printing presses, Ben […]

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August 17, 2009

Former FHLB Director: The Best Way To Rob A Bank Is To Own One

With more banks failing every week, and the FDIC running out of money to back up depositors, this video is quite timely. William K. Black, the former litigation director of the Federal Home Loan Bank Board who investigated the Savings and Loan disaster of the 1980s, discusses the latest scandal in which a single bank, […]

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