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 […]

Read More..>>
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, […]

Read More..>>
March 5, 2009

Chris Dodd Wants $500 Billion For The FDIC

I wish I could tell you this was a joke, and you could stop hyperventilating, but it is not. Mr. EZ Mortgage, Senator Chris Dodd, has heard the cries from the FDIC (going broke) and is charging in on his silver hair. I mean silver-haired steed. The FDIC is trying to squeeze more money out […]

Read More..>>
March 4, 2009

The FDIC Screws The Community Banks

This may well be the end of responsible small and community banks…all courtesy of the irresponsible financial institutions that screwed up their balance sheets with idiot investments. Bank of America, AIG and the gang may be “too big to fail,” but there are hundreds of banks who obviously weren’t. The FDIC’s fund that insures deposits […]

Read More..>>
February 9, 2009

U.S. Taxpayers Risk $9.7 Trillion On Bailout Programs

Mark Pittman and Bob Ivry from Bloomberg detail the depth of the damage the Fed, Treasury Department and FDIC have already caused to our nation. Our government is complicit in obligating every man, woman and child in this country for more than you are being told. And Geithner comes tomorrow for a trillion-plus more!!! Please […]

Read More..>>
January 13, 2009

Geithner On The Hot Seat For Employing Illegal Housekeeper & Fudging His Own Taxes

Senate Finance Committee Chairman Max Baucus (D-MT) reportedly called for an emergency meeting for committee members inside his office Tuesday. The problem? The disclosure by Obama Treasury Secretary appointee Timothy Geithner earlier in the day that he had failed to pay $34,000 in taxes from 2001 to 2004. Oops. Disgustingly, Senator Judd Greg (R- NH) […]

Read More..>>
November 25, 2008

Forget What I Said About The $700 Billion Dollar Bailout

Forget what I’ve said about the $700 billion dollar Bailout plan. Why? Because Bloomberg crunched the numbers yesterday, and says the U.S. government is prepared to lend more than $7.4 trillion on behalf of American taxpayers, or half the value of everything produced in the nation last year, to rescue the financial system since the […]

Read More..>>