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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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 […]

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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 […]

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