| User Info
| FDIC Malfeasance Continues in forum [Market-Ticker]
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Eesmith4
Posts: 472
Incept: 2008-12-31
Port Fourchon
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typo alert: Quote:Now we're going to (again) take it in the backside as a direct consequence of the FDIC's refusal to do their damn job!
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While at a conference a few weeks back, I spent an interesting evening with a grain of salt.
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Etz
Posts: 13889
Incept: 2007-06-26
LA
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Quote:the next explosion in the credit crisis is going to come from Washington DC, not main street Perhaps handing billions of taxpayer dollars to crooked bankers wasn't such a good idea.
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Legal chicanery and beneficent darkness are the banker's stoutest allies - F.Pecora.
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Dji
Posts: 1245
Incept: 2009-04-21
Ponzi world 3rd rock from the sun
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Better yet what are any of the employees at the FDIC getting paid to Do?
Besides look the other way.
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Don't be a bag holder-Me
What goes up Must come Down- Alan Parsons Project
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Future_shock
Posts: 1668
Incept: 2007-10-16
Texas
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Guaranty Financial (GFG) is on deck every Friday. I suspect the FDIC is reluctant to take any of these regionals into receivership because it will call into question many others. If one goes others can't be far behind. Remember last year the market started to tank a bit after Indymac was taken over.
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Risingcream
Posts: 4406
Incept: 2007-09-07
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I'm happy we learned so much from the S&L scandal.
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Civilization...ancient and wicked. --Subotai
“The distance between insanity and genius is measured only by success”
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Drake
Posts: 1056
Incept: 2007-07-27
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Nothing will be done.
Thanks Karl for your diligence. I appreciate it.
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The wise are aware of their treasure, while fools follow their vanity.
Reality is the murder of a beautiful theory by a gang of ugly facts!
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Stoverny
Posts: 391
Incept: 2009-02-25
Banned
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Quote:July 16 (Bloomberg) -- Federal Deposit Insurance Corp. Chairman Sheila Bair told lawmakers that 500 more banks are at risk of failure “unless something dramatic” happens, Senator Jim Bunning said.
Bunning, a Kentucky Republican, said at a Senate Banking Committee hearing today that he had “just” left a meeting with Bair in which she made the statement.
An FDIC spokesman, Andrew Gray, disputed Bunning’s recollection of the meeting. http://www.bloomberg.com/apps/news?pid=2....Hmmm I would be willing to wager a very large sum that Bair said EXACTLY that. The FDIC fund is toast, they are juggling eggs trying to keep it afloat. |
Rinkrat
Posts: 44
Incept: 2009-03-04
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Allclear
Posts: 5049
Incept: 2007-09-18
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haven't you heard, we've had a change in leadership in January. don't worry...
Change is a comin
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Many of the truths we cling to depend greatly on our point of view...Obi-Wan
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100percentprole
Posts: 27
Incept: 2009-07-01
San Jose, California
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Stoverny wrote..The FDIC fund is toast, they are juggling eggs trying to keep it afloat. But I believe they have a call on funds from the Treasury right? |
Berkleyreindeer
Posts: 665
Incept: 2008-07-22
Minneapolis , MN
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rinkrat: most closures I have been reading about are initiated by the state regulator with FDIC in tow.
and Karl: This is not a ticker correct comment, but it is accurate. The banks that are on death's doorstep are not making more loans, paying management bonuses, or issuing dividends. The only thing that is decaying (other than soft things like trust in the system) is the asset base. If the FDIC has no buyer (CORS) there really is no economic difference between doing it last month and this month. The losses are there, and the FDIC will have to eat them because no one will take them over. My reason for this line of thought is simple. The only banks that have gotten closed down in a hurry were ones that were hemorraging deposits. Stupid policy to wait? Yes. Big difference? not really.
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It'll get worse. Just wait.
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Jdun
Posts: 162
Incept: 2009-03-19
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Az
Posts: 2386
Incept: 2008-09-22
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Thanks for posting that link Jdun.
Total Banks and Thrifts: 1,816 with D and E ratings from TheStreet.com = Total Assets: $4,665,499 (in millions)
edit: 4 trillion, 665 billion, and 499 million.
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Whistleblowers R my heros
Reason: corrected large #
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Critter
Posts: 538
Incept: 2008-01-26
iowa
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Mark my words - this crisis is not over and the next explosion in the credit crisis is going to come from Washington DC, not main street.
? what's that mean.
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Antone
Posts: 7660
Incept: 2008-02-03
Seditionia, USSA
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Critter, it means that there will be a Treasury bond market dislocation.
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As if anything has changed:
Wir sind gefickt.
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Critter
Posts: 538
Incept: 2008-01-26
iowa
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well screw trying to be a value investor. how about if we all just buy goldman sachs stock on tuesday about 10 a.m. since they have so much control over the market. remember , we don't wanna be right we just wanna be rich.
there's a bull market somewhere-just not where i go. so goldman it is.
i think i'll keep my account open for this dip into g.s. we are all going to do.
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Az
Posts: 2386
Incept: 2008-09-22
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critter wrote..well screw trying to be a value investor. how about if we all just buy goldman sachs stock on tuesday about 10 a.m. since they have so much control over the market. remember , we don't wanna be right we just wanna be rich. critter: then you're playing right into their playbook and stratagem. Swim little fish with the biggest shark until it's the only shark, then the shark will make a quick turn and eat you too. Tyranny ... checkmate.
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Whistleblowers R my heros
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