The Dow dipped below 10,000 again on Friday closing with the first 3 digits being 999. Clearly the devil is in the workings as we can see when standing on our heads doing Geithner-Bernanke Economics.
Meanwhile in a related story, one which flys in the face of WT27 and claims of a rosy and healthy picture for the Nation, it seems The San Joaquin bank went bye bye, making the total so far this year 99 failed banks.
Hmm..99 this year, as opposed to 25 last year...hmm...
The bank failure will cost the FDIC somewhere in the area of 103 million dollars. (and remember folks, it is the taxpayer who supplies money towards the FDIC, in one way or another)
http://www.nytimes.com/aponline/2009/10/16/business/AP-US-Bank-Closures.html
"The 99 failures may not fully reflect the depth of banks' travails. Many more banks -- perhaps hundreds -- are so weak they could have been shut down already, experts say. Many vulnerable banks are in limbo. Regulators have threatened to close them unless they shore up their balance sheets, but the recession has made it difficult to raise capital or sell assets."
Ev'rybody let's all join in and sing:
99 banks have failed this year
99 banks have failed
You shut one down
then sell it around
monopolize all of them now.
Everybody now-
99 banks have failed this year,
99 banks have failed
As one shuts down
some tell of rebound
yet the economy still is southbound...
Yes, 99 banks have failed this year
99 banks have failed,
depositors know
it's them who'll go
much deeper in debt at tax time.
99 banks have failed this year,
they say there be some more
the left they all cry
'twas Bush who drank rye
that caused the chaotic flow.
So, 99 banks which have failed this year
the managers have all been fired
but the President says
The economy's better
although it keeps getting wetter. (due to the tears of those losing homes and jobs)
Meanwhile in a related story, one which flys in the face of WT27 and claims of a rosy and healthy picture for the Nation, it seems The San Joaquin bank went bye bye, making the total so far this year 99 failed banks.
Hmm..99 this year, as opposed to 25 last year...hmm...
The bank failure will cost the FDIC somewhere in the area of 103 million dollars. (and remember folks, it is the taxpayer who supplies money towards the FDIC, in one way or another)
http://www.nytimes.com/aponline/2009/10/16/business/AP-US-Bank-Closures.html
"The 99 failures may not fully reflect the depth of banks' travails. Many more banks -- perhaps hundreds -- are so weak they could have been shut down already, experts say. Many vulnerable banks are in limbo. Regulators have threatened to close them unless they shore up their balance sheets, but the recession has made it difficult to raise capital or sell assets."
Ev'rybody let's all join in and sing:
99 banks have failed this year
99 banks have failed
You shut one down
then sell it around
monopolize all of them now.
Everybody now-
99 banks have failed this year,
99 banks have failed
As one shuts down
some tell of rebound
yet the economy still is southbound...
Yes, 99 banks have failed this year
99 banks have failed,
depositors know
it's them who'll go
much deeper in debt at tax time.
99 banks have failed this year,
they say there be some more
the left they all cry
'twas Bush who drank rye
that caused the chaotic flow.
So, 99 banks which have failed this year
the managers have all been fired
but the President says
The economy's better
although it keeps getting wetter. (due to the tears of those losing homes and jobs)
