FDIC Operating in the Red - 30 Banks Shut Down in 2010

Discussion in 'Politics' started by Trinity, Mar 18, 2010.

  1. Trinity

    Trinity New Member

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    The FDIC Shut down it's 30th Bank for 2010 and is operating with a deficit.

    CBS News
     
  2. B_starinvestor

    B_starinvestor New Member

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    over 140 failed last year.

    They'll keep dropping like flies for the next 2 years.

    Evil bastards. Loaning money to people.

    The tellers, etc should be burned at the stake. Can't believe people came in asking for loans and they got them.

    The part about "I promise to repay this" was a cruel and nasty thing to ask.
     
  3. justasimpleguy

    justasimpleguy Active Member

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    Actually we haven't even gotten halfway through banks collapsing, sadly. The commercial real estate crisis is set to hit us next. Billions and Billions in mortgages and loans for office and business spaces coming due in the next two years and no way to pay it. Get ready for empty malls and offices. Get ready for probably hundreds of mid-size banks that are over-concentrated in commercial real estate to go under. It's going to be ugly.
     
  4. midlifebear

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    justasimpleguy speaks the truth. Last week the the Scotch Tape Store closed in the Wells, Nevada, mall. It was next to Judy's Things' n Stuff, which closed two months ago. Now Well-ites have no place to buy scotch tape or "stuff." It's real sad. :frown1:

    It isn't a recession, it's a big ol' fashioned depression! :frown1::frown1:
     
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