dailykos.com — I called the death of Indymac on July 7th. The FDIC seized Indymac on July 11th. I called the implosion of the 2 Gov't Sponsored Entities in the mortgage biz, Fannie Mae and Freddie Mac on July 9th. Sun, July 13th the White House announced a bailout for them. Want to know what happens next? It?s ape ass ugly and it?s going to happen to you
Jul 20, 2008 View in Crawl 4
Closed AccountJul 21, 2008
Get Obama and there will be a run on the banks!!!!
Closed AccountJul 22, 2008
have you gotten in the streets yet? how about a single protest, anything?yeah didn't think so, but hey posting on the internet is a safe way to show outrage
jakkylJul 22, 2008
hmmmmm...... not really. Think you need to go back to school there Jr.
Closed AccountJul 22, 2008
But isn't the biggest worry now a possible stampede away from the dollar by the US population? If the Fed and Politicians keep driving the dollar further down, people may trade for stronger currencies even at very high exchange rates. Has this kind of thing happened earlier in history?
gr00vyJul 23, 2008
Um Jakkyl... Massive destruction of wealth caused by bank failure (not everything is insured, insurance isn't vast enough for 8500 banks), would make the remaining dollars worth more, you know, like the depression.Try again... AND STOP WITH THE Jr. Bulls**t
timelessssJul 23, 2008
Many banks are under-capitalized and would follow the faith of Indymac; but I don't think the number will be that many (8,500)
digg072008Jul 26, 2008
Senate DEMOCRATS gave final passage to a broad package of housing legislation, hoping to send a calming message to markets and voters amid the deterioration of the housing market and a growing number of bank failures. Note the Democratically controlled legislative branch, still sitting at around 18 % approval ratings, SPENDS our TAX money again and increases their SPENDING limits AGAIN. The Democrats have been wise to blaim Bush for everything, since anyone who looks at the legislative branch will see why the Democrats do NOT want tax payers, particularly the younger crowd, to see their future being mortgaged into more future generations.. One way Democrats plan to hide their legislative mess to now BUY votes.... While Obama flips flops around to "sweet talk" the youngsters out of their future .. A future paying for all Obamas' promises ..
clonestarJan 31, 2009
The FDIC does not have the assets to even begin to cover a systemic failure of U.S. banking. As far as the government "stepping in" to "save" the financial system, the FDIC *is* government. No entity can save a broad systemic failute of the U.S. fractional reserve banking system, no matter how much baseless fiat currency they print. As long as fractional reserve banking exists, those banks are subject to having their genuine financial condition being tested by depositors.