Assyrian Horn: FDIC Planning For Huge Bank Failure?

Wednesday, May 13, 2009

FDIC Planning For Huge Bank Failure?

The truth is, the FDIC has been requesting more and more money even before this story has come out. There is only one reason that the FDIC needs so much money- something is coming.

This falls right in line with my recommendation to hold some cash at home.

Here is the new story: http://pragcap.com/fdic-planning-for-huge-bank-failure

Add to that the fact that April foreclosures jumped 32% from April 2008 (which was already high), retail sales unexpectedly dropped in April, and unemployment numbers were unexpectedly higher (even with the skewed unemployment calculations of today).

Here are those stories if you want to see them:
http://news.yahoo.com/s/nm/20090513/ts_nm/us_usa_housing_foreclosures_3
http://finance.yahoo.com/news/Retail-sales-drop-apf-15228755.html
http://www.mybudget360.com/24700000-unemployed-or-underemployed-americans-job-losses-accelerate-with-6-million-unemployed-over-last-year-real-unemployment-rate-now-at-158-percent/

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- President John Adams, June 21, 1776
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George Washington

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All the rights secured to the citizens under the Constitution are worth nothing, and a mere bubble, except guaranteed to them by an independent and virtuous Judiciary.

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Wednesday, May 13, 2009

FDIC Planning For Huge Bank Failure?

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