Instead of an improving economy, it is worsening. Instead of an economic recovery, we face economic ruin. It is called meltdown 101 and although we spent billion on TARP for the bankers. Hey, guess what, bank struggles are worse. In 2007 only three banks went under, but this year near ninety were taken over by the FDIC. Sadly, so many bankrupt banks have gone under that the FDIC that insures our money is now out of money itself. FDIC may need a bailout this year just like the bankers.
Sunday, August 30, 2009
Meltdown 101
Instead of an improving economy, it is worsening. Instead of an economic recovery, we face economic ruin. It is called meltdown 101 and although we spent billion on TARP for the bankers. Hey, guess what, bank struggles are worse. In 2007 only three banks went under, but this year near ninety were taken over by the FDIC. Sadly, so many bankrupt banks have gone under that the FDIC that insures our money is now out of money itself. FDIC may need a bailout this year just like the bankers.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment