Okay - so I'm watching the news this weekend and found a story on 5 more banks closing down .... hey I thought Obama's plan was supposed to stop all this?
2 in CA, 2 in GA, and 1 in MN. They are supposed to be smaller regional banks, but they are FDIC insured -- those aren't supposed to fail!
So what does this mean?
Well here's some stats they gave:
45 FDIC banks have busted so far this year (and the year is only 1/2 over)
25 FDIC banks busted in 2008
3 FDIC banks closed in 2007
So how the heck has Obama's plan helped? Actually from what I can tell it would not matter who was in office at the time .... these banks hold the loans of many commercial companies in the area and when those companies go belly up, they loans go into default.
Click to join MonthlyDishcloths
No comments:
Post a Comment