9 banks in one week, even if they were all part of the same holding company, is a lot. However, the CNN link buried the lead, which IMO is:"This year's failures have already reduced the FDIC's insurance fund to below $10 billion from $45 billion a year ago. Friday's closure will cost the FDIC an estimated $2.5 billion."After factoring in expected closures, the agency says its insurance fund is in the red and will remain there through 2012. Over the next four years, the agency expects bank closures will cost $100 billion."In the red through '12? Bad campaign slogan: Get back in the black in '13!
AAAAAAAAARRRRRRRRRRRRRRRRRRR(Blood curdling scream)
By the way, didn't BUSH up the amount of money insured by the FDIC to $250,000 to prove that the US financial system is .... stable?Yea right! At some point they will shrug & sayOoops! Guess not.
FDIC coverage was increased to $250K and "coincidentally" that increase expires in 2012! ps, loved the wolf howl ... we hear lots of coyotes around the SW, but no wolves (that I know of, at least not outside Hollywood).
Technology really has become one with our daily lives, and I can say with 99% certainty that we have passed the point of no return in our relationship with technology.I don't mean this in a bad way, of course! Societal concerns aside... I just hope that as memory gets cheaper, the possibility of uploading our brains onto a digital medium becomes a true reality. It's a fantasy that I daydream about all the time.(Posted on Nintendo DS running [url=http://knol.google.com/k/anonymous/-/9v7ff0hnkzef/1]R4 Card[/url] DS NetBlog)
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