Sunday, February 28, 2010

Saturday, February 27, 2010

Tough shit

"Tough shit" is what Retiring Sen. Jim Bunning, R-Kentucky said to Oregon Senator Jeff Merkley, as Sen. Jeff Merkley, D-Oregon, criticized Bunning's stance on the package.
The Senate adjourned Friday without approving extensions of cash and health insurance benefits for the unemployed after this lone senator blocked swift passage due to his insistence that Congress first pay for the $10 billion package. Bunning said he doesn't oppose extending the programs -- he just doesn't want to add to the deficit.

Bunning is a bona fide "Party of No" cardholder.... a quick look at his voting record (Project Vote Smart), shows he has the classic "Go F__k yourself" attitude.

He voted NO on the following items:
Housing foreclosure assistance programs
GI Bill
SCHIP- Children's health care programs
Farm Security & Rural investment act
Labor, Health & Human services & Education appropriations
Cut funding for new F-22 aircraft
Timeline for withdrawal from Iraq
Iraq Troop reduction
Time between Troop redeployments
Stem Cell Research
Campaign finance reform
Alternative energy tax incentives
Family/Medical leave (FMLA)
Gay Marriage
Lily Ledbetter Pay Act (Equal pay)
Habeas Corpus rights for Detainees

He voted YES on the following items:

Iraq & Afghanistan war funding
Welfare reform
Defense authorizations
Iraq War
Prohibiting funds for groups that perform abortions

Bunning is a neanderthal who votes NO for anything good, and votes YES for all the negative.
He would deny funding those on the brink of foreclosure, and who are jobless without healthcare, and need COBRA payment assistance- all the while funding war.

In a great editorial in my local newspaper today, members of WAND ask these questions:

• Why freeze funds for domestic needs when people are suffering from high unemployment & huge medical costs?

• Why does the Pentagon need 1,000 bases overseas at an annual cost of $250 billion?
(There is the $10 billion needed for unemployment, sir!)

• Why maintain & upgrade 10,800 nuclear weapons while we chastise & threaten other countries for developing them?

The editorial continues....

"Larry Korb, former assistant secretary of defense under Ronald Reagan, has identified $60 billion in the Pentagon budget that could be eliminated just by discontinuing production & maintenance of outdated Cold War weaponry. Retired Army Col. Andrew Bacevich has suggested cutting U.S. military spending to that of the next 10 highest spending countries combined, a 31% reduction. "

The next time some party of no says there is no funding for domestic programs, ask them just how much they voted YES for in the military budget. It's no secret we are billions short of funding the needs of our country-- military spending takes a 55% bite out of our budget.

Pay attention, old man

I must say, I do like Obama's one liners.
Not surprisingly, the GOP's lockstep theme of the day was "scrap the plan" "start over".... one GOPper even offered a blank piece of paper.

That is the most frustrating aspect of the party of no-- they are great with obstructionist tactics, but when you get down to it,
they have nothing to offer. After all these months, they have nothing.

Let's face it- if we wait for the GOP to be onboard, Health Care reform will NEVER happen.

Reconciliation full steam ahead!

Oh! And about that evil Socialism element, Durbin has a solution

Wednesday, February 24, 2010

Whale of a problem

Exhibit A:

Seriously-- who could blame the Killer Whales for wanting to toss one of these jumping, & clapping like a seal, staffers?
Killer Whales are wild ocean living mammals who are highly sensitive & intelligent, mammals with highly sensitive hearing & sonar.

I hope Tillicum the Whale is retired from the circus performing business, and allowed to live in a more
natural setting.
Watch this clip-- I don't think it's an accident!

Here is a link to an excellent article:

bearing it....

I feel like this bear on it's back, (only w foot propped up on a pillow!)
Very hard to be productive in this position.

A big one finger salute to Blue Cross/BS for telling me they have a new program where I am supposed to print up my own forms to submit for reimbursement of pre tax medical expenses.

Oh hell no! I will not be paying to print up forms.
" The insurer paid 39 senior executives $1 million each in 2008 and spent $27 million on 103 executive retreats in 2007 and 2008." Not only did I not go on any corporate retreats, I was on a 2 year pay freeze. Furthermore, Florida BC/BS experienced a $550 million dollar profit in 2008.
Print your own damned forms!

Sunday, February 21, 2010

literally laid up...

The after hours Doctor said it is Stasis Dermatitis. He put me on a huge dose of Cipro antibiotic & said I must MUST remain flat on my back, with the lower leg propped up higher than my heart. That gets old fast. I could do that while on the couch & watch the Olympics- caught the Women's ariel wipe out event yesterday. It is supposed to be in the 50's again in the Pacific NW, so they have some pretty sloppy, funky snow to deal with.

Anyway, the laptop on the belly in this leg up position is strange, so I am going light on the blogging.

"Tawk amongst yourselves.... I'll give you a topic... the meaning of life.... discuss"
SNL fans will understand!

Friday, February 19, 2010

The Grinch Memo

Just when I thought it could not get worse.... we get this memo today, saying "although the office will be closed on Christmas & New Year's days, they will not be considered holidays."
Meaning no holiday pay.

We've been Grinched!!!

No! Read the next post-- we've been DOUBLE GRINCHED.

How low can morale go????

Wednesday, February 17, 2010

take this job & shove it

After a two year pay freeze, the corporation finally gave us a pay raise.

.19 cents an hour.
During this time, the company spent over 3 BILLION in new developments & acquisitions.

Tuesday, February 16, 2010

Monday, February 15, 2010

Canada Oh Canada!

Wow! Did you catch the opening ceremonies of the Olympics?
I loved the Whale segment & the Riverdance/stomp presentation.

Hope it continues to be a great festival of extreme sports, and International goodwill.

Sunday, February 14, 2010

What is Love?

Just stumbled on this artist~ seemed appropriate for Valentines Day.

Spread the love

Friday, February 12, 2010

Farewell old friend...

Never thought this day would arrive. My Mom's house has finally sold. It took almost 2 years to sell it, awash in a sea of foreclosed homes. It is a place we moved to when I was 5 years old. My Mom still lived there till a few years ago when too many health issues landed her in a care facility- not her own choice, but a necessary one none the less. The place is full of memories for me. When we first moved there the lot next door was an empty, grassy field, except for a garage. Our own back yard had a hand made stone bbq, and a wishing well- full sized w 2 wooden pillars and a conical roof. Over the years the wood rotted, so the roof & pillars had to go, but the stone base of the well remained-- Mom wound up using it as a giant planter. As a kid I remembered planting flowers in the yard, and when we first moved there, we saw a few wild rabbits running around in the yard. It seemed huge to me as a kid... a vast expanse of space to play & run around in. One magical winter, we had a big snowfall, a flash warm spell and then a hard freeze. Without doing a thing ourselves-- Mother Nature had created our own personal ice skating rink right in my own back yard. Of course I put on my ice skates & enjoyed the gift.

Usually, when they knew it would freeze, the local park would run a hose in the baseball field to create an ice skating place. There we could do a thing we called crack the whip.... get a chain of people holding hands & build up speed.... the end skater getting a rather wild ride.
No triple Lutz action for me... if I could just skate around & not fall, I was triumphant!
Besides it was freezing cold out there (thus the ice), so you had to bundle up, so you could stay out in it longer. Still, being able to skate in the yard was a thrill.

I remember making hop skotch boards w chalk, in the summers, and skateboards were the latest greatest thing.
Nothing like the fancy stuff they have now w shock absorbers & such. Ours were crude wooden boards with the traditional metal skate wheels on them. We would whiz back & forth on the smooth paved sidewalk in the yard. We had a pyramid staircase entrance on the side of the house, so we would go full speed ahead, to get a resounding crash into the lowest cement stair.
Oh yea, that empty lot next door was purchased & someone built a 2 story apartment there.
I remember us having our skateboarding fun, when the new neighbor opened her 2nd story window to yell as us kids to be quiet.
My Mom yelled back- We bought this house so our kids can have a yard to play in!

We'd just moved out of a 2 story apartment that her Mother had owned & lived in below us & called all the shots on.
She was free at last & not going to take it anymore. Right on Mom!
We were there first, and the new neighbor knew kids lived in the house where she chose to move in to.
Kids need to play & they sometimes make noise in the daytime, get over it!

I used to make candles in the basement. We had a home made ping pong table, and used to play no rules ping pong. My Sister & I used to go into the medicine cabinet & be mad scientists... mixing different stuff to see how it would chemically react. In my teen rebellion years, I moved up to the partially finished (but not insulated) attic. I painted it a pale yellow.
It was hot in the summer, and cold in the winter- but it was my own space. Back in the day, there was a huge crab apple tree right outside the back window.... it had beautiful blossoms on it in the spring.

Time marched on, and eventually, many of the single family, single car homes, became multiple family, multiple vehicle homes. Parking was a nightmare. Mom had a garage built.
By now, the yard was not looking so big to me, but the garage ate up most of the yard. Sentimental one, my Mom had the builder take the backhoe & move the wishing well to the corner of the grass closest to the house. The last few times I visited the house, I planted flowers in that wishing well.
As much as the garage was now a necessity, it was unattached from the house, so it was kind of a security risk. It was good Mom no longer had to scrape ice & snow off the car, or worry about the car being vandalized.... but not an optimal scenario. The neighborhood was changing.
In fact the time before last that I did visit, the neighbors had hung up their laundry on the chain link fence. (What.. too much to invest in a clothes line?) The next door neighbors had torn out the extensive flower gardens the neighbor used to have in their yard, and paved it over to park several cars in the yard. Apparently they had large gatherings with lots of Corona beer, because Mom's rose beds were full of beer bottle caps. Oh & the loud spanish music- right outside the back bedroom window. Yes, things had really changed.
Mom's flowers are still blooming, all these years later. The wishing well still holds flowers & well wishes. But the yard and those childhood memories will never be the same. You can visit on old place, but not bring it back.
I hope the house has new breath of life. I hope the new owners plant flowers in the wishing well, and that someone discovers the sheer joy and peace of sitting on the front room radiator cover on a cold winter night, in the dark & quiet, watching the beautiful snow fall under the light of the lamp post. Farewell old friend...

Wednesday, February 10, 2010

Fiore Funnies


May as well go enjoy a good snowball fight.!

Tuesday, February 9, 2010

If he only had a brain

WaPO reports this gem:

"If Obama doesn’t scrap the existing health-care reform bills, leading House Republicans have said they won't participate in the president's upcoming, televised health-care summit. In a letter to Rahm Emanuel, House Minority Leader John A. Boehner and Minority Whip Eric Cantor expressed frustration at reports that Obama intends to put the Democratic bills on the table for discussion at the Feb. 25 summit. "If the starting point for this meeting is the job-killing bills the American people have already soundly rejected, Republicans would rightly be reluctant to participate," Boehner and Cantor wrote. "'Bipartisanship' is not writing proposals of your own behind closed doors, then unveiling them and demanding Republican support." White House Press Secretary Robert Gibbs responded by saying that Obama has sought Republican input since early last year, and the president remains interested in hearing ideas that the GOP believe will advance the cause of health-care reform. HHS Secretary Kathleen Sebelius said Obama is "absolutely not" scrapping the bills."

The GOP is not even going to pretend like they are coming to the table to discuss health care reform.
How pathetic is that? This stalemate helps no one. The GOP says scrap the plan, not only do they bring nothing to the table to propose, now they are threatening to not even come to the table.
How about this-- If Bonehead & CAN'Tor are unwilling to discuss health care refom, bring in Dr. Flowers to discuss her ideas about public option as a physician representing 17,000 Doctors who have a plan (and a clue!). She's been begging to have the public option be a part of the discussion, and has a comprehensive plan proposal.
(Scroll down to read "The Doctor is in.... jail" to read her letter to Obama.)

Monday, February 8, 2010

Favorite Superbowl ads

Usually mute all commercials.... but the
superbowl is a superbowl of creative ads. Here are my favorites:

Oooh ! A cameo w Spider pig on the swing.

Oooh la la-- very cute.

The Government spent $2.5 million on this spot....
Worth it?

Your thoughts on this one? I thought this might have been one of the worst.

Sunday, February 7, 2010

16 banks have failed in far

Here is the list of the 16 Banks that failed in 2010, & the FDIC took over:

Bank Name




Closing Date

Updated Date

1st American State Bank of MinnesotaHancockMN15448February 5, 2010February 5, 2010
American Marine BankBainbridge IslandWA16730January 29, 2010February 3, 2010
First Regional BankLos AngelesCA23011January 29, 2010February 3, 2010
Community Bank and TrustCorneliaGA5702January 29, 2010February 3, 2010
Marshall Bank, N.A.HallockMN16133January 29, 2010February 3, 2010
Florida Community BankImmokaleeFL5672January 29, 2010February 3, 2010
First National Bank of GeorgiaCarrolltonGA16480January 29, 2010February 3, 2010
Columbia River BankThe DallesOR22469January 22, 2010February 2, 2010
Evergreen BankSeattleWA20501January 22, 2010February 2, 2010
Charter BankSanta FeNM32498January 22, 2010February 2, 2010
Bank of LeetonLeetonMO8265January 22, 2010February 2, 2010
Premier American BankMiamiFL57147January 22, 2010February 2, 2010
Barnes Banking CompanyKaysvilleUT1252January 15, 2010February 3, 2010
St. Stephen State BankSt. StephenMN17522January 15, 2010January 26, 2010
Town Community Bank & TrustAntiochIL34705January 15, 2010January 26, 2010
Horizon BankBellinghamWA22977January 8, 2010January 12, 2010

Failed Bank List 2009 ~ 140 Banks Failed

First Federal Bank of California, F.S.B.Santa MonicaCA28536December 18, 2009December 23, 2009
Imperial Capital BankLa JollaCA26348December 18, 2009December 23, 2009
Independent Bankers' BankSpringfieldIL26820December 18, 2009January 14, 2010
New South Federal Savings BankIrondaleAL32276December 18, 2009December 23, 2009
Citizens State BankNew BaltimoreMI1006December 18, 2009January 8, 2010
Peoples First Community BankPanama CityFL32167December 18, 2009December 23, 2009
RockBridge Commercial BankAtlantaGA58315December 18, 2009December 22, 2009
SolutionsBankOverland ParkKS4731December 11, 2009December 15, 2009
Valley Capital Bank, N.A.MesaAZ58399December 11, 2009December 15, 2009
Republic Federal Bank, N.A.MiamiFL22846December 11, 2009December 15, 2009
Greater Atlantic BankRestonVA32583December 4, 2009December 15, 2009
Benchmark BankAuroraIL10440December 4, 2009December 8, 2009
AmTrust BankClevelandOH29776December 4, 2009December 8, 2009
The Tattnall BankReidsvilleGA12080December 4, 2009December 15, 2009
First Security National BankNorcrossGA26290December 4, 2009December 8, 2009
The Buckhead Community BankAtlantaGA34663December 4, 2009December 15, 2009
Commerce Bank of Southwest FloridaFort MyersFL58016November 20, 2009December 15, 2009
Pacific Coast National BankSan ClementeCA57914November 13, 2009November 18, 2009
Orion BankNaplesFL22427November 13, 2009December 15, 2009
Century Bank, F.S.B.SarasotaFL32267November 13, 2009December 15, 2009
United Commercial BankSan FranciscoCA32469November 6, 2009November 9, 2009
Gateway Bank of St. LouisSt. LouisMO19450November 6, 2009November 9, 2009
Prosperan BankOakdaleMN35074November 6, 2009November 9, 2009
Home Federal Savings BankDetroitMI30329November 6, 2009December 15, 2009
United Security BankSpartaGA22286November 6, 2009December 15, 2009
North Houston BankHoustonTX18776October 30, 2009November 3, 2009
Madisonville State BankMadisonvilleTX33782October 30, 2009November 3, 2009
Citizens National BankTeagueTX25222October 30, 2009November 3, 2009
Park National BankChicagoIL11677October 30, 2009November 3, 2009
Pacific National BankSan FranciscoCA30006October 30, 2009November 3, 2009
California National BankLos AngelesCA34659October 30, 2009November 3, 2009
San Diego National BankSan DiegoCA23594October 30, 2009November 3, 2009
Community Bank of LemontLemontIL35291October 30, 2009November 3, 2009
Bank USA, N.A.PhoenixAZ32218October 30, 2009November 3, 2009
First DuPage BankWestmontIL35038October 23, 2009November 3, 2009
Riverview Community BankOtsegoMN57525October 23, 2009November 3, 2009
Bank of ElmwoodRacineWI18321October 23, 2009November 3, 2009
Flagship National BankBradentonFL35044October 23, 2009October 29, 2009
Hillcrest Bank FloridaNaplesFL58336October 23, 2009October 28, 2009
American United BankLawrencevilleGA57794October 23, 2009October 28, 2009
Partners BankNaplesFL57959October 23, 2009October 28, 2009
San Joaquin BankBakersfieldCA23266October 16, 2009October 21, 2009
Southern Colorado National BankPuebloCO57263October 2, 2009October 20, 2009
Jennings State BankSpring GroveMN11416October 2, 2009October 20, 2009
Warren BankWarrenMI34824October 2, 2009October 20, 2009
Georgian BankAtlantaGA57151September 25, 2009October 13, 2009
Irwin Union Bank, F.S.B.LouisvilleKY57068September 18, 2009September 22, 2009
Irwin Union Bank and Trust CompanyColumbusIN10100September 18, 2009September 22, 2009
Venture BankLaceyWA22868September 11, 2009November 23, 2009
Brickwell Community BankWoodburyMN57736September 11, 2009November 23, 2009
Corus Bank, N.A.ChicagoIL13693September 11, 2009November 23, 2009
First State BankFlagstaffAZ34875September 4, 2009November 23, 2009
Platinum Community BankRolling MeadowsIL35030September 4, 2009November 23, 2009
Vantus BankSioux CityIA27732September 4, 2009November 23, 2009
InBankOak ForestIL20203September 4, 2009November 23, 2009
First Bank of Kansas CityKansas CityMO25231September 4, 2009November 23, 2009
Affinity BankVenturaCA27197August 28, 2009November 23, 2009
Mainstreet BankForest LakeMN1909August 28, 2009November 23, 2009
Bradford BankBaltimoreMD28312August 28, 2009November 23, 2009
Guaranty BankAustinTX32618August 21, 2009February 3, 2010
CapitalSouth BankBirminghamAL22130August 21, 2009November 23, 2009
First Coweta BankNewnanGA57702August 21, 2009November 23, 2009
ebankAtlantaGA34682August 21, 2009November 23, 2009
Community Bank of NevadaLas VegasNV34043August 14, 2009November 23, 2009
Community Bank of ArizonaPhoenixAZ57645August 14, 2009November 23, 2009
Union Bank, National AssociationGilbertAZ34485August 14, 2009November 23, 2009
Colonial BankMontgomeryAL9609August 14, 2009November 23, 2009
Dwelling House Savings and Loan AssociationPittsburghPA31559August 14, 2009November 23, 2009
Community First BankPrinevilleOR23268August 7, 2009November 23, 2009
Community National Bank of Sarasota CountyVeniceFL27183August 7, 2009November 23, 2009
First State BankSarasotaFL27364August 7, 2009November 23, 2009
Mutual BankHarveyIL18659July 31, 2009November 23, 2009
First BankAmericanoElizabethNJ34270July 31, 2009November 23, 2009
Peoples Community BankWest ChesterOH32288July 31, 2009November 23, 2009
Integrity BankJupiterFL57604July 31, 2009November 23, 2009
First State Bank of AltusAltusOK9873July 31, 2009November 23, 2009
Security Bank of Jones CountyGrayGA8486July 24, 2009November 23, 2009
Security Bank of Houston CountyPerryGA27048July 24, 2009November 23, 2009
Security Bank of Bibb CountyMaconGA27367July 24, 2009November 23, 2009
Security Bank of North MetroWoodstockGA57105July 24, 2009November 23, 2009
Security Bank of North FultonAlpharettaGA57430July 24, 2009November 23, 2009
Security Bank of Gwinnett CountySuwaneeGA57346July 24, 2009November 23, 2009
Waterford Village BankWilliamsvilleNY58065July 24, 2009November 23, 2009
Temecula Valley BankTemeculaCA34341July 17, 2009November 23, 2009
Vineyard BankRancho CucamongaCA23556July 17, 2009November 23, 2009
BankFirstSioux FallsSD34103July 17, 2009November 23, 2009
First Piedmont BankWinderGA34594July 17, 2009November 23, 2009
Bank of WyomingThermopolisWY22754July 10, 2009November 23, 2009
Founders BankWorthIL18390July 2, 2009November 23, 2009
Millennium State Bank of TexasDallasTX57667July 2, 2009November 23, 2009
First National Bank of DanvilleDanvilleIL3644July 2, 2009November 23, 2009
Elizabeth State BankElizabethIL9262July 2, 2009November 23, 2009
Rock River BankOregonIL15302July 2, 2009November 23, 2009
First State Bank of WinchesterWinchesterIL11710July 2, 2009November 23, 2009
John Warner BankClintonIL12093July 2, 2009November 23, 2009
Mirae BankLos AngelesCA57332June 26, 2009November 23, 2009
MetroPacific BankIrvineCA57893June 26, 2009November 23, 2009
Horizon BankPine CityMN9744June 26, 2009November 23, 2009
Neighborhood Community BankNewnanGA35285June 26, 2009November 23, 2009
Community Bank of West GeorgiaVilla RicaGA57436June 26, 2009November 23, 2009
First National Bank of AnthonyAnthonyKS4614June 19, 2009November 23, 2009
Cooperative BankWilmingtonNC27837June 19, 2009November 23, 2009
Southern Community BankFayettevilleGA35251June 19, 2009November 23, 2009
Bank of LincolnwoodLincolnwoodIL17309June 5, 2009November 23, 2009
Citizens National BankMacombIL5757May 22, 2009November 23, 2009
Strategic Capital BankChampaignIL35175May 22, 2009November 23, 2009
BankUnited, FSBCoral GablesFL32247May 21, 2009November 23, 2009
Westsound BankBremertonWA34843May 8, 2009November 23, 2009
America West BankLaytonUT35461May 1, 2009November 23, 2009
Citizens Community BankRidgewoodNJ57563May 1, 2009November 23, 2009
Silverton Bank, NAAtlantaGA26535May 1, 2009November 23, 2009
First Bank of IdahoKetchumID34396April 24, 2009November 23, 2009
First Bank of Beverly HillsCalabasasCA32069April 24, 2009November 23, 2009
Michigan Heritage BankFarmington HillsMI34369April 24, 2009November 23, 2009
American Southern BankKennesawGA57943April 24, 2009November 23, 2009
Great Basin Bank of NevadaElkoNV33824April 17, 2009November 23, 2009
American Sterling BankSugar CreekMO8266April 17, 2009November 23, 2009
New Frontier BankGreeleyCO34881April 10, 2009December 23, 2009
Cape Fear BankWilmingtonNC34639April 10, 2009November 23, 2009
Omni National BankAtlantaGA22238March 27, 2009November 23, 2009
TeamBank, NAPaolaKS4754March 20, 2009November 23, 2009
Colorado National BankColorado SpringsCO18896March 20, 2009November 23, 2009
FirstCity BankStockbridgeGA18243March 20, 2009November 23, 2009
Freedom Bank of GeorgiaCommerceGA57558March 6, 2009November 23, 2009
Security Savings BankHendersonNV34820February 27, 2009November 23, 2009
Heritage Community BankGlenwoodIL20078February 27, 2009November 23, 2009
Silver Falls BankSilvertonOR35399February 20, 2009November 23, 2009
Pinnacle Bank of OregonBeavertonOR57342February 13, 2009November 23, 2009
Corn Belt Bank & Trust Co.PittsfieldIL16500February 13, 2009November 23, 2009
Riverside Bank of the Gulf CoastCape CoralFL34563February 13, 2009November 23, 2009
Sherman County BankLoup CityNE5431February 13, 2009November 23, 2009
County BankMercedCA22574February 6, 2009November 23, 2009
Alliance BankCulver CityCA23124February 6, 2009November 23, 2009
FirstBank Financial ServicesMcDonoughGA57017February 6, 2009November 23, 2009
Ocala National BankOcalaFL26538January 30, 2009November 23, 2009
Suburban FSBCroftonMD30763January 30, 2009November 23, 2009
MagnetBankSalt Lake CityUT58001January 30, 2009November 23, 2009
1st Centennial BankRedlandsCA33025January 23, 2009November 23, 2009
Bank of Clark CountyVancouverWA34959January 16, 2009November 23, 2009
National Bank of CommerceBerkeleyIL19733January 16, 2009November 23, 2009

Reuters reports:

FDIC’s problem bank list grows to 552, DIF now negative

FDIC published its quarterly banking profile today. Here are the latest banking industrystatistics at a glance. A few interesting takeaways I’d like to highlight. First, the problem bank list grew again. And it still understates total problem assets…both Citi and Bank of America should also be on this list.

The number of institutions on the FDIC’s “Problem List” rose to its highest level in 16 years. At the end of September, there were 552 insured institutions on the “Problem List,” up from 416 on June 30. This is the largest number of “problem” institutions since December 31, 1993, when there were 575 institutions on the list. Total assets of “problem” institutions increased during the quarter from $299.8 billion to $345.9 billion, the highest level since the end of 1993, when they totaled $346.2 billion. Fifty institutions failed during the third quarter, bringing the total number of failures in the first nine months of 2009 to 95.

Also, what will get lots of headlines today is that the Deposit Insurance Fund went negative as of September 30th. We already knew this to be true, and it’s not totally fair to report the negative balance without noting that FDIC does have cash. That said, the DIF is still in a very precarious position.

As projected in September, the FDIC’s Deposit Insurance Fund (DIF) balance – or the net worth of the fund – fell below zero for the first time since the third quarter of 1992. The fund balance of negative $8.2 billion as of September already reflects a $38.9 billion contingent loss reserve that has been set aside to cover estimated losses over the next year. Just as banks reserve for loan losses, the FDIC has to set aside reserves for anticipated closings over the next year. Combining the fund balance with this contingent loss reserve shows total DIF reserves with a positive balance of $30.7 billion.

Chairman Bair distinguished the DIF’s reserves from the FDIC’s cash resources, which stood at $23.3 billion of cash and marketable securities.To further bolster the DIF’s cash position, the FDIC Board approved a measure on November 12th to require insured institutions to prepay three years worth of deposit insurance premiums – about $45 billion – at the end of 2009. “This measure will provide the FDIC with the funds needed to carry on with the task of resolving failed institutions in 2010, but without accelerating the impact of assessments on the industry’s earnings and capital,” Chairman Bair said.

The DIF will continue to be negative after FDIC gets the additional $45 billion at the end of 2009. That’s not a “special assessment,” it’s the next three years’ regular assessments being collected up front. The distinction is crucial. Because it’s a regular assessment, FDIC won’t count it as new reserves for the DIF. Instead it will be counted as deferred revenue on the DIF’s balance sheet.

Why is that important? Because unlike the $5.6 billion special assessment in Q2, banks don’t have to take a hit against their capital all at once for this assessment. They get to treat it as a prepaid expense.

Although they tell us the FDIC fully insures bank accounts. The standard insurance amount currently is $250,000 per depositor.

All well & good, but at this rate & at some point the FDIC insurance $ well will run dry.

Maybe the mattress industry would do well to invent a fireproof safe/vault built into mattresses to avoid losing it all in failed banks that eventually result in a failed FDIC?

Potential names for this new mattress style:

Safe Sleep

$weet Dream$

The "Bank on It"

The Bailout