117 Banks in Danger of going Belly Up!

SONOFABUSH! The list gets longer and longer! This from cnnmoney:

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Problem bank list keeps growing

FDIC says list of troubled banks in 2nd quarter grows to 117 with $78 billion in assets – up from 90 banks, $26 billion in assets in 1st quarter.

By David Ellis and Tami Luhby, CNNMoney.com staff writers

Last Updated: August 26, 2008

NEW YORK (CNNMoney.com) — The number of troubled banks on the government’s watch list grew dramatically last quarter.

The Federal Deposit Insurance Corp. reported Tuesday that the number of firms on its so-called problem bank list grew to 117 during the second quarter – its highest level since the middle of 2003. There were 90 banks on the problem list in the first quarter.

FDIC Chairman Sheila Bair expressed little surprise at the increase and warned that the number would grow.

“More banks will come on the list as credit problems worsen and assets of problem institutions will continue to rise,” said Bair in a press conference.

The number of troubled institutions has moved steadily higher this year – nearly doubling from 61 at the same time a year ago – as banks across the country struggle to cope with the fallout in the housing market and rising loan losses.

Problem banks typically face difficulties with their finances, or are suffering through operations or management issues that pose a threat to their existence.

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This is what a modern bank run looks like!

This is what a modern bank run looks like!

DAGNABIT! There have been nine failures so far this year. It’s anyone’s guess how many more will fail. We may ALL wind up looking like the poor indymac bank customers pictured above. This is the worst economy I’ve seen in my fifty years of life. There simply is no end to the bad news. Whether it’s the dow, or the price of health care, food, gas and EVERYTHING ELSE going UP, UP, UP. Be it rising unemployment, or home forecloses. There just isn’t any GOOD ECONOMIC NEWS!

How many of US will end up living like THIS?

How many of US will end up living like THIS?

YOU have to remember WHO has been running this country into the ground for DECADES! It is the dirty dems AND filthy repubs! YOU have to understand that voting one of the syphilitic co-joined twins of the apocalypse called mcbama in, WILL NOT MAKE A CHANGE! THEY ARE BOTH GOING TO CONTINUE THE DISASTERS!

Watch this video! I couldn’t have said it better then this video does!

There is only one presidential candidate who offers US REAL CHANGE! Support and vote for NADER!

VOTENADER.ORG

The Telepathic Crickets™ on the ClapSotronics editorial board and I hope you have the address of YOUR local soup kitchen. If mcbama takes the oval office, YOU WILL NEED IT!

Don’t forget to stop by our satirical sister blog:

The Intergalactic Times

The scientifically impossible I do right away

The spiritually miraculous takes a bit longer

~ by ClapSo on August 27, 2008.

6 Responses to “117 Banks in Danger of going Belly Up!”

  1. wow super scary … maby time to invest in ithica dollars … na not quite… gold? na can’t eat it. Farm equipment… fu no…. Cyborg workers… YEA! How about a goverment price freeze?

  2. The puzzling thing is that McCain can say with a straight face that the fundamentals of the economy are strong. This is a problem with banks that could be the start of something big, and bad, and nobody will take their heads out of the sand.

  3. I respect your support for Nader, but actually there is also another candidate advocating REAL change: Cynthia McKinney of the Green Party. Please see my post: Is the Bush Administration a Crime Against Nature, at http://dylanfreak.wordpress.com.

  4. neep buddy, you always come up with the coolest jokes!

    Dutch, what mcPain means is that the economic fundamentals are strong in favor of rich pigs like him. The rest of us can suffer, so long as the corpoRATeers get to continue to live high on the hog!

    I hear ya brother dylanfreak. As a proud registered member of the green party since the nineties, I know they have a candidate running. Alas, I opine that she is little more then a dem party retread.

    I turned my back on the national green party after the 2004 election. The national green party has been co-opted by phony pro-dem progressives. They proved themselves worthless by coming up with the “run in safe states only” 2004 presidential campaign. By “safe” they meant their candidate wouldn’t run in states kerry needed to win.

    The greens have very few state ballot lines, and not enough organization on the ground to run with the big boys nationally. Nader is the only credible alternative candidate this election. He will be on 45 state ballots by Sept. 12th. I doubt McKinney will be on more then a dozen ballots. Ya just can’t win that way! I hope this will change in future elections. But this election I’m supporting Nader.

    The state and local green parties have done much more good. By continuing to gain seats in state and local elections, I hope they will grow locally, then by getting more state ballot lines grow into a truly national party.

    The scientifically impossible I do right away
    The spiritually miraculous takes a bit longer

  5. Not to excuse the Dems anything ( the ReThugs are beyond characterizing as merely useless : active assholes ) but I really do think the guys pointing out the government does not run the banking system have a point lost on most commenters. The Ron Paul crowd were many things, but I never counted stupid among them.
    Hit YouTube any day of the week for many unheard stories from that disinformation factory called the media. The Council for Foreign Relations is probably as good a place to start as any.

  6. Good to see ya Opit!

    The thing is, there USED TO BE GOVERNMENT RULES that banks had to follow. These rules were in place to make sure the banks didn’t get greedy and cause the kind of mess we are seeing now.

    Since that idiot raygun, he US government has done away with many of those rules. “DEREGULATION TO GET GOVERNMENT OUT OF THE WAY OF BUSINESS” was how they sold this insane plan. We are paying the price now…

    The scientifically impossible I do right away
    The spiritually miraculous takes a bit longer

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