Random Thoughts
FDIC Insurance Premiums Put Squeeze on Small Banks
Jan 11th
The FDIC Insurance program must bolster it’s funds to cover further bank failures, and small banks are paying the price. The insurance fund, which covers depositors funds in case of bank failure, lost over $36 billion as it took control of over 140 failed banks in 2009. For my own small local bank, FDIC insurance premiums increased 359% over this time last year. At the end of the 3rd quarter 2009, they reported a 72.5% net income loss compared to the same period in 2008 — with the increase in FDIC insurance premiums being More >
Move Your Money
Jan 1st
If you are as disgusted as I with the taxpayer funded bailout of the “too big to fail” banks — who basically hoarded the funds for record profits instead of pumping it back into the communities — then make 2010 the year that you stand up and say “ENOUGH”. Send a powerful message to the banks — and Washington — by More >
