Your Bank Has Failed

[Seasass]

These FDIC employees seem so honest, competent, pleasant and efficient--and no depositor has lost ANY insured deposits since the FDIC was created. When you compare them with the greedy, bonus-grubbing Wall Streeters who made stupid bets on a collapsing housing market, it's hard to accept the meme of the inherent superiority of the private sector.

[ytgv3fc7]

"The FDIC never goes broke, we are backed by the full faith and government of the United States"

... except the USA is now 100% broke.

OOPSIES

[dispersingweight]

stack silver and gold in a safe. with your guns.

problem solved.

[ytgv3fc7]

@dispersingweight hell, modify a gun-handle to hold 1 oz of gold on each side so you can carry that gold as safe as ever: in your hand that's holding the loaded gun.

[airscrew1]

I don't know much about banking and finance, but I think these bank takeovers are leading to the one global bank that the NWO want. Just my opinion.

[Superchik1017]

@airscrew1 Other banks buy the bank that's been taken over. If you can afford to buy it, I'm sure the FDIC would let you buy it.

[person8702]

Bids for the bank ? I wonder with the Trillions in bailout they can buy many banks. Sick phucks.

[person8702]

Money out of thin air. A hoax. END THE FEDERAL RESERVE.

[nickarcher03]

I think this was a fascinating story, well-reported y 60 Minutes and CBS. It was interesting to see the mechanics of how an FDIC takeover is done

[Fingolfin3423]

@nickarcher03 Agreed. A lot of people don't really know anyone about the FDIC, the Federal Reserve, and many other institutions. They just think they "print money," etc. This piece by 60-minutes is great because it shows you one of the key roles the FDIC plays in stabilizing the economy by preventing panic, cutting out poor practice, and keeping money moving.

[WoodlandRavah]

MONETARY REFORM!!!  End this fractional reserve banking BS!

[madmanmantra]

F.D.I.C. = Fuckoff and Die Imperialist Corporation

[madmanmantra]

there's no amount of disengenuity these people can hide anymore

[vclxrr]

"... And going forward i think we need to really review the size of these institituions and whether we should do something about that ... I think tax payers rightfully should ask that if an instituioin has become so large that there is no alternative except for the tax payers to provide support should we allow so many institutions to exceed that kind of threshold." - Sheila Bair

Yes: Limit the size of banks, and government. A different (and better) world, for sure.

[TheMarcoDorce]

00:01

[Seasass]

Appointing Sheila Bair is one of the few things Dubya did right. She seems like a very smart, honest, competent, dedicated public servant. Anyone who wants to generalize about how "government" is inherently evil should step back a minute and compare her (and the staff of the FDIC) with the Wall Street gamblers that threw other people's hard-earned dollars down the toilet.

[tdolz]

Old people are stupid.

[INDEPENDENTboy802vt]

banks suck buy a safe bitches

[Preluding99]

I have never personally witnessed an FDIC takeover, but I know everyone involved has some unsettled feelings.

The FDIC is a very good "insurance" policy in place and to limit losses to you and bank depositors their tactics are aggressive, but necessary. The timing involved with the takeover is very swift (overnight) and balancing an entire bank is extremely taxing and exhausting.

I hope and pray the number of failing banks comes to and end soon & we move forward but never forget!!!

[RonRepublican]

"I believe that banking institutions are more dangerous to our liberties than standing armies. If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around will deprive the people of all property until their children wake-up homeless on the continent their fathers conquered. The issuing power should be taken from the banks and restored to the people, to whom it properly belongs."

[gobeavs22]

Man I went thru one of these as an employee. It was not fun. FDIC people were very rude and treated all of us even the tellers as criminals.

[shakaama]

@gobeavs22 seeing the fdic take over I understand where they are coming from. As a teller, you don't have anything to do with it, but the management is warned, then told, then threatened to cease unwise banking practices. To them the entire organization is a criminal operation. When a bank is teetering like that, if they don't step in, they could literally close their doors and say "out of business". My credit union told me nearly as such. They said they made some bad loans O_o

[mookixox]

Just ask Iceland how reliable the guarantees of americans are...lol. Take your money out of the bank (if your not already going into bankruptcy) and buy gold/silver and food. If your govt refuses to back your money with REAL assets then it's up to YOU to do it. If u trust your govt to handle your money then I guess u will have alot more u.s toilet paper in 4years...use your common sense folks, your being raped*

[garyowen4ever]

i cant wait for the valentine that scott pelley will give to ben bermonkey on 60 minutes tonite,,,,,,they'll be going steady i'm sure!

[Kinghercules]

Them big banks: Citi, B of A, Chase and HSBC are in $170 trillion debt so there is no bailing them out and this bank bail out shit is a wait of money and time.

[kanda444]

to anyone who can answer:

1) is the USA a free democracy or a federal republic?

2)What is the difference?

3) what is the US dollar backed by?

4) who owns the federal reserve?

5)who controls the federal reserve?

[dfb8084]

1) Republic

2) Democracy - public has direct vote on each issue. Republic - public elects representatives to legislate issues.

3) Faith in the US dollar. Nixon ended the gold standard.

4) Fed Reserve is made up of 12 districts in the US. Each district is owned and funded by the banks head quartered in that region.

5) Although the Fed is owned by the banks, the appointed Chair of the fed board reports to congress and the president of issues. Quasi-private/governemnt

[Kinghercules]

The $ isnt back by shit. And the time will come when China & Japan will not loan the US shit because the $ has no value.

[soylentgreenb]

Answering the ones that are remotely controversial:

...

3) The US governments ability to levy taxes, keep non-state counterfeiting under control and enforce legal tender laws.

...

5) It's a mish-mash of public and private.