My friend Jeff wrote this and I thought that it was worth sharing:
Every Friday Night
At closing time on friday nights the FDIC moves in to take over banks who have failed due to risky bets.
These banks are warned in advance by a court order to cease and desist.
This information is not shared with the customers,or employees of the bank.
There are three ways to close a bank
1.Close the bank,and pay off depositors.
2.Take over of operations by FDIC.
3.Sell the sick bank to the highest bidder,who is quaranteed up to 80% of it's deposits by FDIC.
Last year 25 banks failed.
This year we already have 16 failed banks.
Dozens more will fail this year alone.
The FDIC expects to spend 65 billion dollars on closing failed banks over the next five years.
Allowing banking institutions to grow too large is the same as letting the other monopolies who have tried to hold the nation hostage to it's demands have their way.
Teddy Roosevelt was a trust buster for this very reason.
Too much power in the hands of too few,always leads to abuse.
Let these paper tigers fail,and replace them with smaller,easy to regulate community banks.
Keep your money in your neighborhood......fix your own potholes with local labor.
Jeff Jones
The House of jeffness.org



