17 Banks Fail As of Jan 28th 2011

[Norwayguy]

Banks are a business just like any other business. The difference is they are insured by the FDIC thus are tracked on their failures. The failures mean nothing more than failed business attempts. I believe if tracked, you would probably find many more Insurance Agencies who have failed. The story is different when dealing with larger national banks or large regional banks. These failures will reflect the economic condition of the area they serve.

I'm sorry BillIAm did you just compare a Bank to an insurance Agency? I understand what you are saying about banks being businesses. But wouldn't the more correct corolation be between banks and the Insurance Carriers, as an agency does not maintain accounts and have access to the policyholders values...My thread was just to update people that banks do fail and happen a lot more than makes the mainstream news.

 

[houcoogster]

Come on guys you know what the scam is....once the bank knows they are doomed they loan bookoo money to their cronies and get a golden parachute on the sly paid for by the taxpayers.