Government turns blind eye to banks in greatest danger of collapse

Government turns blind eye to banks in greatest danger of collapse

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Brenda Hawkins Government turns blind eye to banks in greatest danger of collapse. There are Forty-six more banks have failed in just three months more than 130 so far this year. The FDIC's “problem” bank list is at a 15-year high … and the pace of its bank seizures is accelerating . With nearly all of the government's rescue efforts geared toward propping up a select few “too-big-to-fail” institutions, thousands of not-so-huge banks and S&Ls are now defenseless against surging commercial and residential loan defaults. Troubles behind the scenes are getting so bad, bank CEOs and industry analysts now believe as many as 2,000 banks will fail before it's over. Is your bank one of them?
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Unformatted text preview: Unfortunately, the FDIC won't tell you which banks they are. Their list of “problem” banks is confidential. But ours banks promise us that they want to keep our money and any other accounts safe and Plus, they want to do everything they can to help make sure you can find a truly safe place for your money and keep it safe even in the worst of times. And it still more banks are having problems and not letting the customers knows about their accounts. Banks like S&L’s plus life, health and annuity insurers we believe to be at significant risk of failure....
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This note was uploaded on 06/18/2011 for the course BUS 499 taught by Professor Campbell during the Spring '11 term at Strayer.

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