ATLANTA— John Kanas, owner of a private equity firm that has recently dabbled in buying up failed banking institutions, is predicting that around 1,000 banks will fail in the upcoming 2 years. This number is significantly higher than the roughly 400 banks that the FDIC currently has on their troubled institution watch list. It probably [...]
Archive for August 28th, 2009
Great Recession Part II: 1,000 Banks About to Fail!?
Posted in Current Events, Economy, Politics, tagged 1000 banks to fail, Anti-Obamacare, Banking Crisis, Barack Obama, Cap and Trade, Cap-and-Trade Sucks, Economic Meltdown, FDIC, HealthCare, Obamacare, Obamanomics, Public Option, Public Option Sucks, US economy, Worst President Ever on August 28, 2009 | 8 Comments »
AIG Investment Deemed “Highly Speculative” by the U.S. Treasury Department!?
Posted in Current Events, Economy, Politics, tagged AIG Bailout, AIG Bonus, Barack Obama, Bush Administration, Moral Hazard, Obama Administration, Tim Geithner, US economy, US Treasury Department on August 28, 2009 | 1 Comment »
The prospects of recovery of capital and a return on the equity investment to the taxpayer are highly speculative,” —U.S. Treasury Department, August 28, 2009. ATLANTA— Bloomberg.com is reporting that Judicial Watch, a group that advocates government transparency, obtained documents from the U.S. Treasury Department under the Freedom of Information Act that show the Department’s true [...]
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