Posted on 09/02/2009 3:57:23 PM PDT by fiscon1
Almost every Friday since January, the Federal Deposit Insurance Corporation (FDIC) has added more names to its “failed bank list”—84 so far this year, already more than the 26 for all of 2008. America should be proud of this document, which seems an example of the prudent regulation integral to free markets. But the FDIC’s elegant system, which both ratifies the markets’ discipline of bad banks and protects broader markets from depositor panic, has become a tool of the government distortion that imperils our competitive economy.
(Excerpt) Read more at city-journal.org ...
More of the tyrannical control. How long til just One store to shop -Walmart and One bank to bank Goldman Sachs? well not until the next bubble bursts anyway....In your children’s lifetime though,. Unless AMERICANS STAND UP AND SAY WE ARE MAD AS HELL AND WE ARE NOT GOING TO TAKE IT ANYMORE!
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