Boehner’s Address to the Nation on Debt Talks
I’ve got news for Washington – those days are over.
http://blogs.wsj.com/washwire/2011/07/25/boehners-address-to-the-nation-on-debt-talks/?mod=e2tw
Recently, the FDIC changed it's insurance levels effective 01/2014 from $250,000 to $100,000 - it's on their website.
Second, on a 3-2 vote cast on 01/27/2011, the SEC enacted rules to allow US financial institutions to freeze all money market accounts in the event of a 'crisis'. Crisis was never defined in the rule change, however, 'hardship' cases was ruled to be inclusive. IOW, even in the event of starvation, cold, rent, etc., banks could refuse depositors ability to withdraw their money for any reason(s).
Third, the 10 largest US banks own 77% of all the banking assets, not to mention the sheer number of bank failures (>350) the last 3 years.
Something catastrophic is on the near horizon.
It all sounds nice.
As usual though, I am pessimistic, and will “wait and see” if the Republicans keep pressure on or go back to “business as usual”.