I’m no economist but I’m very concerned over this continuing ‘closing’ of banks as well. It was up to 9 for the year so far. As a nation, we’ve become ‘desensitized’ to hearing about the feds closing banks/regulators going in and ‘closing’ banks through the years, however, there is an agenda at work for months now, closing the small town banks (imo)some of which sounded healthy (took finance but can’t remember the ratio of assets/cash on hand to loans required). I’d appreciate some input on that theory.
My suggestion is to read up on ‘Central Planning’ economics.
Obama announced after being sworn in that the government will be guiding the ‘invisible hand’.
Seems if you know your history, it becomes clearer.
Can’t help with finance questions, but the idea seems to be a total government takeover which will force us to use Obama-controlled banks, autos, homes, grocers, churches, etc. in an effort to deprive us of any income above his allowed limit.
I’ve read that was what the first depression was for - to reconsolidate the banking business into the hands of the few; cause runs on smaller banks & withdraw support.