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Seattle Bubble Forum Archive • View topic - 60 Minutes Feature; Bank Takeover by FDIC

60 Minutes Feature; Bank Takeover by FDIC

How will housing affect the US and world economy? How will the economy affect housing?

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60 Minutes Feature; Bank Takeover by FDIC

Postby TJ_98370 » Mon Mar 09, 2009 2:21 pm

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60 Minutes crew monitors FDIC takeover of a bank. Text and video.
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Re: 60 Minutes Feature; Bank Takeover by FDIC

Postby SeattleMoose » Tue Mar 10, 2009 11:47 am

Part of the problem with the western financial system is that too much money/power is concentrated in too few hands. This did not happen by accident. It was a conspiracy executed over decades.

Consolidation of power into the hands of a few strengthens control and once you have that kind of power, you can eliminate potential competition (by having "your boys" in position to do so). The worst thing that could happen (in the eyes of the parasites running our financial system) is for the big bloated financial institutions to go down and have savings/checking of Americans become more localized (using local banks with actual roots in the local community), That would be a healthier financial system in almost every way imaginable. A more distributed/localized financial system is antithesis to the control freaks who run the current system.

By swooping in and closing small local banks, the banks that are bailed out and "too big to fail" (according to who?) will get even bigger. And more importantly, the "threat" of competition (and "big bank" alternatives) is greatly reduced.

All the "too big to fail" companies are key cogs in the financial "control system" currently in place.

If the forces of "capitalism" (remember that forgotten concept) were truly allowed to rage free, all the rot and dead wood would be gone. Yet the very behemoths that should already be dead, are being kept alive at "all costs" by the FED and the Treasury Dept. They are gonna try everything to keep the "old system" intact.

Expect a lot more "little bank" failures (done in the night/secretly...per the video) while the huge banks which are literally the temples of greed and corruption, keep getting fresh inflows from the FED/Treasury.

Guess who determines which banks need to be shut down?

FED/Govt/Banksters are one and the same......

The foxes are not just guarding the hen house, they are freely eating the hens.
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