Sunday, 23 August 2009

Pesky math & FDIC; Argentina...............from Rico

Damned pesky math!!!

Watch for the 8/25 FDIC 2Q 2009 report on the health of banks.
- Better and see how the public reacts to the report! Maybe, as is usual these days, the MSM won't bother to report the information and this will fly completely under the radar. It's not a problem if we don't 'talk' about it, right?

Bank failures have depleted the FDIC reserve fund from $52.8 bn in 2008 to $13 bn 1Q 2009.
....hmmmm. The 56 bank failures since 31 Mar 2009 have cost FDIC $16 bn.
- The numbers don't 'match' do they?

Has the FDIC already tapped into its line of credit at Treasury?

What happens if the public figures out its deposits (in banks) really aren't all that safe?
- Bank runs? What?

Has anyone paid any attention to Argentina and what has happened there? NO. [So what if Argentina defaulted on its debt in 2001.....but how about more recently?]
- 23 oct 2008 Argentina seizes pension funds to pay debts. The state took control of private pension funds to raise cash. This is what happens when bond sales fall short of financing debt needs.

Who's next to cry after Argentina? The US, the UK, EUroland?

BUT that was Argentina! It can't happen here. State cooption of private property HERE? Nawwwww! No way! hey, just ask Chrysler and GM et al.!

1 comment:

LifeoftheMind said...

Pity the chart ends in March. Would like to see the next two data points. Did you say $40+ billion was looted?