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Is The FDIC Broke And Covering It Up?

Submitted by Gus G on Mon, 08/03/2009 - 06:56
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Thanks to the Ticker Guy for reporting where no one dares to report. The Newspaper industry wonder why they are going bankrupt.

http://market-ticker.denninger.net/archives/1283-Is-The-FDIC...

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One Of Three Down; Is The FDIC Still Solvent?

Submitted by Gus G on Fri, 08/14/2009 - 12:02.

From the Ticker Guy

Colonial, Alabama’s second-largest bank, is being closed by regulators today, the person said, becoming the largest U.S. bank failure of 2009 after an expansion into Florida saddled the lender with more than $1.7 billion in soured real-estate loans.

for more
http://market-ticker.denninger.net/archives/1335-One-Of-Thre...

Footnotes to Regions Financial Corp. latest quarterly report

Submitted by Gus G on Fri, 08/14/2009 - 12:13.

Market Ticker reports

Check out the footnotes to Regions Financial Corp.’s latest quarterly report, and you’ll see a remarkable disclosure. There, in an easy-to-read chart, the company divulged that the loans on its books as of June 30 were worth $22.8 billion less than what its balance sheet said. The Birmingham, Alabama-based bank’s shareholder equity, by comparison, was just $18.7 billion.

So, if it weren’t for the inflated loan values, Regions’ equity would be less than zero. Meanwhile, the government continues to classify Regions as “well capitalized.”

more

http://market-ticker.denninger.net/archives/1328-Heh-Lookie-...

Guest Post: SEC Memo Says Guaranty Bank To Be Seized, Not Sold

Submitted by Gus G on Tue, 08/04/2009 - 12:47.

This is from zero hedge who broke the story on High Frequency Trading.

http://www.zerohedge.com/article/guest-post-sec-memo-says-gu...

Guaranty Bank...

Submitted by Devon_Saunders on Fri, 08/14/2009 - 12:14.

CORUS and Guaranty, both of which have said they (as of last filing) have a negative Tier Capital Ratio, meaning that they are formally underwater and IMHO should have been seized months ago.

little tidbit... :)

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~Live life to its fullest, with an open heart, open arms and most important... an open mind~

They have a contingency plan

Submitted by BigT on Mon, 08/03/2009 - 08:20.

in place to handle this matter.

Of course, it's not a good plan, but they have a plan.

I read about this at least several months ago.
Apparently, there has been a concern of the depletion of the FDIC funds for some time, and the plan was devised when the FDIC funds were around $18 billion.

The "plan" is to make a "one time assessment" on all FDIC member banks, of a quite substantial amount of money from each bank, in order to "replenish the fund".
Unfortunately, this "one time assessment" is so substantial, that it exceeds the yearly profits from some banks.
In other words, some smaller banks aren't going to be able to pay it.
So, this will drive these smaller banks out of business.

As these smaller banks fail, it will be a "soft failure" because they won't be bankrupt, they'll just be closing because they can't pay the assessment. So, there will be a relatively orderly transition of the customers transfer of their accounts from the banks which are closing, into the larger major banks which will not close.
And this is viewed by some as part of the "overall plan", which of course is to eliminate competition in the banking industry, and funnel it all into the few major banks which were "bailed-out", and are the "favored players".
Sort of like a Goldman Sachs, Bank of America, Chase, and Citigroup oligarchy of the financial industry.
That will then pretty much finalize the government takeover of the private financial sector.
They are also working hard to governmentalize the private healthcare sector.
And the end goal is to governmentalize the control of everything and everyone in the nation, and indeed, probably eventually the world as well.

Each thing is a piece of the grand puzzle that they are putting together, and each piece has it's own little bureacracy of demons managing it.

I agree BigT

Submitted by blounttruth on Mon, 08/03/2009 - 08:52.

I also think this is directly related to the cash for cars program, and their hacking website.
http://www.youtube.com/watch?v=KZxaWDqUmho
I do not think this is a mass government plan to look into the personal lives of every day Americans, they already do that. This is simply to gain access to car dealers systems, databases, and financials. This will allow GM (Government motors) to spy on the competition and counter sales drives and things of this nature, while capturing any corporate strategies to off set competitors deals and promotions. Many people may log into this site to find out the information on the program, but in reality all car dealers are logging in to turn in claims for their cash. So much for business ethics and this is what the American people deserve for not waking up to the reality.

A local radio show here at home was talking with one of our senators this morning and the question arose "Who is the leader of the GOP, who is taking the party by the reigns"? It would do me no good to call in, as the political education level in the South is directed by the Churches, and we are a DARK RED state, so no point in mentioning the obvious Congressman who has support for the largest bi-partisan bill that has the support of the majority of the house in possibly my lifetime. I just do not see any way to promote the truth when everything these people have known to trust now lies to them, and they take the word of the local media as gospel.

In the beginning of a change the patriot is a scarce man, and brave, and hated and scorned. When his cause succeeds, the timid join him, for then it costs nothing to be a patriot.
~Mark Twain

—

Always remember:
"It does not require a majority to prevail, but rather an irate, tireless minority keen to set brush fires in people's minds." ~ Samuel Adams

Stay IRATE, remain TIRELESS, and set those BRUSH FIRES everywhere you go and in all you do!

It looks like the FDIC is down to $800 Million

Submitted by Gus G on Mon, 08/03/2009 - 07:59.

Update from Ticker Guy

I was sent a table showing the FDIC's remaining funds. I have not done a comprehensive analysis on this but I did eyeball it and the quick check appears to be good; I can't vouch for this on my own detailed analysis but if this is accurate the FDIC is down to $800 million dollars, and a failure of any of the three "seriously in trouble banks" - Colonial, Corus or Guaranty - would blow that tiny little pile of money to Mars.

http://market-ticker.denninger.net/uploads/FDIC.png

It's coming.

Submitted by duff on Mon, 08/03/2009 - 07:42.

This sounds like it will add to the "commercial real estate shoe to drop."

Very interesting:

Submitted by Tramp on Mon, 08/03/2009 - 07:33.

I sort of had this figured out a long time ago.
Not a one of the actual people responsible will see a day of the consequences that they should see.

~~~~~~~~~~~~~~~~~~~~~~~~~~
I love my country
I am appalled by my government

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~~~~~~~~~~~~~~~~~~~~~~~~~~
I love my country
I am appalled by my government

When you can print whatever you need....

Submitted by LastAmericanStanding on Mon, 08/03/2009 - 07:02.

...You can never go broke.

I may not know the truth, but I know when I'm being lied to...

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I may not know the truth, but I know when I'm being lied to...