Very HARD to write an article about banks...isn't it! Nice try!Submitted by takeaction on Sat, 07/26/2008 - 22:12
I clicked on the Communist News Network (CNN) to read a quick article....what an absolute joke. This article is about "Problem Banks:What you need to know?" The statements in this article are incredible.....they take a very serious situation and say comments like this......
#1 The bottom line: the vast majority of banks are in good shape, and when banks do fail, customers rarely lose money because most deposits are insured.
#2 The agency doesn't reveal the banks' names, but it does give the total assets of these institutions.
#3 So far this year, seven banks have failed - a far cry from the turbulent times of the savings and loan crisis of the early 1990s, when more than a thousand institutions shut down. (Just the Start LOL)
#4 Since most banks on the list don't fail, the agency wants to prevent making things worse by scaring customers....
#5 Considering there are about 8,500 banks in the United States, 90 problem banks is not that large a number,
#6 "If customers have deposits of under $100,000, they don't have to worry.
Can you believe this crap????
Nice try at trying to "smooth" things over.
If you would like to read the full article......it is funny (not really) here you go.