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FDIC shut down 9 more banks

Still think that stimulus is working?


Asked by Anonymous at 9:32 AM on Oct. 31, 2009 in Politics & Current Events

This question is closed.
Answers (4)
  • As much as I do not support Obama or the "stimulus," FDIC bank closures or failures are nothing new, and it's certainly not any worse than it was in the 80's/early 90's.

    Here's a graph detailing total bank closures/failures since 1934, and the complete story, here.

    I know, it's only a "Blog" but there are actual links, and verifiable references if you want spend hours doing the fact checking yourselves.


    Answer by LoriKeet at 9:56 AM on Oct. 31, 2009

  • Thanks LORI :) I love it when you're rational.

    OP as Lori said stimulus and banks have nothing to do with each other, TARP was aimed at the banks. The federal government backs those deposits, they have every right to shut down a bank if their making bad lending choices that jeopardize people's monies.


    Answer by SRiveroC at 11:35 AM on Oct. 31, 2009

  • OMG! Both LoriKeet and I agree with Sriveroc? Somewhere in hell they are throwing snowballs.

    Answer by Anonymous at 12:33 PM on Oct. 31, 2009

  • Never did. It's actually a good thing that these underperforming banks are taken over by stronger ones. There are two many banks out there anyway. Most employees keep their jobs and the bank is just absorbed under another name. No big problem there.
    As far as teh stimulus helping, it's not. Obama didn't want to help out the smaller banks only the ones "too big to fail"

    Answer by itsmesteph11 at 12:33 PM on Oct. 31, 2009