iDaniel.org

Yesterday, October 30, 2009, while we were all planning our Halloween parties and thinking about the World Series, The FDIC closed more banks in that one day than they have on any one day of this tragic year.  A total of 9 American banks were closed yesterday.

According to the official FDIC site, banks in Texas, California and several other states were permanently shuttered.  There are a total of 416 more banks on the FDIC confidential list of problem institutions that may possibly get the axe.

On Thursday, July 2, 2009, 7 banks were closed.  That was the absolute record for one-day closures, until yesterday.  Last week, October 23, the Feds closed 7 more banks, tieing the daily record.  Now this week, we set an all-time high for bank closures in one day.

Of course, they will open today or Monday under a new name.  But the interesting thing is that it doesn’t seem to matter to anybody.  This is not big news.  This is amazing to me.

Any other time in American history people would have become concerned and realized that there is a problem…a big problem.  Today,  nnnneeh.  No big deal.  Just another bank failure.

We are spiraling faster and faster into economic disaster, and everybody just sort of yawns.

Is this an economic recovery? 

Maybe it’s just me, but I don’t seem to feel that this is anything like a “recovery”.  Hmm.

iDaniel.org

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