Banks taken over by the FDIC for insolvency, bond defaults, CDOs, commercial property loans and defaults, Community Banks, credit default swaps, credit derivatives, cricketdiane, Economics, Economy, failed banks, FDIC, financial insolvency of financial institutions banks community banks, global economic crisis, macroeconomics, Money, mortgage backed securities, off balance sheet accounting, Office of Thrift Supervision, state economic crises, US economic crisis, writedowns
Regulators on Friday closed banks in Colorado, New Mexico, Oklahoma and Wisconsin, lifting to 11 the number of bank failures in 2011 following last year’s toll of 157 taken down by the weak economy and piles of soured loans.
The Republicans and conservatives that have run American into the ground for the last thirty years can be proud – since their mismanagement of America’s economy has continued to yield these results – wonder how many banks have failed since 2007 in total?
Wonder how many businesses have gone bankrupt, closed their doors, were sold for pennies on the dollar and just don’t exist anymore since 2007 and in state after state across the US that have continued to be controlled by the Republican Party?
And we should trust them to fix something at Washington’s decision making tables?
We’re living with the results of what they’ve already done right now.
Did anyone even think through the fact that for every business, bank, corporation, nationally based business, household, manufacturer, small business, mall, restaurant, and retailer that have been plowed under by this Republican manufactured economic crisis – the revenues for our deficit to be resolved along with those jobs and their income tax revenues were also lost?
Doesn’t that mean, the ways that things were being done all this time, before we got to this point (from 1980 until now) – just yielded the results we have right now, rather than strength, economic prosperity and a healthy American economy?
Why would we, as Americans, let any Republican, conservative, right wing member get their hands on any decisions having to do with money? The size of the deficit today isn’t nearly the problem that our lack of revenues as a nation is and will continue to be.
Are they helping to fix that – or are banks and businesses in state after state controlled by failed Republican policies still going under?