Has anyone noticed that the banks that have been seized are all based on the West Coast?
David DeGerolamo
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Is that trend a push to deplete the FDIC pool with payouts to uninsured cronies before the contagion reaches flyover country? Just asking for a friend.
China owned banks, at least in CA, where many Chinese live. Not sure about Oregon and WA
I hear you but I don’t know. The 2 prior commenters
gave a reason.
It seems to me that bankers have reached equivalence with used car dealers in terms of capturing the public’s trust.
They have played fast & loose (and ruthlessly) with OPM (Other People’s Money) so now we should feel privileged when monies are clicked into their accounts to make them whole once more? Monies that, by their very creation, devalue what we have by means of inflation!
Not surprising. The west coast is the epicenter of stupidity.
Even more interesting would be to see how these banks were hooked together and which others one are tied up with them. In 2008, all too big to fail banks and other entities were financially held by a single investment company, that also happened to hold Global Crossing, Tyco and Countrywide mortgages.
Takes a lot of digging but the info is out there for someone to find. I did it last time… and my gut says the same investments company is likely reeking this havoc as well.