The 10 Biggest U.S. Bank Failures

"They didn't go out and force the banks to make a bunch of risky loans, the banks did that for themselves"

LoL that is incorrect, they didn't force but they did recommend them. They also pushed very hard for the removal of Glass Segal which would have completely prevented the scale of the failures currently and prevented most of the risky loans.

If you don't know the removal of glass segal (which was made during the depression to prevent what we have now) allowed banks, financial investment houses and insurance companies to enter into a conflict of interest where no one cared about the loans except that they got commission off their side of the fence. Phill Gram was a great push to enable the fraud we have now. If Glass Segal was in place these massive failures could not occur and the type of loans given would not have existed as they were grounds for removal of license under our former system.

Another note the Fed reserve members have personal stakes in many of these banks you are blaming, many members have become quite wealthy off the failures due to having insider knowlege of the market, always nice to have the fox watch the hen house eh?

Also the Fed DOES NOT HAVE TO BAIL OUT BANKS! Prior to 1919 there were many cases where a bank would fail and NO ONE PURCHASED the banks debt for one reason or another and the morgage holders would get off scott free (more or less) as there was no one to send their money too. God forbid our government allow that! (people not having to pay their morgage)

Also the bail out for the people's accounts in these entities is normally under half (many times less) than what it costs to bail out the companies. I would say, let em burn, cover the retirement accounts and bank accounts to the FDIC limit and benefit the economy by letting people get out of there morgage payments, if even for a short time until some central entity buys the banks debt. (which in many of these cases would take years if ever)

Ryan of WI @ Sep 25, 2008 21:57:11 PM

WHERE DO WE PUT OUR CASH IF IT IS COLLAPSING?

Many of my "friends" "Friends of Michael" are askng me to procure investment grae colored diamonds; gold/silver coins & bullion; and others are investing with me in WATER/FARM LAND real estate that has future potential for development.

I really welcome your suggestions and ideas for what to do to survive this pending disaster; ramseyoil@ya hoo or hot mail.com or 909.887.5050.

I am concerned that we will ALL BECOME "MILLIONAIRES" & "ZILLION AIRS" AS THE VALUE OF USA..... NOT SO FEDERAL..."FEDERAL RESERVE GREEN BACKS" ARE PRINTED BY THE ZILLIONS... TO COVER THE possible FINANCIAL CATASTROPHIC "ARMAGEDDON" THAT THE FEDERAL CHAIRMAN (last week) WARNED US ABOUT..... along with the soothing words that "not one penny has been lost for those who have money in an FDIC insured bank"... which is most likely true; HOWEVER....

***THERE WAS >$55B INSURANCE MONIES TO BACK UP HIS CLAIM;

***BUT NOW MOST LIKELY <$45B as insurance monies have been used to insure the 13+ bank failures within the last 24 months!

***NOW THERE ARE > 120 BANK ON THE POSSIBLE BANK COLLAPSE LIST..... NOW THERE IS REALISTICALLY.... REALLY REALLY REALLY SCARY possibility for A FINANCIAL "ARMAGEDDON"!

Mr. Justice of CA @ Sep 11, 2008 01:35:47 AM

The Federal Reserve has nothing to do with these banks going under. They didn't go out and force the banks to make a bunch of risky loans, the banks did that for themselves. So now the Fed has to go in and bail them out just to keep the economy floating. I you want to blame anyone blame the banks.

of TX @ Sep 08, 2008 18:37:19 PM

Bank Failures!

"In the last days" (Just before the LORD returns) the Bible says: (Rev. 18:17) "For in ONE HOUR so great riches is come to nought." THOUGHT - "what propheteth a man IF he should gain the whole world and lose his own soul?" RICHES is not a sin in an of itself, my friend. IT IS THE LOVE OF RICHES that destroys the soul. The time is coming (very soon) when all the riches of the whole earth will not be able to buy a loaf of bread! This time is just ahead - are you ready?

Mr. D. Davidson of LA @ Aug 24, 2008 11:02:59 AM

monetary crisis

The reason for the great depression , the 1980's, and the present problems is that many organizations and individuals have been allowed to over leaverage their investments. The great depession was because indivdual investors were not regulated on this leaverage, during the 1980 many inestment organizations were not regulated enough to stop the over leaveraging. Today it was precipitated by the Hedge funds and their involement with the mortgage business because they are not controlled in the amount of leaveraging that is done. If this is not recognized we are setting the world up for a greater great depresion.

larry christner of FL @ Jul 26, 2008 10:59:32 AM

thank you

Ms. Konieczko - Thanks for a simple, sound, reasonable plate of information. Not the norm in today's 'news' or information world.

cc of WA @ Jul 21, 2008 13:35:27 PM

Bank ratings

If you want to see bank ratings visit the following websites...

BauerFinanicial.com

Weissratings.com

Veribanc.com

Check out Farmers & Merchants Bank of Long Beach, CA. They are solid and have been that way for over 100 years. Their website is fmb.com for more information on the institution. (22 offices in So. California)

AD of CA @ Jul 18, 2008 20:04:52 PM

Our banking system is flawed from the get go

Just because a bank loans out $100.00 does not mean they have $100.00 in the safe or in liquid assets. Its more like $10.00 in the bank for every $100.00 loaned out.

So for all your money they are paying you 1, 2, maybe 3% interest on, they are turning around and charging 5 to 20% interest ten times over. Pretty slick deal for the banks, until the market turns against them and suddenly "poof" everybodies money disappears.

For a very good explanation of how our banking system works check out www.scamorbam/bankingscams.html

Kyle of AZ @ Jul 18, 2008 16:19:16 PM