IndyMac bank run: A sign of things to come?
Harry Koza
July 18, 2008
http://www.theglobeandmail.com/servlet/story/LAC.20080718.RKOZA18/TPStory/Business
That's kind of odd, since it was a substantial flameout. Indy was the second-largest mortgage lender in the United States, and the seventh-largest savings and loan, with $32-billion (U.S.) in assets and $19-billion in deposits - $1-billion uninsured. It was the biggest bank failure in years. Since 2000, according to the FDIC, there have been 32 bank failures in the United States, with IndyMac the fifth one so far in 2008 and bigger than all the other 31 put together.
The FDIC has another 90 to 150 banks on its list of "troubled" lenders, so it seems likely that there will be more banks going under in the months ahead. Somehow that doesn't seem to bode too well for all those predictions of a second-half recovery this year, you know, that mythical V-shaped chart form, dipping quickly into recession only to storm back up into a new boom.
Internet Censorship Alert
Internet Censorship Alert: Alex Jones exposes agenda to 'blacklist' dissenting sites (March 14, 2010)
As I predicted, the Obama Administration is trying to shut down the Internet - at least the parts he doesn't like. Barack Obamas regulatory czar, Cass Sunstein has stated that he wants to ban conspiracy theories from the internet. Think about what this means - Every video, every website, every blog, every email, that exposes or just criticizes the government for any reason whatsoever could be labeled a "conspiracy" and taken down. Your home could be raided in the middle of the night, and you could be carted of to jail for criticizing the government. All they have to do is call it a "conspiracy theory".
http://www.youtube.com/watch?v=aqAWmBLFodE
Tuesday, August 5, 2008
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