How Sound Is Your Bank?

Dear All;

Some late breaking banking news which
while not extremely serious is still very very
serious. In that 22 banks have been taken
over this year - so far. Last year saw 25 total.

http://finance.yahoo.com/news/Cape-Fear-Bank-becomes-22nd-apf-14902818.html

http://snipurl.com/fntf0 [finance_yahoo_com]

The AP article has this last sentence.

The FDIC expects that bank failures will cost
the insurance fund a total of around $65 billion
through 2013. The agency has increased fees
and premiums in an effort to replenish the fund.

What this does not say is the increased fees
and premiums are layed off on both the good
and the bad banks. The sound good banks have
been really extremely upset that they are being
forced to pay increased premiums for the unsound
practices of the bad banks.

This is the FDIC punishment for being a
good successful bank. I wonder whom
got the FDIC to have basically a one fee
system for all instead of a tiered fee system
based on credit worthiness?

Sort of makes you wonder for a whole
New Yawk sec. Unh Hunh.

How things are at your bank? Go and try to
take out a healthy substantial sum of cash
and see what happens next.

Ron Getty - SF Libertarian
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