Another record!

Bob McCarty discovered this little tidbit missed by the mainstream media. Bank failures skyrocketed during Obama’s watch.

484 banks have failed since 2000.
58 of the bank failures occured before January 2009.
428 occured during Barack Obama’s administration.
92 banks went under in 2011. 157 banks failed in 2010 and 140 banks failed in 2009. This is the highest number since the early 90′s.

For some reason the media has ignored this devastating news.
Weird, huh?

 

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  1. And the illegal Kenyan fraud goes to bed every night laughing his a$$ off at his success for destroying america

  2. The onerous banking regulations that the Obama Administration ushered in as part of the TARP program, caused smaller banks to simply shut their doors.

  3. And, umm, Michael Gerson of the Washington Post chides Mitt Romney for failing to address social mobility, which, he says, has a lot to do with intact families and educational achievement.

    http://www.washingtonpost.com/opinions/michael-gerson-romney-should-lead-americas-solution-of-class-problem/2012/07/12/gJQA7eOQgW_story.html?wprss=rss_opinions

    I guess he didn’t catch Romney’s speech to the NAACP, despite what he says in his column.

    http://blog.chron.com/texassparkle/2012/07/transcript-mitt-romneys-speech-to-the-naacp-convention/

    Of course, others who bother to listen to or read Republican speeches have said that this is Romney’s stump speech, that he didn’t change anything when he went before the NAACP. If so, then I have to wonder why Gerson is claiming that Mitt Romney is not addressing the issues of upward mobility. Perhaps Mr. Gerson is getting his information from Democratic Talking Heads’ descriptions of what Mitt says, instead of from his videos and transcripts.

    Perhaps Mr. Gerson should do something revolutionary: visit Mitt’s election site.

  4. When Obama said he would ” Fundamentally Transform America ” , he left of …Into a third world country….. President Choomgang, our Marxist – in – Chief is destroying this nation every day.

  5. Nice pickup, Jim. That is very telling.

  6. ++

    not Obama’s Banks (#3), no no no (#18)..

    [The largest banks are actually bigger than they were when he took
    office. And earned more in the first two-and-a-half years of his term
    than they did during the entire eight years of the Bush administration.
    ]

    [Democrats beat the market by 73 basis points per month,
    compared to 18 for Republicans. That’s a rout anyway you
    look at it. Senators fare even better than house members.
    ]

    ["Citigroup Replaces JPMorgan as White House Chief of Staff." (#68)

    Behind that headline is a tangled web.

    The new chief of staff is Jack Lew. He used to work for the giant
    banking conglomerate Citigroup. His predecessor as chief of staff
    is Bill Daley, who used to work at the giant banking conglomerate
    JPMorgan Chase. Daley was maestro of the bank’s global lobbying
    and the chief liaison to the White House.

    Bill Daley replaced Obama’s first chief of staff, Rahm Emanuel,
    who onceworked for a Wall Street firm where he was paid a
    reported $18.5 million in less than three years.

    The new chief of staff, Jack Lew, comes from Obama’s Office of
    Management and Budget, where he replaced Peter Orszag, who
    now works as vice chairman for global banking at the giant
    conglomerate Citigroup. Still following me?

    It’s startling the number of high-ranking Obama officials who have
    spun through the revolving door between the White House and
    the sacred halls of investment banking.]

    scroll for more..

    ==

  7. Are you serious? This is silly. Banks don’t just voluntarily “fail”, they are closed by their regulator and put into FDIC receivership because they are effectively insolvent. A lot of banks were effectively insolvent when Obama took office — there were 252 banks on the FDIC’s problem bank list in the fourth quarter of 2008 alone — and regulators had to go through the process of cleaning them up. Obama had little to do with it.

  8. So much of banking has been taken over, or partially taken over, or reduced in activity by regulation that many smaller banks cannot operate at a profit.

    Student loans – gone. Mortgages – a vast sea of red ink; Fannie and Freddie dominate. New rules for loans make even normally credit worthy folks ineligiable. Higher down payments on mortgages ( which I argee with) has shrunk the market. Refies are dicey because so many homes are under water. Small business is not expanding, large business is not expanding because of lunatic business and tax policy from the FED.

    Lack of economic activity is dragging these banks under. It is a real shame.

  9. ++

    re: #8 July 13, 2012 at 10:01 am bg

    posted about Citigroup many moons ago, and many times since..

    just a sample:

    more here (#27) here (#7) here (#8)..

    ==

  10. ++

    Dave in NYC #9 July 13, 2012 at 10:07 am

    re: Obama had little to do with it (#19)

    :cry: :lol: :cry: :lol: :cry: :lol: :cry: :lol: :cry: :lol: :cry: :lol: :cry:

    ==

  11. ++

    re: #8/13/14 July 13, 2012 bg

    Foreclosures Up for Bulk Sale (#54/55)

    more here (#23), here (#34), here (#24), in connecting links & threads..

    ==

  12. ++

    re: #13 July 13, 2012 at 10:18 am bg

    His Royal Highness Prince Khaled bin Alwaleed

    more here & here & here..

    ==

  13. The real scandal is the FDIC has been letting banks stay open when they have been insolvent for 2 or 3 years.

    The last bank they closed on July 6th has had more bad loans than capital for 2 or 3 years:

    http://banktracker.investigativereportingworkshop.org/banks/georgia/ailey/montgomery-bank-trust/

  14. ++

    re: #18 July 13, 2012 at 11:13 am bg

    July 13 = July 12

    ‘Robin Hood Tax’

    [However, Adelman reports that Congressional Budget Office Director Douglas Elmendorf was “refreshingly blunt: The tax would have substantial negative impact in all areas. It would slow the American economy; it would shift jobs overseas to avoid paying the tax; it would raise the cost of municipal financing, and it would reduce the attractiveness of U.S.]securities in foreign markets.”]

    OT..

    Decorated general: Shariah is here now!

    ==



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