Friday, August 28, 2009

FDIC Problem List

Well there you have it the FDIC puts out their list of problem banks...with some 300 billion in assets...and you know what it reminds me of?

The last time this did this when they down played the problem list by stating that it was 67 billion in total - and then one week later Indymac failed...that was 34 billion alone and was not on the list. Yet somehow magically it failed without anyone's knowledge. And Kudlow and CNBC and company etc all believe everything these guys say?

Do you?

So lets do the math they understated the list by 50 to 60% last time, which we know for sure...and they probably understated it this time by at least the same this time - so, its atleast 485 billion...atleast.
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