Local Arranged Bank Marriages And The Emergence Of Facism

The FDIC (Federal Deposit Insurance Corp.) is broke.  Banks have been forced to pay in their insurance premiums for a couple years in advance, and there still isn't enough money in the fund to bail out the banks that are closing around the nation this year.  So the Feds have changed the way they close banks.  They prepare to close a weak bank, but behind the scenes they are working to create an "arranged marriage," a takeover by another bank.  This tends to kill the smaller, local banks in favor of larger banks that can be more easily controlled and manipulated by the government.  Welcome, facism, the partnership of big government and big business.

This is occurring in Colorado, even this year. When Bank of Choice, a local chain based in Northern Colorado, was closed by the Feds this past Summer, the FDIC pawned it off on Bank Midwest, out of Kansas (with a holding corporation in Boston).  This past weekend the Feds closed out another small chain, Community Banks, with branches down in Durango and a couple other small communities.  Who ended up with these banks?  You got it.  Bank Midwest.  (Link here to article from Durango.)

It is as though the Feds are consolidating banking into regional mid-sized banks, while absolving themselves of the responsibility to actually close down the bank and pay out the customers from their funds.  The losers are the small banks and local communities.  Local autonomy disappears.  True, the name on the door stays the same and banking folks keep their jobs for the most part.  But the mid- to large-sized banks are the winners.  They consume the little guys.  And there is no local accountability whatsoever.

And what about the FDIC?  Well, they are still broke.  But they are the power brokers creating facism, one bank at a time.  Ultimately, it's all about controlling you.  Perhaps the Organize Wall Street folks should be camping out in the halls of the Federal Reserve instead of complaining about the private sector.  After all, it's all being orchestrated by them.

Comments

[creapstaups]

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[Dennis]

Bobby J,

You are exactly right!

less government

[Bobby J.]

remaining not reaming. Although Obama and his comrades are reaming us all, every time they nationalize another sector.

[Bobby J.]

College has been nationalized. Are there any non-nationalized sectors reaming?

Sad part is, the more government money you throw at a sector, the higher prices go. It is a simple economic law but hey, who cares, commies don’t need no stinking economic realities.

[Dennis]

...head in sand, bah

You watch too closely the details, flying too close to the ground.

You see, it's not just the banks.

something about the trees...

forest

[Powerball]

Either way, an FDIC without funds or an under capitalized bank, the system is broken and the best way to hide that from depositors at this point in time is to bury it. All erosion takes place little by little over time. What you need to answer is why we're 15 Trillion in debt and at 100% of GDP. I wonder how many banks will be left or better yet the government will be able to cover and explain for when Bernanke finally needs to raise interest rates in the next year or two.
When you have a president who has been so poor at governing by pushing the string, who alienates half of congress because he only understand confrontation, and who states in public he now can't work with either the congress or the senate and turns to occupy wall streeters and college kids offering bribes for voter support in the worst economy since the great depression you'd better be ready for him to start issuing Obama currency because he's well on the way to s--t canning the constitution and naming himself king.

To understand the consequences of not paying attention you may want to read a review of "The Nazi Dictatorship and the Deutsche Bank" by Harold James.
Reviewed by Christopher Kobzack, Professor of Finance at the European School of Management.

http://www.hbs.edu/bhr/archives/bookreviews/79/ckobrak.pdf

[Sam Hill]

Bah, my point exactly. There was no New Frontier-style takeover of Bank of Choice or Community Banks for good reason. The FDIC doesn't have the funds available to do it. As a result we are seeing the mergers of various banking entities, where the stronger banks gobble up the weaker ones. Examples are many including Wells Fargo assuming Wachovia, etc. But this does weaken the local, community bank presence and gives the government a smaller group of larger banks to manipulate and control.

[bah]

Again showing your lack of knowledge/research:

Community Banks of Colorado was no small bank. Close to 40 branches statewide, including in Denver. Not just 'Durango and a couple other small communities.' They also had ties to California.

As for Bank Midwest, that's one of the best, most-focused chains in business in Missouri.

While you don't like the sell offs, with the lack of capitalization Bank of Choice suffered from, it was either a sale or go the route of New Frontier. Either way BOC wasn't going to continue to exist in its current form. I'd rather have the bank continuing to operate with the capitalization necessary than face another "crap out".

[Powerball]

A cult of personality arises when an individual uses mass media, propaganda, or other methods, to create an idealized and heroic public image, often through unquestioning flattery and praise. Cults of personality are usually associated with dictatorships. The sociologist Max Weber developed a tripartite classification of authority; the cult of personality holds parallels with what Weber defined as 'charismatic authority'. A cult of personality is similar to hero worship, except that it is established by mass media and propaganda.

definition from Wikipedia

I DIDN'T MAKE IT UP!

[Powerball]

Again I say you can't have it both ways!
You must decide if you want to be governed by rule of law or the ideals of one man; by definition a dictator.
Yesterday, just 50 miles near you, Obamanation told college students: "We can't wait for Congress to do its job," he said, sounding the refrain of his new "We Can't Wait" tour. "So if they won't act, I will."

So why vote at all. Why have a congressman or a senator? Before you you have a man who can by osmosis absorb everyone's want and desire, assimilate them, and spit it out again without any conflicts of interest. By golly he's better than Sants Clause or saying a prayer. With Obama ration you don't even have to think to make it so!

But while your engaged by the rhythmic chant and drum beating listen to his words-
I, Me, Mine, I'll
Can you hear the old refrain-
Heil, Mein Fuhrer
(Hail, my leader).

Oh how good a time that was. . .