There are now 105 failed banks in the US (news update from zerohedge)

Reference to article posted on Zerohedge.com
thanks for reporting the news as they are.
Sheila Bair Addresses A Worried NationSubmitted by Marla Singer on 10/23/2009 17:31 -0500
100: Partners Bank, Naples, FL101: American United Bank, Lawrenceville, GA102: Hillcrest Bank Florida, Naples, FL103: Flagship National Bank, Bradenton, FL
104: Bank of Elmwood, Racine, WI
105: Riverview Community Bank, Otsego, MN

As you watch the bobbing metronome of Sheila C. Bair's head during this video ("...but as I said [left tick] we have the ability to immediately access [right tock] up to $500 billion from our Treasury line [left tick]...") wonder to yourself quietly:
How is the FDIC going to slurp down another $500 billion without some roof rasing action on the debt ceiling?
How can ANYONE promise that no insured depositor will ever (until the heat death of the universe) lose a dime?
What family of narcotic sedatives are being used in this video?
I just LOVE this last comment. RC 102409


Interesting facts and figures from the Washington Bailout League

Sent by a good friend of mine.


The amount of federal taxes that Secretary of the Treasury
Timothy Geithner (D) failed to pay during his employment at
the International Monetary Fund despite receiving extra
compensation and explanatory brochures that described his
tax liabilities.



The amount of money that the  head of the  powerful
tax-writing committee, Rep. Charlie Rangel (D-NY), was
forced to report  on his taxes after the discovery that he
had not reported income from a  Dominican Republic rental
property. His excuses for the failure started with blaming
his wife, then his accountant and finally the fact that he
didn't speak Spanish.



The  INCREASE in the amount of petty cash each of our
Congressional representatives voted to give themselves in
January 2009 during the height of an economic meltdown.
That's a $40 + million INCREASE!

 See video here from Fox


The amount Fannie Mae "invested" in Chris Dodd (D-CT), head
of the powerful Senate Banking Committee, presumably to
repel oversight of the GSE prior to its meltdown. Said
meltdown helped touch off the  current economic crisis. In
only a few years time, Fannie also "invested" over $105,000
in then-Senator Barack Obama.



The amount of back taxes and interest that Cabinet nominee
Tom Daschle (D) was forced to cough up after the vetting
process revealed significant, unexplained tax liabilities.

Wall Street Journal


The approximate amount of income and deductions that
Daschle (D) was forced to report on his amended 2005 and
2007 tax returns after being caught cheating on his taxes.
This includes $255,256 for the use of a car service,
$83,333 in unreported income, and $14,963 in charitable

Wall Street Journal


The amount of "sweetheart" mortgages Senate Banking
Chairman Chris Dodd (D-CT) received from Countrywide
Financial, the details for which he has refused to release
details despite months of promises  to do so. Countrywide
was once the nation's largest mortgage lender and linked
to  Government-Sponsored Entities like Fannie Mae and
Freddie Mac. Their meltdown precipitated the current
financial crisis. Just days ago in Pennsylvania ,
Countrywide was forced to pay $150,000,000 in mortgage
assistance following "a state investigation that concluded
that Countrywide relaxed its underwriting standards to
sell risky loans to consumers who did not understand them
and could not afford them."



The  estimated amount of donations by Denise Rich, wife of
fugitive Marc Rich, to Democrat interests and the William

J. Clinton Foundation in an apparent quid pro quo deal that
resulted in a pardon for Mr. Rich. The pardon was reviewed
and blessed by Obama Attorney General and then Deputy AG
Eric Holder, despite numerous requests by government
officials to turn it down.

True:   <http://articles.latimes.com/2008/nov/20/nation/na-holder20


The amount of TARP money provided to community bank
OneUnited despite the fact that it did not qualify for
funds, and was "under attack from its regulators for
allegations of poor lending practices and executive-pay
abuses."  It turns out that Rep. Maxine Waters (D-CA), a key
contributor to the Fannie Mae meltdown, just happens to be
married to one of the bank's former directors.

True:   <http://online.wsj.com/article/SB123258284337504295.html>
http://online.wsj.com/article/SB123258284337504295.html  Wall Street Journal


The upper range of net worth Rep. Allan  Mollohan (D-WV)
accumulated in four years time according to The Washington
Post through earmarks of "tens of millions of dollars to
groups associated with his own business partners."

  Washington Post


($2 billion) the approximate amount of  money that House
Appropriations Chairman David Obey (D-WI) is earmarking
related to his son's lobbying  efforts. The son, Craig Obey,
is "a top lobbyist for the nonprofit group" that would
receive a roughly $2 billion component of the "Stimulus"



($3.7 billion) not to be outdone, this is the estimated
value of various defense contracts awarded to a company
controlled by the husband of Rep. Diane Feinstein (D-CA).
Despite an obvious conflict-of-interest as "a  member of
the Military Construction Appropriations subcommittee, Sen.
Feinstein voted for appropriations worth billions to her
husband's firms."



($4.19 billion) the amount of money in the so-called
"Stimulus" package devoted to fraudulent voter
registration ACORN group under the auspices of "Community
Stabilization Activities". ACORN is currently the subject
of a RICO suit in Ohio ..


$1,646,000,000,000  ($1.646  trillion):

The approximate amount of annual United States exports
endangered by the "Stimulus" package, which provides a "Buy
American" stricture. According to international trade
experts, a "US-EU trade war looms" which could result in
a worldwide economic depression reminiscent of that touched
off by the protectionist Smoot-Hawley Act.


and  <http://www.powerlineblog.com/archives/2009/01/022685.php>

Background:  Smoot-Hawley Act:


Mr. President, the YEN will not outpace the dollar on its downward slide, as evidenced in the article enclosed.

Thank you Mr. Nozawa, for this insightful piece, yes the bloated US Dollar will feel the effects of the greenback prints well into the 2011 year.



Pellegrini - for Treasury Secretary


I have an idea, if we join him , we may be able to repay some of the billions , gone in the bailout
bonanza held in November, and March of this year.

Mr. Pellegrino's Hedge fund may hire more people than the insensitive, and sinking fund MINDED, banking system.


RC 100209