Loading ...The dirty Goldman Sachs pump monkey Jim Cramer has managed to pressure the FDIC to speed up the numbers of banks closing and handing them over to bigger banks. Personally, I feel this is a big mistake. I would much rather see a few banks fail every week and be acquired by small regional banks that didn’t participate in the fraudulent lending. Yet, this week, a week after Jim Cramer called out the FDIC on national television and insisted that letting one big bank take over many small banks to speed up the process, the FDIC changed. Yesterday nine banks across the nation were swallowed up by U.S. Bank Corp. But the bending over didn’t come cheap for the FDIC, they had to use 2.5 billion to complete the merge. Now, the safety net of the banking system has ran out of money. Instead, like most of the banks in the USA, it has become insolvent, too big to fail and government sponsored.
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