Bank Safety Check - Find the Failing Banks
Its no secret, banks are failing left and right. Here's the Government list published by the FDIC The way the government and media is downplaying it is that they are saying the government is creating a stewardship, yeah right, how nice and parental I feel safer already.
Secondly, banks have tons of branches, unlike 30 years ago, so a bank is really a ton of branches failing usually. Make no mistake about it, if you count all the branches failing, we are actually worse then the same Period Pre-Depression levels. Pretty scary to say the least. But necessary to start back from the fundamentals.
No magic formula. Dollar in = dollar out, there ain't no other way around it. But as inflation kicks in its really 1 dollar in .50 cents out! Purchasing power being eroded, the great American theft that no one really feels or sees. Its such a bad game, and the American public is the one who loses.
Anyway, if you want to be proactive and find the best banks to put your money, or better yet, find the ones that are likely to fail before they do, then check out this website. ITs Banktracker from investigative reporting workshop.
The key is to first look up your bank and see if their balance sheet is way overleveraged, which of course most of them are. Thats how banks work. Its when the economy contracts substantially is when they get into trouble. They can't rob Peter to Pay paul anymore, cause peter wants his money back. Don't let all the hype and too big to fail prevent you from understanding the fundamentals, bad debt needs to be cleared one day, there is no way around it.
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