Never worry, never fear! As long as the printing presses keep on running and the ink don't give out, the bills will be paid. Even if they have to hire another crew to work all night long at the BEP.
It works just fine in Zimbabwe. It works so well they even put expiration dates on the paper money, just like we have expiration dates on milk, eggs etc. What better way to wipe out debt created by the money you create than to put an expiration date on it and render it worthless in a few months of it's release into circulation? Hey Ben Bernanke, Mugabe had a good idea!
And being less sarcastic here, it is being published this morning that the FDIC has an internal listing of "problem banks" which they are watching, but do NOT publicise for fear of causing bank runs.
On other financial forums, where people have been analysing the stock trades of these banks, three are now identified as
BankUnited and a couple of smaller banks. In the next couple of days, I believe we will find out some other big players.
BankUnited is big in the SW, mainly Texas. They are teetering right now on FDIC receivership, and their stock has become a junk stock.
Anyone with more than $100K in any single institution needs to immediately spread the money around to other institutions, preferably good ones. That is the only way you are more likely to be covered if the institution fails. I myself went through a bank failure in 1989, but only had something like $300 in the bank, it was tied up for 90 days while the FDIC and the takeover bank got their act together.
