Sunday, January 10, 2010

This one slipped under the radar

Horizon Bank became the first bank of 2010 to hit the skids. I'm noticing that they are waiting for the very last minute on Friday to make these announcements. I didn't catch this until late Saturday as it wasn't listed on the FDIC website on Friday.
I wouldn't be terribly upset about this if it hadn't been reported that big bank executives are getting millions in bonuses and have not changed their ways. They're still doing those shitty derivatives that got us into the mess in the first place. Congress is set to change things but in the bill that's (crawling) making it's way through the process there's a big loophole that makes it easy for them to continue their little party. They're doing the same crap that was done in the 80s with leveraged buy outs only now they're buying at fire sale prices when they were expected to loan money to business to get the economy going.

That said and knowing that congress isn't going to fix the problem it's time for us to stand up and do something. We can actually change things. If they won't listen to us and they won't listen to congress then it's time to hit them where it hurts. In the wallet! A program called Move Your Money has been set up to do just that. Type in your zip code and it will give a list of your local home town banks that have a B rating or better. These are the banks that are actually making loans based of solid standards.
move your


BBC said...

You sure do come up with some good pussy pics.

I'm not going to worry about my bank, Wells Fargo, failing. I think that they are too good at stealing and cooking the books. :-)

I go in my branch once a week just so they get to know me well, I like the eye candy in there.

But they don't make any money off of me, if all their customers was like me they would go broke for sure, any bank would.

When I invest money it's in, um, other things that I have control of.

What I do save is, um, hidden under a rock, somewhere, away from wimmen and bankers.

The Blog Fodder said...

I spent most of my money on women and booze. The rest I spent foolishly.

Holte Ender said...

I know a couple who have had a bid accepted, at a fire-sale price, on a house, they both work, they have come up with 20% deposit, and the paper work has been with the bank since September 2009. It's as if the banks don't want to participate in regular banking anymore. They'll take your money, but when it comes to lending . . .

dana said...

I am on it! I can't wait to check out the banks back home. We had to go to Indiana a few weeks ago BECAUSE my bank failed. I had also lost $50,000 in stock, and that's just the tip of my iceberg in hell.

S.W. Anderson said...

That's an interesting iniative and I will look into it. I will also suggest there are credit unions out there that are trying to do business fairly and ethically. They deserve consideration also.

Beekeepers Apprentice said...

I'll admit, I haven't moved my little stash out of Bank of America yet, well, because I'm lazy.

Blog Fodder: Huzzah!

BBC said...

I think that monkeys that buy stocks deserve to lose the money. :-)