A headline from Sunday’s Nashville Tennessean, “2010 bank closures now total 81.” It wasn’t front page news, just an AP wire “filler” article from Washington. Click here for the article

In case you are having a problem with the math, that’s nearly 4 bank closures every week this year.  This time it was a 59 branch regional bank based in Lincoln, Nebraska and two small community banks: one in Minnesota, the other in Illinois.  It is interesting that these closings by the Feds always take place on a Friday so that the news either never makes it to the public or is buried in the expanded Sunday editions.

The article notes that the rate of bank failures in 2010 is double that of last year.  But we continue to hear the “Part line” from the Empire that “all is well,” “the recession is over.”  When companies and individuals cannot repay loans on such a massive scale that banks have to shut their doors, something is still drastically wrong with the economy.  The spokesmen for Empire are lying!

When the Feds have to work so hard to cover their backsides, you should know that their houses of cards (credit cards) are falling around them.

Give me an honest and Free Tennessee.

From Solitude,
David O Jones