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Frank Fitton

Frank Fitton
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  • The FDIC Just Doesn't Get the Economic Situation [View article]
    Of course the banks are going to complain about this being demanded from them, but they have to like it more than just being assessed special assessment after special assessment. When you think about it on a smaller scale they do have the right to complain. After all, I’m sure none of us would like if the utility company all of a sudden asked us to prepay for 3 years worth of electricity. However, the FDIC faces a secured future. Banks and the FDIC need to work together to function properly and I really have no problem with this course of action. Faced with a difficult situation, its really the best course of action.


    Sep 30 02:32 PM | 1 Like Like |Link to Comment
  • FDIC Seeks Prepayment from Banks [View article]
    Of course the banks are going to complain about this being demanded from them, but they have to like it more than just being assessed special assessment after special assessment. When you think about it on a smaller scale they do have the right to complain. After all, I’m sure none of us would like if the utility company all of a sudden asked us to prepay for 3 years worth of electricity. However, the FDIC faces a secured future. Banks and the FDIC need to work together to function properly and I really have no problem with this course of action. Faced with a difficult situation, its really the best course of action.

    Check out my blog on the FDIC's current situation at.... www.thedebtgazette.com.../
    Sep 29 12:11 PM | Likes Like |Link to Comment
  • Banks' Overdraft Actions: Too Little, Too Late [View article]
    The legislation is coming, so basically the banks are seeing their cash cow about to be taken away so they’ve decided they might as well get some good PR out of the deal and announce that they are doing it themselves. They want to make it sound like their doing it out of some altruistic desire to help their customers, but as anyone who has dealt with the banks knows, that is never going to be the case. A quote from Wall Street comes to mind, as Gordon Gecko said “Greed is good”.

    The getting rid of fees for overdrafts is certainly a good thing, just don't fall for the banks PR spin that its out of a desire to help out people who are struggling. Go sell crazy someplace else, we're all stocked up here.

    Check out my blog on the easing of overdraft "policies" at.... www.thedebtgazette.com.../
    Sep 23 12:40 PM | Likes Like |Link to Comment
  • No Surprises: Unemployment Still Rising [View article]
    Our economy is so intertwined that its almost a catch 22 we find ourselves in. Consumer spending can't go up when people are still losing their jobs. While how are companies going to start hiring people if no one is spending any money, or has the money to spend. These stimulus packages are really just band-aids. We need to find a solution, and its going to have to be a slow one to work.

    Despite the gains in other areas of the economy, I don’t really think anything can get straightened out until we get employment back on track. It all starts there. I think the current administration is doing all it can do at this point, and a lot of the initiatives seem to be merely for show. They sound good, but have no lasting impact. There are no quick fixes to this thing, its just going to be a slow and gradual thing. It can’t go on forever, can it?

    Check out my blog on the unemployment situation at... www.thedebtgazette.com.../
    Sep 4 12:00 PM | 1 Like Like |Link to Comment
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