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  • Wall Street Breakfast: Must-Know News [View article]
    Yeah, it's a sad comment on how much the dollar has depreciated
    in a generation. Most kids laugh like I'm senile when I tell them you could buy a new vehicle for $7k in the '80s.


    On Jun 22 09:26 AM prudentinvestor wrote:

    > Almost a footnote at the end of the page: "Georgia-based Southern
    > Community Bank's closure will cost the FDIC $114M. North Carolina-based
    > Cooperative Bank's closure will cost the FDIC $217M. Kansas-based
    > First National Bank of Anthony's closure will cost the FDIC $32.2M."
    >
    >
    > These add up to roughly $365m, which is roughly the cost to the taxpayers
    > of the entire real estate crash of the late 1980's.
    >
    > In other words, the total cost to the taxpayers of the previous,
    > disastrous real estate crash of twenty years ago is now treated as
    > a minor footnote, repeated on a weekly basis, and almost unnoticed.
    > Last time, fraudulent bankers were led in chains by the FBI, and
    > this time they are getting bonuses. Is this the "change we can believe
    > in" ?
    Jun 22 09:32 am |Rating: +6 -1 |Link to Comment
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