News Item: Federal regulators close Mich. bank; 96th failure in '09
In case you haven't been following the news, Barack Hussein Obama has been president of the United States over the past nine months. That same time period corresponds with federal regulators shutting down 96 banks.
The Federal Deposit Insurance Corp. has coughed up billions of dollars in deposit insurance to cover the debts of failed banks in 2009.
By comparison, just 26 banks failed in all of 2008 when Republican George W. Bush was president. In 2007, also under Bush, just 3 U.S. banks failed. Ahh, the good old days.
Industry analysts predict that another 150 to 200 banks will fail. Keep that in mind next time the Obama media tells you the recession is over.
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