3 Banks, 2 LARGE Credit Unions

Banks no. 18, 19, 20, were seized by the FDIC today. Two large Credit Unions were also taken over by their regulatory agency.

I guess even the "minor Masters of The Universe" have feet of clay.

Incompetence seems to rule the world.

return to regulation. Let's go back to banks being banks, insurance companies being insurance companies, and investment banks being investment banks. I think it's the current system that brought about this "Masters of The Universe" crap -- along with the totally anti-capitalistic concept of "too big to fail".

It's very strange when actual countries can fail -- but an insurance company is "too big". That's just crap.