FDIC is ramping up and hiring 500+ new workers is seems like

[ColdSoul]

I just saw this while checking how the economy did today (I enjoy browsing the comments on the chump articles to get a feel for how the 'general public' feels about things.

Someone posted this link

http://jobsearch.usajobs.gov/jobsearch.asp?re=5&pg=21&jbf574=FD00&FedEmp=Y&sort=rv&vw=d&ss=0&brd=3876&FedPub=Y&caller=%2Fagency_search.asp

It shows the FDIC has 501 jobs listed on this site within the last month. It is really starting to get scary with how many more government jobs are starting to show up.

[J’raxis 270145]

Especially at the agency that insures deposits when banks collapse. What do they already know that we don't?

Bank Stocks Obliterated?

[ColdSoul]

Especially at the agency that insures deposits when banks collapse. What do they already know that we don't?

Bank Stocks Obliterated?

Yep, they keep saying "don't worry, we have hit the bottom" and then behind there back there getting ready for the "real collapse" or the economy that seems like it is going to happen due to the inept government. They seem like a chef throwing pasta at the wall to see if it sticks, but instead there throwing billions and trillions of dollars at the wall to see if it will "fix" the economy.

I think the predictions of 1000 banks collapsing by the end of the year just might be true.

One thing is I almost laughed when I went to cash a check at a local bank inside walmart here in NH and they asked if I wanted to open a account. Why would I put my money in a bank when it might collapse any day, or month and I won't be able to get it out. No thanks!

Plus the FDIC doesn't have NEAR enough funds to actually cover all these banks even though they cover only up to 125,000 to 250,000 of the person's money.

http://www.creditwritedowns.com/2008/07/does-fdic-have-enough-money.html

It seems the FDIC only has about 53 billion to cover bank failures, so a lot of people will get pennies on the dollar, OR the government will have to print out a bunch more money which will just make the inflation bubble bigger.

[John Edward Mercier]

If the FDIC should ever fail... the taxpayers are on the hook.

But you have to remember a bank can be taken over by the FDIC should its capitalization fall below 10% or remain near 10% for an extended period of time.

Since most of the job opennings came into being within the last 30 days, but more than two weeks ago... it most likely has something to do with the new adminstration... many of them are listed open to 'status candidates' (not quite sure what that means).